09-16-2008, 01:00 PM
IndyMac was a deal cut to stop the avalanche. Didn't work.
WaMu is at least 10X the size of IndyMac, whole different story.
On to the question. WaMU has a fiduciary responsibility for funds held in trust for tax and other purposes. Misapplying those funds is a criminal act and someone goes to jail. WaMu is shaky but not for anything criminal in fact an argument could be made they are a victim as well.
I won't be he one to make that argument, I'll leave it to someone who cares about WaMu.
http://www.charlierose.com/shows/2008/9/...reddie-mac
WaMu is at least 10X the size of IndyMac, whole different story.
On to the question. WaMU has a fiduciary responsibility for funds held in trust for tax and other purposes. Misapplying those funds is a criminal act and someone goes to jail. WaMu is shaky but not for anything criminal in fact an argument could be made they are a victim as well.
I won't be he one to make that argument, I'll leave it to someone who cares about WaMu.
http://www.charlierose.com/shows/2008/9/...reddie-mac