Brilliant!! That’s the funniest joke I’ve seen in the user forums!
The real problem, as I see it, is the short sellers. WaMu would have done just fine if it hadn’t been for the pesky short sellers. If the SEC had just banned short selling on financial stocks, we wouldn’t be having this pleasant discussion. Or wait. The SEC did ban… Darn!!
I sure hope Congress approves this $700 billion bailout plan. It will pave the way for Congress to give these geniuses another $5 trillion in a few weeks when this bailout does as much to rein in the crisis as the SEC short sell ban did… and the AIG takeover did… and the Fannie and Freddie bailouts… and the lowering of interest rates and all the liquidity injections…
How, oh how, do these people have any credibility anymore?! Why aren’t they greated with boos and jeers when they testify before congress?
