>>Not sure that counts. The FDIC approved the c takeover of wachovia and that failed. Who is calling the shots, hopefully not the FDIC.<<
They are making the rules up as they go. I lost big time on WM. All courtsy of the FDIC. Who the hell do those people think they are anyway? They called the C/Wachovia deal and then just backed away. Bullshet! Why didnt they do something besides let WM fail and cost us bagholders all our money!!
WaMu failed because of poor managment, not what the FDIC did. As a stockholder, you failed to make sure corporate was doing its job. It was leveraging itself to astronomic proportions on bad mortgage debt, and it paid the price. They weren't "too big to fail," and so were allowed to. That's the free market. Everything else going on is because these institutions were too big to fail. But the WaMus of the world get swallowed up by the big boys. Shareholders lost their bet. But it's not anyone's fault except the bank itself for being so idiotic with its investments.