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Background on the JPM/FDIC/WaMu fiasco.

Posted 11-25-2009 at 11:48 AM by DigitalDave

In the middle of last year, I started following Washington Mutuals Stock. I felt that it was a strong company that could hold its own in a serious downturn with the economy. They had great customer service and found ways to get people to save with them to put more funds in the bank. I thought the stock price was a steal but I knew there was some risk since the ARM loan portfolio was risky, and there was potential for Credit Card defaults to create a problem. Nevertheless, they had enough capital...
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