WAMU fails...the largest bank failure in world history

[RedGoneWILD]

it just keeps getting worse & worse...

the economy is not doing fine

[TechMan]

There just all Money hungry, and their poor business choices is whats making them fail

[daniel3417]

As individuals, we should weather this storm, and possibly look to purchase stock in the banks that are prevailing in a bad financial time. If Goldman Sachs, Morgan Stanley, and, in particular, JP Morgan are getting by right now, imagine what would happen if we were in a bull market.

I'm not yet 20, and I believe I'll be buying some stock in JP Morgan as they now have bought out Bear Sterns and Washington Mutual.

[streicher187]

If we had a Free economy

The Airlines would all be out of business
Ford,GM, Chevy would all be out of business
The stock market would have crashed by now with all the banks going under and there would be a HUGE run on banks

The unemployment rate would be at about 40 percent right now. The only banks that are doing well are the ones who were actually regulated. To allow these to go under means you have to allow the major motor industries to go under which will cost thousands if not millions of jobs.. The idea of a free market would never work in the US because of the greed. Once the banks are fixed then Wall Street will move on to destroy something else (my guess is health care)..

[JeRmZ]

Once the banks are fixed then Wall Street will move on to destroy something else (my guess is health care)..

Which is already destroyed anyway!!

[daniel3417]

If we had a Free economy

The Airlines would all be out of business
Ford,GM, Chevy would all be out of business
The stock market would have crashed by now with all the banks going under and there would be a HUGE run on banks

The unemployment rate would be at about 40 percent right now. The only banks that are doing well are the ones who were actually regulated. To allow these to go under means you have to allow the major motor industries to go under which will cost thousands if not millions of jobs.. The idea of a free market would never work in the US because of the greed. Once the banks are fixed then Wall Street will move on to destroy something else (my guess is health care)..

Strong words. Nothing to back it up.

Why would Ford go bankrupt? That makes no sense. Their operations are almost completely independent of any bank. I'll send you their financial statements if you want.

Unemployment at 40%? What? Where are you getting that? I can't even debate with you because you are so wrong. I can only offer you the country of Hong Kong. Research it. They have the best free market in the world. As for your beloved governmental regulation, you can show me...the Soviet Union?

And as for greed being the reason a free market can't work, isn't what's going on right now EXACTLY why you are completely and utterly wrong? Banks who took too many risks for more money are going BANKRUPT! Yet the government, which you love so much and think should regulate everything, has decided to bail them out. Seems like your government is the one who rewards greed...

[RenegadeLonghorn]

Clearly not doing fine. Wachovia is next.