Are the Feds that stupid to believe WAMU

[allspec33351]

http://news.yahoo.com/s/ap/20071221/ap_ ... tual_sec_2

CCD

[Les]

yes

[Brian G]

I seriously doubt if the Feds do believe WAMU, it's just a question of whether or not they really want to open that can of worms. I doubt it.

Brian G.

Ignore it; Maybe It'll Go Away [:-paperba

[kurt]

The typical gov't. response to this sort of debacle is to find the whipping boy. WaMu might be, along w/a few others. If the powers that be find WaMu to be an expedient choice, the hammer will come down. If they don't, it won't.

If not whipping boy, they might end up being used as the poster child.

Man, I'll tell you though, it was standard practice around here in the boom to go to WaMu. Everyone knew that's where you go to get your buyer "qualified". It was a puppy mill.

[Jim Katen]

The Feds aren't stupid, they just don't want to risk the Wamu reverse mortgage that they've taken out on the White House.

- Jim Katen, Oregon