Message Font: Serif | Sans-Serif
No. of Recommendations: 0
The Treasury Secretary was right. However, since the situation was clearly misperceived (through several iterations) and other companies made the same "mistake" and shareholders were treated much better, WaMu shareholders deserve some relief.

Particularly, preferred shareholders need to be treated at least a little differently. It is playing out right now. Why buy common or preferred stock if they are both subject to wipeout? Buy the debt yielding 18% for 50 cents on the dollar. Even if there is BK, you will get something. (I did this with Calpine).

Once the fires are put out, hopefully the arson squad will be allowed to do a thorough job. That is, every bonus paid executives going back several years should be returned.

Both Obama and McCain were candidates selling change. The voters just need to hold the politicians accountable (for once).
Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.