Interesting article in todays (11/23/08) Seattle Times. The writer actually references NSS as a factor in WM's demise...

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Allegation: The government did not protect WaMu from naked short selling last summer.

Motive: To push the thrift toward failure (see above).

Evidence for: Short selling seriously damaged WaMu's stock. That contributed to rating agencies downgrading WaMu's debt, which in turn prompted some depositors to flee.

When WaMu CEO Kerry Killinger asked Treasury Secretary Henry Paulson to use his influence to put WaMu on a list of protected stocks in July, Paulson told him, "You should have sold to JPMorgan Chase in the spring, and you should do so now. Things could get a lot more difficult for you," according to one of several current and former high-ranking WaMu executives who confirmed details of the call.

http://seattletimes.nwsource.com/html/businesstechnology/200...