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THOUGHT FOR THE DAY!

"I am strongly in favor of using poisoned gas against uncivilized tribes. The moral effect should be good...and it would spread a lively terror.... "-- Winston Churchill commenting on the British use of poison gas against the Iraqis after World War I

 

WAMU: NO WAMPUM

US taxpayers could be on the hook for as much as $24 billion to rescue embattled Washington Mutual, the country's No. 1 savings and loan, a top banking analyst is warning.

The jaw-dropping tab would come in the form of federal mortgage loss guarantees needed to coax a buyer into purchasing WaMu, according to Landeburg Thalmann's Dick Bove, whose view on the need for a federal backstop is shared by an official with the Office of Thrift Supervision, WaMu's regulator.

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Posted on Sep 14, 2008 at 14:15
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