So WaMu went, but it went early.

[tmosley]

So why do you think the FDIC seized WaMu on Thursday instead of Friday? It seems fairly obvious that it was an engineered takeover that they undertook merely to attempt to FORCE congress to agree to their monstrous bailout deal, rather than the apparently more sensible Republican alternative.

This all stinks. It's nothing more than brutal intimidation. I wonder if anyone in Congress sees what is REALLY going on here?

[TheEvilDetector]

So why do you think the FDIC seized WaMu on Thursday instead of Friday? It seems fairly obvious that it was an engineered takeover that they undertook merely to attempt to FORCE congress to agree to their monstrous bailout deal, rather than the apparently more sensible Republican alternative.

This all stinks. It's nothing more than brutal intimidation. I wonder if anyone in Congress sees what is REALLY going on here?

They do not care (few exceptions exist).

[Mister Grieves]

I believe I heard on the news this morning that it was because they were afraid there was going to be a bank run today due to leaked news about WaMu's imminent demise.

[noxagol]

There goes the FDIC!

[gaazn]

They took out Lehman and WaMu to create this "crisis." Niether was in immediate danger of failing until the government tried to broker deals for the companies to merge. Many in Congress doesn't see what's going on. They will push this thing through blindly like they did the Patriot Act. They think patriots are people who stand by the government and military at all times. Any one else is an insurgent, terrorist, or traitor. Meanwhile the people on the street think what we are seeing is socialism. But in reality it is fascism. It is a scary reminder of how Germany was so afraid of communism that they opened their arms to fascism.

[123tim]

There goes the FDIC!

Yes. Could you expand on this? From the little I understand it sounds like the FDIC won't have anything left if anything else collapses. Is this true? What would this mean if more banks fail?

Thanks.

[Bruno]

I believe I heard on the news this morning that it was because they were afraid there was going to be a bank run today due to leaked news about WaMu's imminent demise.

There already had been bank runs at WaMu, but they called it a bank "walk" on TV. They had taken out $16 Billion in recent weeks.

[voytechs]

I think it may have held out longer than it should have. I'm pretty sure WaMu was gonna go under last friday, but because of the bailout they held out longer just in case it all goes through and their stock rises along with the flow. But the thursday timing is probably intimidation as you so keenly observed.

[Thrashertm]

So why do you think the FDIC seized WaMu on Thursday instead of Friday? It seems fairly obvious that it was an engineered takeover that they undertook merely to attempt to FORCE congress to agree to their monstrous bailout deal, rather than the apparently more sensible Republican alternative.

This all stinks. It's nothing more than brutal intimidation. I wonder if anyone in Congress sees what is REALLY going on here?

agreed.

[noxagol]

Yes. Could you expand on this? From the little I understand it sounds like the FDIC won't have anything left if anything else collapses. Is this true? What would this mean if more banks fail?

Thanks.

Correct. The FDIC has exhausted its fund, any further payouts from the FDIC is pure inflation.

[ShowMeLiberty]

So why do you think the FDIC seized WaMu on Thursday instead of Friday? It seems fairly obvious that it was an engineered takeover that they undertook merely to attempt to FORCE congress to agree to their monstrous bailout deal, rather than the apparently more sensible Republican alternative.

This all stinks. It's nothing more than brutal intimidation. I wonder if anyone in Congress sees what is REALLY going on here?

100% agree. It's the first thing I thought when I realized that "FDIC Friday" had arrived early.

[xd9fan]

cant help but think the founders would have started a armed revolution over this and......here we sit taking it

[freelance]

Y'all are wrong about FDIC kicking in. The bank was absorbed, so FDIC doesn't kick in on this one.

http://online.wsj.com/article/SB122238415586576687.html