In article <48e0053d$0$9653$c3e8da3@news.astraweb.com>, JF Mezei writes:
> And had the FDIC waited an extra weekend before acting, WaMu would have
> been able to draw on some of the 700 billion gift to banks and its stock
> would have gone way back up.


Once the bank run was well underway, WaMu was dead meat. It may have
been possible to lock WaMu's doors (including stopping all its Fed
and interbank transfers), but I suspect that would have sent massive
shock waves thru the house of cards not to mention that WaMu's
depositors would have no access to their deposits for the duration
(possibly causing a financial panic in the population).

No, you kill a badly wounded animal as soon as possible before the
commotion panics the herd.


George Cook