billspaced

How Does the WaMu Failure Compare?

Can just ANYBODY write articles here? The author seems surprised about Killinger's statements earlier in the year, and he's downright got the bank-run idea wrong:

You get your money out of a bank before you think it won't be accessible. WM was purchased by JPM; nothing will change but the signs on the banks, months from now.

This author is pretty reckless, not to mention stupid. Learn some history about banking.

“A Whiff of Panic...”

Where does the author get his "facts?" Point #3, about the Fed charter. Where the heck does it say that they have those missions (price stability and employment maximization)?

I think the author needs to do some research before he publishes.

I mean, the Fed may state that it has those two purposes, but its mission was spelled out in its charter. Price stability and employment had nothing to do with it.