Everyone is very aware of all the talks of bailout for huge corporations in the mortgage and insurance world, but what many consumers don’t understand is how are the benefited? Well if you had stocks in WAMU you were not protected at all. The government has given those corporations a bailout, and have left the consumers with useless WAMU stocks since JP Morgan did not transfer the stocks over. Fine, want to help out the big guys whose CEO’s fell into financial despair from their greediness to fund anyone regardless to how risky they were to begin with, then us consumers, the “little” ones want to know what kind of bail-out’s you going to be doing for us? I don;t see any bail-out on the thousands of dollars of debt consumers, both reckless and ones who suffered unfortunate circumstances, being bailed out from the debt that is killing our credit scores.
There needs to be check and balances. The Government can’t always come running to the side of corporations who drove their companies to over-whelming debt. Look at Bank of America, they didn’t open risky loans, and they are still standing. Great WAMU was “saved”, but for those of you who trusted your bank and put stock into it, tough for you, the government could care less if you lost $10,000. You arent protected, but don;t worry you checking and savings are.