It was announced Thursday evening that Washington Mutual was closed by the U.S government in what is the largest U.S. bank failure in history. The Federal Deposit Insurance Corp was named receiver and stated that "customers should expect business as usual on Friday, and all depositors are fully protected." I am not writing this post to discuss the details of the post-failure workings (please read this Yahoo News article), and I do understand that WaMu's failure is complicated.  I just...continue reading...

One of the most important functions of our Government is to help individuals and corporations when they are in trouble.  Last Sunday, our Government made a strategic decision to officially bail out Fannie Mae and Freddie Mac.  The decision is obviously great news for the two mortgage giants, and homebuyer-hopefuls should be just as excited - you're going to benefit, too!  Although the bailout is a complicated issue, it is better than the alternative - the failure of two companies that...continue reading...