Why Washington Mutual Deserved to Fail

Mr. ToughMoneyLove has been beating up on Washington Mutual both before and after its failure.  It wasn’t always this way.  In fact, in 2007 I owned stock in WaMu but I sold it late in the year when WaMu cut its dividend.  When a bank reduces its a dividend payment, it is a warning sign of the highest magnitude.  It also caused me to research WaMu’s lending practices. Read more

Personal Finance Week in Review – Waiting for More Hard Truth

Congress Wavers While WaMu Craters 

Mr. ToughMoneyLove has credit crisis fatigue.  Whether you call it a rescue or bailout, the future of the “plan” has been placed squarely in the lap of Congress.  I think the plan treats the symptoms not the cause but at this point, all we can do is wait for the hard truth to come.  Read more