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

Let’s Stop Promoting Washington Mutual

Washington Mutual (a/k/a WaMu) is actively promoting its CD and deposit account products, including through some of my fellow personal finance bloggers.  I think this needs to stop. Read more