I hate to say it, but I told you so about Washington Mutual

So the biggest bank failure in the history of our country occurred yesterday and quite frankly was somewhat of a non-event. The quick FDIC step-in and subsequent fire sale to JP Morgan kept bank failure on page two with the $700 billion federal bailout clearly the bigger headline. This is something that hopefully not too many people got burned by. The writing has been on the wall for months, and if you chose to gamble with your money above the FDIC limits then I have little sympathy for you. The WaMu failure was like a big spinning hurricane that took forever to land - if you didn't evacuate ahead of time shame on you. Not to gloat, but we called the WaMu failure a discreet possibility almost a year ago, simply by looking at option ARM profits and wimpy loan loss reserves. We also th