No No No... You have it all wrong. The way this country is set up is to rob from the middle class (WAMUQ holders), give to the rich (WMI Bondholders, JPM Stockholders) and the middle class is allowed to give the rest of their worked for money to the poor in the way of increased taxation....
I just read an article where they were talking about high-end stores sales up 30-60% where-as stores where the middle class could purchase were either down or even. This article was talking about the outlook of the current economic condition.
I must make this statement known... I feel I am middle class as I work 2 jobs, but at the same time working both those jobs (1 full time System Administrator, 1 part time System Administrator position) I am barely able to afford anything "extra" and if not for my second job I wouldn't be able to afford to even make it to work and pay my bills).
I was a pre-siezure shareholder here with most of my trading account invested in WAMU at the time of siezure thinking the shorts would have to cover and I'd be able to make a profit on my money. At the time there was a statement that all financial institutions were not to be shorted. Why were there 50 million shorts allowed to not cover in WAMU? Can you beat the GOVT? Who can?
All I can say is I had 90% of my money in WAMU and lost 99% of that. I sold 1/3 of what I had during the recent run-up at .695 (at a loss of about $3/share) and most of the rest at .18 recently. I do not think you can compete with the govt. All there is too it, without enough people behind it you sink! 99.9995% of the people in America think WAMU failed, I also have my doubts considering what the attorneys are willing to accept!
Point is, unless I come up with some wild ass gadget to be able to sell to 23 million people I will always be middle class. I will never be one of those guys like the KMart bondholders that were given a 600% return while shareholders were cancelled!
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