The more that time goes on and the dust settles, it is becomming so clear that the liquity of WAMU was more than sufficient to maintain operations last year, shucks the FEDS have gone into combat with the 10th Mountain Division using fake rubber bullets; Operation Restore Democracy, in 1994, why can't banks float for a 6 day period the same way? The only reason why Wamu was taken over was because forces within the current political party wanted to out the Bush administration, the only way they could do that would be to put the former bank CEO's on their side into political offices and then take down all the competitors banks. So what did we have, Bear Stearn, Wamu, and Lehman Brothers all taken out, while the governors of the New York and CHicago exchanges were taken out as well. With those five entities "taken out" and killed, with Spitzer, Blagowavich, Lehman Brothers, Bear Stearm and Wamu dead, John Corzine; Illinois Banker, US Marine, and former CEO of Goldman Sachs was in the "perfect place" to watch all of this "accidentally" unfold. Really, it's like the firefighter who shows up first on scene to every fire for months on end; usually their a glory hound setting the fires themselves. The motive was there, and with the New York Stock Exchance and Chicago Stock Exchanges Governor's ousted in scandals any other governor or president would have walked away with a smack on the wrist for, well, John Corzine stood to put the democrat party exactly where he wanted them. In charge of the existing banks, he owned or greatly influenced. Did he cross the line and use his inlfuence to break the law? Time will tell; but the truth is; all three of those giant banks, and both governors of the largest exchanges, and the Bush Administration were discredited, "policitally assinated" or "hostily taken over" in dramatic and scandalis ways. It's brilliant, John Corzine is a wizard, and Barrack Obama and Hillary Clinton are smart for having kept him in New Jersey instead of brining him to Washington. New Jersey is the "Valley of Armegeddon" for the next presidential race. It will be interesting to see if the court's decision in the Wamy case will now be different since a US Attorney Chris Christie with no ties to Wall Street or Illinois Banks is in the New Jersey office overlooking the Manhattan skyline whose workforce depends on New Jersey for most of it's bank end operations.
I think it's going to be just like "Miracle on 34th Street" and this Wamu case is going to be altered by the logic of a 5 year old little girl and her father. A father who will soon be in the New Jersey statehouse neighboring that New York Stock Exchange wondering how that skyline will look in 20 years when she is working there as a young attorney herself.
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