01 December 2008

Quote for the Day

Quote for the day, December 1, 2008:

"These mortgages have been considered more safe and sound for portfolio lenders than many fixed rate mortgages," David Schneider, home loan president of Washington Mutual, told federal regulators in early 2006. Two years later, WaMu became the largest bank failure in U.S. history.


p.s. For the best in world news, business news, US news, etc., be sure to see our new blog:

http://a1anews.blogspot.com/

Rock Trueblood's commentary will return to this blog, the Watchworld, later this week

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