Trouble ahead, bank on it

The fall of the largest US savings and loan, Washington Mutual sent shivers up the spine of many a trader. The stock is almost worthless. Many people are wiped out when federal regulators seized wamu and it was later sold for $1.9 billion to JP Morgan Chase the second largest bank in the US.


To put this in perspective, you have a perfect storm with economic collapse hitting right before an election. Things can and will get scary if we do nothing.