[SteveR]

I just read that if JP Morgan Chase didn't buy WaMu's personal banking assets, the entire FDIC Insurance Fund would have gone bankrupt, and it would have been first come first serve for trying to get your money and everyone else would have been screwed. Not to mention that if that happened, there would be no more FDIC fund and if another bank went under, everybody would lose everything.

On a side note, I'm watching Wachovia closely as they reported over 12 billion in loses last quarter alone.