Peter Schiff (Ron Paul financial advisor) points out that the government of the U.S. economy is devastated. Let the free market to clean the markets. The dollar will go into free fall. Washington Mutual Inc was closed by the U.S. government is by far the largest failure of U.S. Bank and its banking assets were JPMorgan Chase & Co. for 0900000000 € sold. AD seized Thursday and sale is the latest step in the historic U.S. government tries to a clean banking industry with toxic mortgage debt covered. Negotiations on a rescue package 0000000000 of the entire financial system in Washington on Thursday. Washington Mutual, which stalled the largest U.S. savings and loan institutions, is one of the lenders hardest hit by the housing of the nation’s bust and credit crisis hit, and had suffered from rising mortgage losses. Washington Mutual was named by the Federal Office of Thrift Supervision and the Federal Deposit Insurance Corp. closed receiver. preceded 0700000000 € deposit outflows at the Seattle-based thrift since the 15th are September, the OTS said. “With insufficient liquidity to meet its obligations, WaMu was conducted in an unsafe and unsound condition,” said the OTS. Customers expect business as usual “protected on Friday, and all depositors fully, said the FDIC. FDIC Chairman Sheila Bair said the bailout on Thursday night because of media leaks, and happened to reassure customers. As a rule the control of the FDIC on Friday institutions b
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