You can call them the "first major commercial bank to go", as if they're the ominous start of a trend --- and maybe they are, but weren't they also basically one of the ringleaders of the mortgage valuation debacle?
Notice also (if you're a tea-leaf reader) that the WSJ and NYT stories on WaMu didn't end with "raises new and troubling questions" about some other big financial; WaMu was a festering infected band-aid waiting to be ripped off our carcass, just like Lehman. Is there another big one? Wachovia is the next-most exposed company, aren't they? And they're considered pretty strong.
Notice also (if you're a tea-leaf reader) that the WSJ and NYT stories on WaMu didn't end with "raises new and troubling questions" about some other big financial; WaMu was a festering infected band-aid waiting to be ripped off our carcass, just like Lehman. Is there another big one? Wachovia is the next-most exposed company, aren't they? And they're considered pretty strong.