Should corrupt toxic lender Washington Mutual be allowed to fail?

Yes or no? Will Bennie and the inkjets bail out one of the slimiest lenders in the world? Or is that honor reserved just for Hank Paulson's investment banker buddies?

Bonus question - will their executives go to jail?

And again, for anyone stupid enough to have an account still at Washington Mutual - GET YOUR MONEY OUT OF THAT BANK AND GET IT OUT NOW. How much warning do you need?

Note I have no position in or account with Wash Mut. Just got my popcorn. Extra butter.

Appraisers say WaMu cut corners to increase its mortgage business

Groups Press for WaMu Board Ouster

WaMu cites housing woes for $1.1B loss

Where WaMu went wrong

Washington Mutual to close home-loan offices

FLASH: Toxic lender Washington Mutual sees "perfect storm" in housing, expects home prices to keep falling in most markets, billions in WM losses

The perfect storm. Surprising for bank CEOs and sheeple. Fully expected and predicted by HP'ers. Note - I'm short WM... They did call them "liar's loans" for a reason ya know...

NEW YORK, Sept 10 (Reuters) - Washington Mutual Inc., the largest U.S. savings and loan, may set aside $500 million more than it had previously forecast for loan losses in 2007, amid what Chief Executive Kerry Killinger called a "near perfect storm" in U.S. housing.

The Seattle-based thrift had in July projected setting aside $1.5 billion to $1.7 billion for loan losses.

Speaking at a Lehman Brothers Inc. financial services conference, Killinger said the housing market is struggling with stagnant home prices, rising borrowing costs, tighter underwriting standards, and tough capital markets conditions.

"Most housing markets appear to be weakening, to us," he said. "We would not be surprised to see declines in housing prices in many regions of the country ... for the next few quarters."

Want to see which banks of mortgage lenders may fail first? Well, here you go..

When you don't adequately set aside loan-loss reserves (helloooo - is anyone auditing these companies?) you get into a heap of trouble right quick.

WaMu - you're next...