WaMu’s Main Regulator Failed to Spot Thrift’s Fraud (Update1) - Bloomberg.com

In this new era of new call for government oversight, everyone must be concerned that they will not be effective at the job. Government intervention in a purely market driven business is false security. As the collapse of WAMU points out, regulators were ineffective at controlling troublesome lending practices in the largest bank failure in American history. So what is the government going to do? Get better at what they have been doing for 75 years? It is truly the blind leading the blind.

WaMu’s Main Regulator Failed to Spot Thrift’s Fraud (Update1) - Bloomberg.com