WaMu appears to be the front runner to the financial graveyard with their Jan '09 bonds yielding ~27%.
Quote from da-net:
just a few thoughts...recieved the attached pdf file from John Mauldin...it is definitely worth the time to read...to post it w/permission i had to attach the following...a very small price for worthwhile info
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You have permission to publish this article electronically or in print as long as the following is included:
John Mauldin, Best-Selling author and recognized financial expert, is also editor of the free Thoughts From the Frontline that goes to over 1 million readers each week. For more information on John or his FREE weekly economic letter go to: http://www.frontlinethoughts.com/learnmore
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the second thing is an article on MSNBC about the taleover of another bank
http://www.msnbc.msn.com/id/26354613
this article brings up questions like;
does the FDIC have a responsibility to warn depositors (bank creditors) of the impending collapse or insolvency?
how do those depositors (bank creditors) not covered by FDIC insurance get their money if ever?