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Thursday, April 15, 2010

Be thankful if you’re not my Facebook friend
If you're a Facebook friend, you'd be getting blow-by-blow commentary from yours truly about the United States Senate hearing, "Wall Street and the Financial Crisis: The Role of High Risk Home Loans". I've been breaking it into chunks in the evenings because there's no way I'd be able to focus on my projects and the hearings at the same time. If you clicked the link, you'd see that the video is 437 minutes. That's a lot of yacking.

Parts of the hearings made me really angry, but the things that made me angry have nothing to do with why WaMu was seized. I was angered at the fraud, finger pointing and greed. I thought I'd be upset with a particular executive, but I wasn't. In fact, I learned a few things that I didn't know and my opinion of him is different now. My friends know who I'm talking about. I've been carrying a big "he's an idiot" flag around for a couple of years now about the guy. I still think he made some dumb decisions- my fellow trainers will know what I'm talking about. I now think he has more integrity than I'd originally thought. Don't burst my bubble about it this week, OK? Let me live in this nice little fluffy cloud for a while.

Those that aren't in the know- I'm not talking about Killinger. I think I'll always have a soft spot in my heart for the guy. I remember being in kind of a fog after we were seized, and the thing that really hit me hard was seeing Killinger's pictures removed from the walls. That was the first time I cried about the whole thing.

Tomorrow the regulators are under fire. It's clear to many that the regulators unfairly pulled the trigger on WaMu. Because of this decision, many of my friends are STILL out of a job, and countless numbers of people lost a lot of money because they owned WaMu stock. I'm one of those people because I believed in and was loyal to my company. I was part of this company when it was so small that I probably trained every employee on the front line personally when I was a classroom trainer. I *loved* my company because I knew what wonderful people WaMu employed.

I trusted that purchasing stocks in this company was a win because there were so many other employees like me that did what we could to make WaMu successful. This cost me just over $100,000.00.

I know for a fact that many of my friends lost even more.

Are we destitute because of this loss? I'm thankful that I can say that we're not. I've read many stories of people counting on this money for their children's education or their retirement. I'm thankful that I'm not one of those people, but I do hurt for them.

So, here's a warning to my Facebook friends. You'll be getting more play-by-plays over the weekend as I digest the next round. I hope you don't mind a little cussing. red face

RisibleGirl was blabbing on about her adventures again on 04/15 at 08:37 PM

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