I read a news clip last week where someone from Washington Mutual, which was taken over by the government, said that they weren’t given a fair shot and that “we deserved a chance”.
That just shows that they don’t get it. Because, here’s the plain and simple truth:
WaMu and every other bank had their chance! They had years and years, decade after decade, to build their bank the right way and do business in a way that wouldn’t lead to destruction. They had their chance to do that and they blew it.
Whether or not the government came in ‘too soon’ is something I don’t really even care about. If they hadn’t tried to stretch things too far, they never would have been in that predicament in the first place.
So, quit crying, poor little WaMu exec. You did get a chance. You just chose to blow it.