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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: John Vosilla who wrote (24871)1/18/2005 3:06:05 PM
From: Elroy Jetson  Read Replies (1) of 110194
 
Washington Mutual is is a big OPM (Other People'e Money) institution.

But Marion and Herb Sandler, who founded World Savings(Golden West Financial, are neighbors and friends of my parents. They have never held fixed rate mortgages, their entire portfolio is variable rate. If any of those loans are of the no-down-payment type, they're insured. Washington Mutual may be a house of cards, but you'd go broke betting against the Sandlers.

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