WaMu Failure: What it Means for Seattle (Seattle Bubble)
Not surprisingly, I’ve got a few friends that work at WaMu corporate downtown. I really feel pity for them. The fact that WaMu put itself into such a dangerous position was not the fault of the rank-and-file corporate employees, but they’ll be the ones to feel the brunt of this failure.
I’d like to be clear that I do not take any pleasure in knowing that 4,300 people in Seattle are likely to lose their jobs, or the effect that will have on Seattle’s economy.
I like Seattle Bubble because it puts real estate in the perspective of real things—local economics, numbers and financial strategy. Not the quaint ritual and market gamesmanship peddled by real estate agents, mine included.
