" WaMu’s demise was in some ways as damaging to confidence as the Lehman debacle, because WaMu’s haircuts were totally avoidable. They sent a message to the world that the U.S. government was not seriously committed to defusing the financial crisis and containing the economic damage, even when it had the capacity to do so, even after the nightmare of Lehman. Perhaps "

― , Stress Test: Reflections on Financial Crises