I have no problems with the FDIC/taxpayer taking care of the depositors at WAMU up to the guaranteed $100K. The banks pay FDIC for the insurance policies and if the government spents all the proceeds that's not the fault of the depositors.
I did take issue with the FDIC paying the IndyMac depositors 50-cents on the dollar of their deposits over the insured $100K limits What the hell was up with that??
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Because we can pay 50 cents on the dollar. ;-)