The line of thinking that got us into this mess is that the government can act as a backstop for every financial failure.

You get a markup as long as everyone keeps playing, and the final buyer hopefully ends up able to convert the option and purchase.Of course, the more moving parts in the machine, the more points of failure.

I had a good month, though I view my last web venture as a failure.

well that's a bummer because the italian greyhound is only a year old and the Dalmatian is struggling with congestive heart failure.

Failure This Year Integrity Bank of Alpharetta, Georgia, was closed by U.S. regulators today, the 10th bank to collapse this year amid a surge in soured real-estate loans stemming from the worst housing slump since the Great Depression.Integrity Bank, with $1.1 billion in assets and $974 million in deposits, was shuttered by the Georgia Department of Banking and Finance and the Federal Deposit Insurance Corp.

Failure to do so will result in a loss of privileges.

No reason to bail them out for their failures.

I once heard someone say, capitalism without failure is like Christianity without hell.

The nation's largest previous banking failure was Continental Illinois National Bank & Trust, which had $40 billion of assets when it collapsed in 1984.

So, it would seem a short sale is lower impact.It will start hitting your credit sometime next month, once you're 30 days late on the note.You may get caught up in the WaMu failure.