Largest faliure in U.S. History

To be more specific the largest bank failure in U.S. History. WaMu (Washington Mutual) one of the largest U.S. savings and loans banks has failed. On Thursday, September 25 the stock price for WaMu dropped 95%. After being forced into bankruptcy J.P. Morgan bought WaMu for $1.9 billion WaMu was estimated to have $310 billion dollars worth of assets. The reason for there failure is due to housing crises. WaMu sudden crash was not unexpected, over the last few months stock prises have dropped, and they lost 6 billion dollars. Why did we do nothing about this when the housing crises started. The government is now coming up with temporary plans to help us out of this economic slump. Why are they just starting now the government has had months to come up with a permanent solution. I think that we have not been very fiscally responsible and were paying for it.