Bye bye Washington Mutual

robbie380 · Sep 26, 2008

SamFisher said:

I wonder how many more banks will need to fail before the skeptics believe that this will cause banks to fail. Thus far we lost all five american investment banks, the world's largest insurer, the largest S&L and now Wachovia. We're running out of things to lose.
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who knows...i just need the initial pop in the preferred I bought the second I heard the news. hell a merger between these 2 crapsters would probably kill citi. wb only has 120b in pay option arms lol. to put in perspective it is more than twice what wm had.

Dream Sequence · Sep 26, 2008

F.D. Khan said:

The question is whats next and who will benefit from the bailout and the consolidation of the banking/investment banking industry?

The primary answer is those that have already substantially marked down assets like Citigroup, UBS, JPMorgan and Bank of America.

Who's in danger? Banks that had toxic portfolios yet had not as aggressively marked down their portfolio. Wachovia is actually one of those plus their exit from the wholesale mortgage business a few months back probably limited their ability to mix in good new mortgages with their crappy ones thereby skewing their quality.
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quit posting and get ready for hoooooooooooop

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Bye bye Washington Mutual

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Bye bye Washington Mutual

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