Is Wamu going brankrup? i heard lot of people cashing out yesterday(7/15/08).?

Question

Is Wamu going brankrup? i heard lot of people cashing out yesterday(7/15/08).?

Answer 1

Who really knows... but you have to realize WaMu is a massive retail (deposit) force... and Insurance divisions as well.  they have stopped the mortgage side of things for now... yes they have to deal with the defaults but WaMu is a major player... If the government lets them go down.... we need to get a one way ticket to Australia...  

I looked at their stock price yesterday and thought it was a great price.  52 week spread is crazy.   Am I spending every dollar i have on the stock.   No.. but at 3 bucks from 44... Once we settle down with all of this sky is falling and the world is going to end propaganda the stock will climb... and that is when the rich get richer (buy at 3 bucks) and the poor get poorer (buying at 40)(selling at 3)

I used to work for them... I walked away... but I still think the company has something to offer...

Answer 2

not i don't think so

Answer 3

They aren't exactly in stellar financial shape.  Loan charge offs have risen by a factor of 7 and this is just the beginning.

Answer 4

No, but they had a plummet in stock prices.  They were up, though, yesterday by 12%.

http://www.bloomberg.com/apps/news?pid=2...