Is it true that Washington Mutual and Wachovia are going under?

Question

Someone at my job told me....but I dont have any reliable sources

Answer 1

They are both having tremendous problems and its certainly possible (and they are not the only ones either).  They both kinda sorta claim they are doing fine, but what would you expect them to say.  I personally don't think they would survive in a perfectly competitive market with no gov't intervention, but since this isn't that type of market and we are getting lots of gov't intervention these days I think they will both survive by being lent enough money (care of the fed) to stay solvent until they work their problems out - though this will take years.  Anyhow, after the extreme measures the fed took to make sure Bear Sterns did not implode I suspect the fed will make sure these giants don't crash either - maybe they'll get taken over, but not go bankrupt.

Answer 2

Can you give some sources?  I haven't heard anything about this.

Answer 3

i don't knwo about going under but i've read and heard wamu has had much better days.  notice the less commercials?  and have you seen their stock price?  

haven't heard anything about wachovia, but just like most other banks i'm sure there's plenty of room for improvement.