Washington Mutual on the Brink?

Question

Is it reasonable to belive that Washington Mutual is on the FDIC's Quarterly list of banks that are not doing well?

Answer 1

I think they are on the decline.

Answer 2

Yes, they just lost something like 8 billion dollars last quarter.  There are rumors pretty much every Friday that the FDIC is going to swoop in and take them over (takeovers happen Friday nights most times).  Unless you have over $100,000 in an account there, this shouldnt be a big worry to you, the money is insured by the FDIC.  But you might want to consider selling any stock you might own, unless you are a gambler.

Answer 3

Yes, they have a lot of money in sub prime mortgages and could possible fail...although they say they have enough cash to keep going for a long time.