Quote:
Originally Posted by turbo6bar
Hey, Island, analyst at Lehman says WM primed for losses up to $26Billion. That's roughly 8 times current market capitalization, and nearly 50% of WM market cap before these 'scare' tactics hit the economy. 
I suppose you could argue WM is a responsible lender, but I'd say they simply got caught wearing no swimming trunks while the tide receded. Truth is probably in between. |
Thanks. FWIW Bloomberg had this to say:
Quote:
WAMU -after dropping the most since its initial public offering in 1983, said it is ``well capitalized'' with more than $40 billion in liquidity and $150 billion in retail deposits.
The company's tangible equity to tangible assets ratio is 7.8 percent as of June 30, Seattle-based Washington Mutual said in a Business Wire statement after the close of regular trading. Details will be provided on its July 22 earnings call, the company said.
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full read:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aSx0z01vzYQY&refer=worldwide
All I can argue is that WM
WAS a responsible lender. Randy P. pointed out the more recent irresponsible components.
Now I'm just interested in their chances of surviving.