It Could Be A Name Brand: Washington Mutual
Washington Mutual Inc., the largest U.S. savings and loan, had lost 74% of its market value in the past 12 months.
Washington Mutual CEO Kerry Killinger told investors in January he expected a "dramatic" increase in loans that need to be modified to avert defaults.
WaMu has been one of our favorites in the dead pool and last month, Killinger and WaMu went panhandling for cash to stay afloat.
A group led by David Bonderman's TPG Inc. is considering a $5 billion purchase of preferred and common stock.
Richard Clayton, research director of CtW Investment Group, which advises unions holding about 4.5 million shares of WaMu:
The company must get an infusion "in order to stave off insolvency. This is indicative of our point that the company wasn't properly evaluating risk."
Hattip To Bloomberg
Washington Mutual CEO Kerry Killinger told investors in January he expected a "dramatic" increase in loans that need to be modified to avert defaults.
WaMu has been one of our favorites in the dead pool and last month, Killinger and WaMu went panhandling for cash to stay afloat.
A group led by David Bonderman's TPG Inc. is considering a $5 billion purchase of preferred and common stock.
Richard Clayton, research director of CtW Investment Group, which advises unions holding about 4.5 million shares of WaMu:
The company must get an infusion "in order to stave off insolvency. This is indicative of our point that the company wasn't properly evaluating risk."
Hattip To Bloomberg
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