Washington Mutual going under:

What does a chart have to do with whether a company is going to go bankrupt?
maybe you should link to the balance Sheet,
Ever heard of a balance sheet?, Income Statement, Annual report, 10-K, 10-Q?????

 

WM has to be the worst bank on earth. I certainly hope they are torn to shreds. I used to have an account with them and they are just very very stupid. nickel and dimers. retards that never communicate with eachother. I knew once they changed their name to wamu it was all over. I knew that should have been my q to short that turd. I wouldnt even pay 50 cents for a share of that company. I would take cfc before I take wm. but they are both peices of crap.

 

Wow, I actually shorted this POS 5 minutes before the close yesterday and was going to hold it overnight, but changed my mind with 30 seconds left in trading. Now we hear that WM and JPM are in talks. Stock is over $15 now in premarket.

 

So does anyone have any predictions about how WM earnings will be tonight?

 

WM fires CEO. JPM might buy them. Its too risky to short, then again, it is too risky to buy.

 

any chance this co going under?

 

10:08 WM Washington Mutual: Follow up on WM S&P rating downgrade (11.81 -0.99) -Update-

Standard & Poor's Ratings Services said that it lowered its long-term counterparty credit rating on Washington Mutual Inc. to 'BBB' from 'BBB+' and its long-term counterparty credit rating on Washington Mutual Bank to 'BBB+' from 'A-'. Standard & Poor's also said that it placed all of its WAMU ratings on CreditWatch with negative implications. "These rating actions reflect our expectations for a more severe residential mortgage credit cycle than we had anticipated at the start of 2008," said Standard & Poor's credit analyst Victoria Wagner. "We now believe that the severity of losses on all residential mortgages will be higher that we had thought and that the weak housing market will now be a longer cycle. This adds to the time frame to resolve foreclosed properties and the cost to carry these nonperforming assets." As the first quarter of 2008 closes, the weakening in home prices in some of WAMU's key markets--California and Florida, for example--is accelerating more quickly than previously anticipated.

 

An interesting update regarding WM's executive bonus plans:
http://seattletimes.nwsource.com/html/businesstechnology/2004263699_wamu06.html

 

My advice to anyone is to avoid this stock long....consider shorting.

Short 1000@39 and change.

TMA finally crumbled. CFC crumbled. ETFC crumbled. WM will crumble.