The banking assets are going to be sold to JPM. JPM is once again in the catbird's seat. They got Bear Stearn's prime brokerage business and now they'll get WaMu's deposits which will give them a solid footprint in the western United States. I'm adding JPM to my watchlist. I may not buy it for a year, but I'm confident that Jamie Dimon can figure out a way to integrate all these parts.
i think WM has been insulted enough for there mismanaging many things in their company, but to be honest im new to all of this, heard of the news and it seems like it would be the DAY AFTER TOMORROW for the economy, i know media always make big thing of nothing. i was able to by some of WM for 1.70 wednesday and since then heard people talking from both sides of the oceans about how will WM bounce back
let the credit be to them, myself is not soo much of experience
The financial sector and overall stock market reversed course in late-day trading today as word spread that U.S. Treasury Secretary Hank Paulson plans to propose a government vehicle to Congress this evening which would take bad mortgage debts off the books of banks in a similar fashion to the Resolution Trust [RTC] during the savings and loan crisis nearly two decades ago. Major market indexes in the U.S. ended the day in the green by about 4 – 5% on average and followed a gap up at the open on pre-market news of a coor
In response to today's ratings action by Moody's Investor Service, co issues the following statement: "We believe that Moody's decision to reduce the ratings of Washington Mutual to below investment grade is inconsistent with the co's current financial condition, as outlined in the press release we issued earlier this afternoon. The action by Moody's appears to reflect the current uncertainty in the markets, rather than a thorough evaluation of Washington Mutual's business, the strength of its national franchise and the steps it is taking to return to profitability. Moody's rating for Wa...
Top 5 Companies by Largest 1-Year Stock Price Decline
After a brief, one-day rally in the financial sector following the Fannie Mae (FNM) and Freddie Mac (FRE) bailout on Sunday, companies such as Lehman Brothers (LEH) and Washington Mutual (WM) have lost over 47% and 57% of their market value, respectively, compared to a 5% loss in the Financial Sector SPDR (XLF) over the last five trading days. In contrast, the UltraShort Financials ProShares ETF (SKF) is up 6% in this ti
I owned this in real life and never know what the day is going to bring. I keep averaging down on it, but it wants to find a lower point to go. It seems this stock is bottomless, I feel one of these weekends soon we are going to be hearing the news......... I sold my shares yesterday, taking the loss. Time will tell if I was a sucker or not.
I think Washington Mutual will likely be the next to fail. I hate recommending stocks on or near their lows but I am afraid the bounce I was hoping for will never materialize. Although the seizure of FRE and FNM is going to help the mortgage market it won't be enough in my opinion. Standard and Poors recent downgrade just points out how dire things really are. It will be very difficult for them to raise more capital in this environment and there is no way for them operationally to dig their way out of the hole they are in. I expect you will see them seized near term by the FDIC. If the...
At Friday's closing price of 4.05, Washington Mutual (WM) is attractive as a speculative value play, based on a price to tangible book ratio of .32 and a Price to Normalized Earnings of 1.8. For many years WaMu was popular with institutional investors and traded in a range of 35-45 per share before plunging to under 4 this year. The signs of trouble were there – the mortgage operation experienced difficulties starting in 2004, when the housing bubble was in full bloom, and promised corrective actions never resulted in expense reductions or meaningful improvements in the troubled segment.
I'll let the picture do the talking here. Taken from Calculated Risk, we see continued rising delinquencies across the board in Residential Real Estate, Commercial Real Estate, and Consumer Credit cards.
For several years I held Washington Mutual (NYSE: WM) stock, happy with some slow growth and a very sizable dividend yield. It was so stable for so long that I and others included it in our 'safe havens' selections. This eventually turned into a disaster with the collapse of the financial sector and WaMu along with it.
There is quite a lot of debate as to whether it is time to get back into financial stocks or if we are in for years of more torment in the sector. The bad news and write-downs certainly have not a
The stock market was down yesterday and it is down again today. Bearish sentiment is roaming through Wall Street right now, so I thought I would look back on another occasion when the market was going through similar turmoil and I wrote about the following eight stocks, which I though
TheStreet.com's Jim Cramer says lower gas prices mean the numbers are too low.
People are missing this retail move. They are missing it because the market is deciding right now that the guidance companies are giving is just plain wrong given the $3.50 at the pump (although premium's a lot more expensive). They are also recognizing that the strong are surviving and thriving and taking share in a radica...
Wall Street's top ranked bank analyst, Tom Brown, says, "bank stocks have bottomed." "If you wait for the good news, you'll wait too long," says Brown of Bankstocks.com.
Brown believes many bank stocks are selling at rock bottom prices, calling them "extraordinarily undervalued." Brown thinks we are at the beginning of "the greatest financial stock bull market in our lifetime." He writes, "the bears have things all backwards. By the time their wish list happens, the stocks will be zooming"
The above table presents the 25 lowest-rated stocks in my US-based Regional Banking BEARISHares Index. The index contains a total of 99 companies with market caps between $500 million to $20 billion which are classified as either regional banks or savings and loan companies. The ratings for each company are calculated quarterly based on a formula which considers the price-to-book ratio, the trailing 52-week stock price performance, and the percentage of total market caps represented by each company.
The 25 lowest-rated stocks in the Regional Banking BEARISHares experien
You don't want to bottom fish here
- This is no bottom. This is only the beginning of the correction. The CDS unwind is going to have a major impact and where the damage stops is impossi...
And so it begins- CDS chickens come home to Roost
- As Jim Cramer would say Booya....or is it Boohoo? Really Jimbob, that was one of the worst calls of all time. Things aren't as bad as the seem they a...
WM - should be going under shortly.
- Unfortunately these banks are FINISHED for all intents and purposes. My suggestion? Either short this sector on any bounces, or just stay way way awa...
C
For several years I held 
The stock market was down yesterday and it is down again today. Bearish sentiment is roaming through Wall Street right now, so I thought I would look back on another occasion when the market was going through similar turmoil and I wrote about the following eight stocks, which I though
