Wamu next? S&P downgrades WaMu ratings on financial turmoil

[girl gone mad]

SAN FRANCISCO (MarketWatch) -- Standard & Poor's said late Monday it downgraded the ratings of Washington Mutual Inc. and Washington Mutual Bank because of increased market turmoil. S&P cut the counterparty credit rating on Washington Mutual Inc. to BB-/B from BBB-/A-3, and the rating on Washington Mutual Bank to BBB-/A-3 from BBB/A-2. The outlook is negative. "Increasing market turmoil and the related impact from managing its concentrated mortgage franchise in this troubled housing and credit cycle led to the downgrade of WAMU," said Victoria Wagner, an S&P credit analyst, in a statement. "The company's weak equity pricing in the markets is also a concern, and it increasingly appears that market conditions could overtake credit fundamentals and leave the company with greatly diminished financial flexibility." End of Story

http://www.marketwatch.com/News/Story/Story.aspx?guid={14F79B1B-BFCA-4BE0-8353-A6106941E7E9}&siteid=yhoof2

[girl gone mad]

1. Hearing a rumor from an insider...

anyone else?

[Selatius]

2. When the stock markets open tomorrow, Washington Mutual's stock value will evaporate entirely.

WaMu is going to disappear, I fear.

[Ichingcarpenter]

3. Why is Gold and Oil failing right now?

I know that they a relation to each other but you would think gold would rise right now