Washington Mutual Begins Auction to Sell Itself

[EV_Ares]

Washington Mutual, the struggling savings and loan, has put itself up for auction, people
briefed on the matter said Wednesday.

The unsurprising announcement comes as the bank, which has suffered badly from losses on mortgages it had made, continues to stumble. Shares in Washington Mutual fell nearly 10 percent on Wednesday to $2.09; they have plunged 94 percent over the last 12 months. This week alone, investors have been frightened by Standard & Poor’s cutting of the bank’s debt rating to junk.

rest of the article @ link: http://www.cnbc.com/id/26761181

[Duke Newcombe]

1. Wow. Great time for me to have opened a business account, eh?

Thanks, * and McWhatever. I'm not worried, seeing that the fundamentals of our economy are so strong... :sarcasm:

[Oregone]

2. See, big business wins again...

When I try and sell myself, I get arrested for being a male prostitute. But noooo, when WM gives it a try...

[cliffordu]

3. LOL. I have 34.90 in Wamu....Is it still safe????

:rofl: