Is Washington Mutual the next casualty in the sub prime mortgage fiasco? It sure looks like it is if you take a look that the latest news articles. Billions of dollars in losses and more than 3000 people are losing their jobs. Where is this going? Is there going to be even more fall out? There is even talk that WaMu will need to be taken over. Scary stuff indeed.
“The company is probably now a candidate for takeover, but the number of potential buyers is very limited,” Bove at Punk Ziegel said in a research note today. JPMorgan Chase & Co., the third-largest U.S. bank, is probably “the only realistic” company that could purchase Washington Mutual, he said.
