Washington Mutual's future

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billbaldi_IHB

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Just Curious I'm looking for an unbiased educated response from anybody.



What is the future for Washington Mutual.



1) Will they be bought out inthe near future by another bank?



2) Will they have huge writeoffs in the next 2 years and than return to profitability?



3) Will they go out of business?



4) Other?



Thanks
 
1. I read somewhere that Wells Fargo was interested in acquiring them.



2. Their liabilities will be too much to write-off.



3. Uncle Sam may not allow something this big to crumble.
 
My prediction is that they will be sliced up and taken out by some other bank for pennies on the dollar since to what my bank did with PFF Bank & Trust. There is value in their assets, especially the retail branches and not as much in the loans on the books, so someone will step in and pick them up at around $1/share.
 
[quote author="EvaLSeraphim" date=1214661344]About all I can tell you is that they will be one of the largest homeowners on the West Coast.</blockquote>


I thought BofA was going to have this honour.
 
<strong>Oh My Gosh!</strong> Ben Stein is recommending WaMu on one of the Saturday morning Fox news financial shows, If that isn't a flashing <strong>DANGER</strong> sign, I don't know what is.


Alexis Glick is hosting the show. I can not take my eyes off the screen.
 
They will be a large Homeowner on the East coast too.



We have our checking account there.



And how about Indymac? I thought I'd be reading about them being taken over this

weekend.
 
"About all I can tell you is that they will be one of the largest homeowners on the West Coast."



LOL! That is too funny!



Also Eval, I really like your avatar because it is me. Although I'm single, the conversation still goes on in my head!
 
WAMU seems to be in paranoid mode. We bought one of their REO's and looked at their mortgages, but they were ridiculous. Then a couple of months ago I get a letter from WAMU telling me that they're closing my credit card account. It seems that closing a 750 FICO customer's card is a sign that they are scared. I wasn't sure if they would fall into the too big to fail category.
 
[quote author="EvaLSeraphim" date=1214695428]Don't we refer to Ben Stein as a contrary indicator?</blockquote>


Enough with the Ben Steinery! It is time to buy puts on WAMU. Remember when he was recommending financials a couple months ago? Here is a chart of what you could have seen if you went against Ben Steinery...



<img src="http://www.marketwatch.com/charts/int-adv.chart?symb=SKF&sid=2598680&time=6&startdate;=&enddate;=&freq=1&comp;=&compidx=aaaaa~0&uf=0&ma=2&maval=55&type=4&size=1&lf=16&lf2=4&lf3=0&style=1013&mocktick=1&rand=471931099" alt="" />
 
My bet is Wells Fargo buys them. I swore I read that Bill Gates bought alot of stock of WM recently. Is he not buddies with Warren Buffet who has alot of stock in Wells Fargo? Don't the rich help the rich?? :) Can someone comfirm my theory?
 
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