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Washington Mutual Begins Auction to Sell Itself

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posted on Sep, 17 2008 @ 03:44 PM
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Washington Mutual Begins Auction to Sell Itself


www.cnbc.com

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
(visit the link for the full news article)




posted on Sep, 17 2008 @ 03:44 PM
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If you have an account, you might want to start thinking about your options...

www.cnbc.com
(visit the link for the full news article)



posted on Sep, 17 2008 @ 03:48 PM
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I got a washington mutual credit card that i still owe money on will this affect me at all.



posted on Sep, 17 2008 @ 03:50 PM
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reply to post by Anonymous ATS
 


Chance are that debt will be sold to another company in the auction. No matter what (save for total collapse) you will still owe that money.



posted on Sep, 17 2008 @ 03:50 PM
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I posted this somewhere, thanks for making it an individual thread.

We are screwed, all of us. Dominoes are falling and no one realizes it yet. Tomorrow should be interesting.



posted on Sep, 17 2008 @ 04:21 PM
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hehe this other dude beat you by one minute

www.abovetopsecret.com...

Ill still post here anyways. Good stuff. I actually figured someone would buy them out without having to auction off but hey this works too.



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