WaMu up for bid

[REWahoo]

Next!

"Washington Mutual, the nation's largest thrift, has put itself up for sale, the New York Times reported on Wednesday, citing unidentified people briefed on the matter."

"Goldman Sachs, which has been hired to advise WaMu, started an auction several days ago, the newspaper reported."

[Purron]

I bid $22.59.

[2B]

It was obvious that WaMu was going to go away. I am curious to see if it's a "sale" or if the FDIC forces the issue.

WaMu has been hammered relentlessly for many months. Their published financial data says they are safely solvent but contaminated with massive subprime writeoffs. What's true and what's short seller rumor? If acquirers go through their books, the truth will be known.

I would view an actual sale to be a significant positive. The b*st*rtds that sold my father his VA would be gone plus it would signal that they really do have assets.

In our current environment, there is no good news. Right now good news is really bad news and bad news is a disaster.

[cute fuzzy bunny]

Yep, they're a bunch of idiots.

I bid a six pack of diet grapefruit soda (what was I thinking?) and an open bag of jelly beans, some of which may have been licked by my son and put back.

[copyright1997reloaded]

Quote:

Originally Posted by cute fuzzy bunny Yep, they're a bunch of idiots. I bid a six pack of diet grapefruit soda (what was I thinking?) and an open bag of jelly beans, some of which may have been licked by my son and put back.

When I saw the blurb on the newswires, my instant message to a friend was "Ever see negative bidding before"?

[2B]

Quote:

Originally Posted by copyright1997reloaded When I saw the blurb on the newswires, my instant message to a friend was "Ever see negative bidding before"?

That's what you get if the FDIC is involved. A real sale would get a positive price without FDIC support. That just might convince people that there actually may be some value in financial stocks. This market will turn when what everyone knows is shown to be wrong.