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Seattle Bubble Forum Archive • View topic - WAMU Is Screwed - title pulled directly frim article

WAMU Is Screwed - title pulled directly frim article

How will housing affect the US and world economy? How will the economy affect housing?

Moderators: synthetik, The Tim, Lake Hills Renter

WAMU Is Screwed - title pulled directly frim article

Postby Robroy » Thu Jul 24, 2008 6:43 am

It is MISH (MIchael Shedlock) on the WAMU situation. Very interesting read with links to supporting information. If the Federal Gov does not step in, there could be a LOT of vacant office space in downtown Seattle.

His take - WAMU has no plans to raise capitol because it is in a classic financial "death spiral".

http://seekingalpha.com/article/86462-c ... -financing
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Re: WAMU Is Screwed - title pulled directly frim article

Postby david_mcmanus » Thu Jul 24, 2008 8:12 am

Stock back down under 4. Nice 40% drop so far this week. Things are cool, though, so says RAL.
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Re: WAMU Is Screwed - title pulled directly frim article

Postby biliruben » Thu Jul 24, 2008 9:34 am

I like Mish (I've been reading him for over a decade), but you usually gotta take what he says and divide by 10. In this circumstance, he's probably right. My guess is they'll be bought. For not very much.
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Re: WAMU Is Screwed - title pulled directly frim article

Postby Robroy » Thu Jul 24, 2008 9:37 am

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Re: WAMU Is Screwed - title pulled directly frim article

Postby sniglet » Thu Jul 24, 2008 11:56 am

So just what would the implications of a WaMu conservatorship be?
Not much seems to have happened now that IndyMac has went bust. In fact, some people are saying this is positive because the FDIC will now be more flexible with loan modifications.

Would we really see much of a direct impact on our local real-estate market if WaMu was siezed by the FDIC?

By the way, I see that unsecured creditors are starting to pulling out of WaMu making their liquidity problems more severe.

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Re: WAMU Is Screwed - title pulled directly frim article

Postby Robroy » Thu Jul 24, 2008 12:17 pm

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