{"id":2731,"date":"2008-09-11T07:54:13","date_gmt":"2008-09-11T14:54:13","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=2731"},"modified":"2008-09-11T07:55:12","modified_gmt":"2008-09-11T14:55:12","slug":"open-wamu-thread","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2008\/09\/11\/open-wamu-thread\/","title":{"rendered":"Open WaMu Thread"},"content":{"rendered":"

Here’s a piece from Bloomberg News yesterday on WaMu’s troubles: Rule hobbling suitors batters WaMu stock<\/a><\/p>\n

Shares of Washington Mutual fell 29.7 percent to a nearly 18-year low Wednesday on concern a new accounting rule could hinder attempts to find a buyer.<\/p>\n

WaMu stock dove 98 cents to $2.32, the lowest close since November 1990. The stock of the Seattle company, the nation’s biggest savings and loan, has tumbled nearly 46 percent since the board Monday announced the ouster of CEO Kerry Killinger, and the shares are down 93 percent in the past year.<\/p>\n

Potential acquirers ended talks to buy WaMu this year in part because the accounting rule would force buyers to compute a target’s assets at market prices instead of deriving values from measures including the purchase price, two bankers involved with the talks said.
\n…
\nNewly installed WaMu Chief Executive Alan Fishman, who sold the last bank he ran, said Monday a sale wasn’t in the bank’s future. “You don’t build a company to sell it,” he said.<\/p>\n

Fishman was CEO of Brooklyn’s Independence Community Bank, which was sold to Philadelphia-based Sovereign Bancorp in 2006.<\/p>\n

Others aren’t so sure.<\/p>\n

“The market will likely view the removal of WaMu’s former CEO as the last remaining hurdle for the board to consider pursuing a possible sale,” Merrill Lynch analyst Kenneth Bruce wrote Monday to investors. Complicating a potential sale: “the poor quality of WaMu’s loan portfolio.”<\/p><\/blockquote>\n

Anybody out there still have money at WaMu? What’s the consensus among Seattle Bubble readers on the bank’s chances of lasting beyond this month?<\/p>\n

There’s been quite a bit of talk about WaMu in the last week, so consider this your open thread to air your thoughts, worries, and hopes for WaMu.<\/p>\n

(Bloomberg News<\/a>, 09.11.2008<\/em>)<\/p>\n","protected":false},"excerpt":{"rendered":"

Here’s a piece from Bloomberg News yesterday on WaMu’s troubles: Rule hobbling suitors batters WaMu stock Shares of Washington Mutual fell 29.7 percent to a nearly 18-year low Wednesday on concern a new accounting rule could hinder attempts to find a buyer. WaMu stock dove 98 cents to $2.32, the lowest close since November 1990….<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[198],"tags":[111],"coauthors":[],"class_list":["post-2731","post","type-post","status-publish","format-standard","hentry","category-news","tag-wamu"],"yoast_head":"\nOpen WaMu Thread \u2022 Seattle Bubble<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seattlebubble.com\/blog\/2008\/09\/11\/open-wamu-thread\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Open WaMu Thread \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"Here’s a piece from Bloomberg News yesterday on WaMu’s troubles: Rule hobbling suitors batters WaMu stock Shares of Washington Mutual fell 29.7 percent to a nearly 18-year low Wednesday on concern a new accounting rule could hinder attempts to find a buyer. WaMu stock dove 98 cents to $2.32, the lowest close since November 1990....\" \/>\n<meta name=\"twitter:creator\" content=\"@The_Tim\" \/>\n<meta name=\"twitter:site\" content=\"@SeattleBubble\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"The Tim\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2008\/09\/11\/open-wamu-thread\/\",\"url\":\"https:\/\/seattlebubble.com\/blog\/2008\/09\/11\/open-wamu-thread\/\",\"name\":\"Open WaMu Thread \u2022 Seattle Bubble\",\"isPartOf\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/#website\"},\"datePublished\":\"2008-09-11T14:54:13+00:00\",\"dateModified\":\"2008-09-11T14:55:12+00:00\",\"author\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f\"},\"breadcrumb\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2008\/09\/11\/open-wamu-thread\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/seattlebubble.com\/blog\/2008\/09\/11\/open-wamu-thread\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2008\/09\/11\/open-wamu-thread\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/seattlebubble.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Open WaMu Thread\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/#website\",\"url\":\"https:\/\/seattlebubble.com\/blog\/\",\"name\":\"Seattle Bubble\",\"description\":\"local\u00a0real\u00a0estate\u00a0news, statistics,\u00a0and\u00a0commentary without\u00a0the\u00a0sales\u00a0spin.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/seattlebubble.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f\",\"name\":\"The Tim\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/image\/37756956c11dcc50d2559761ffa5ee70\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/19e5770990a1681615608091b2de571b10c3e03bbac7d07bb2ae15297ee72fbc?s=96&d=retro&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/19e5770990a1681615608091b2de571b10c3e03bbac7d07bb2ae15297ee72fbc?s=96&d=retro&r=g\",\"caption\":\"The Tim\"},\"description\":\"Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer \/ internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market. Tim also hosts the weekly improv comedy sci-fi podcast Dispatches from the Multiverse.\",\"sameAs\":[\"http:\/\/SeattleBubble.com\/\",\"http:\/\/facebook.com\/is.totally.pointless\",\"https:\/\/x.com\/The_Tim\"],\"url\":\"https:\/\/seattlebubble.com\/blog\/author\/timothyellis\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Open WaMu Thread \u2022 Seattle Bubble","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/seattlebubble.com\/blog\/2008\/09\/11\/open-wamu-thread\/","twitter_card":"summary_large_image","twitter_title":"Open WaMu Thread \u2022 Seattle Bubble","twitter_description":"Here’s a piece from Bloomberg News yesterday on WaMu’s troubles: Rule hobbling suitors batters WaMu stock Shares of Washington Mutual fell 29.7 percent to a nearly 18-year low Wednesday on concern a new accounting rule could hinder attempts to find a buyer. WaMu stock dove 98 cents to $2.32, the lowest close since November 1990....","twitter_creator":"@The_Tim","twitter_site":"@SeattleBubble","twitter_misc":{"Written by":"The Tim","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/seattlebubble.com\/blog\/2008\/09\/11\/open-wamu-thread\/","url":"https:\/\/seattlebubble.com\/blog\/2008\/09\/11\/open-wamu-thread\/","name":"Open WaMu Thread \u2022 Seattle Bubble","isPartOf":{"@id":"https:\/\/seattlebubble.com\/blog\/#website"},"datePublished":"2008-09-11T14:54:13+00:00","dateModified":"2008-09-11T14:55:12+00:00","author":{"@id":"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f"},"breadcrumb":{"@id":"https:\/\/seattlebubble.com\/blog\/2008\/09\/11\/open-wamu-thread\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/seattlebubble.com\/blog\/2008\/09\/11\/open-wamu-thread\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/seattlebubble.com\/blog\/2008\/09\/11\/open-wamu-thread\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/seattlebubble.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Open WaMu Thread"}]},{"@type":"WebSite","@id":"https:\/\/seattlebubble.com\/blog\/#website","url":"https:\/\/seattlebubble.com\/blog\/","name":"Seattle Bubble","description":"local\u00a0real\u00a0estate\u00a0news, statistics,\u00a0and\u00a0commentary without\u00a0the\u00a0sales\u00a0spin.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/seattlebubble.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f","name":"The Tim","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/image\/37756956c11dcc50d2559761ffa5ee70","url":"https:\/\/secure.gravatar.com\/avatar\/19e5770990a1681615608091b2de571b10c3e03bbac7d07bb2ae15297ee72fbc?s=96&d=retro&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/19e5770990a1681615608091b2de571b10c3e03bbac7d07bb2ae15297ee72fbc?s=96&d=retro&r=g","caption":"The Tim"},"description":"Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer \/ internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market. Tim also hosts the weekly improv comedy sci-fi podcast Dispatches from the Multiverse.","sameAs":["http:\/\/SeattleBubble.com\/","http:\/\/facebook.com\/is.totally.pointless","https:\/\/x.com\/The_Tim"],"url":"https:\/\/seattlebubble.com\/blog\/author\/timothyellis\/"}]}},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p6wh0F-I3","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/posts\/2731","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/comments?post=2731"}],"version-history":[{"count":0,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/posts\/2731\/revisions"}],"wp:attachment":[{"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/media?parent=2731"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/categories?post=2731"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/tags?post=2731"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/seattlebubble.com\/blog\/wp-json\/wp\/v2\/coauthors?post=2731"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}