Chasing Value: Not -- WaMu one week later - ouch!

Dude, the drop in price of WM had nothing to do with Killenger leaving. It had to do with the spread on their credit default swaps opening up like the grand canyon to swallow WM whole.

WM cannot borrow money now. They cannot make new loans. They are dead unless they get some kind of bond rating increase which is just not happening.

WAMU has been my bank since 2003.
I am definitely a dummy when it comes to investment news bits- can you, please, fill me in on what's happening with the bank???
Is Killinger leaving??

It had to be worth $2.00 when I bought it. Do you really think the new
CEO would have come on board a sinking ship? These guys like feathers in their cap.
Every story about WAMU is preceeded by a Leman Bros. story. When that gets put to bed the new CEO will have it together. Don

attoca: Here is an answer, Best part is the price went up 50 cents after the market closed.
DOW JONES NEWSWIRES

Washington Mutual Inc. (WM) late Thursday said its third-quarter provision for loan losses will fall by $1.4 billion from the second quarter, but net charge-offs - loans it doesn't think are collectable - will increase by less than 20%.
The troubled savings and loan - the nation's largest - said it would set aside $4.5 billion to offset current and future losses from souring mortgages, down from the $5.91 billion it set aside in the second quarter, while also saying its liquidity is stable at about $50 billion and net interest income will be in line with the second quarter.
The company's Tier 1 leverage and total risk-based capital ratios at June 30 were 7.76%, and 13.93%, respectively - significantly above the regulatory requirements for well-capitalized institutions. WaMu said it expects both ratios to remain significantly above the levels for well-capitalized institutions at the end of the third quarter.
The company expects its total loan-loss reserve to increase to about $10.3 billion at the end of the third quarter from $8.5 billion at June 30.
The company offered an early look at its third-quarter expectations just days after it named Alan Fishman to succeed ousted Chief Executive Kerry Killinger on Monday. Shares have fallen 34% this week, hitting a two-decade low, as the executive shake-up did little to restore investor confidence.
WaMu has a monumental task in dealing with the sheer number of delinquent mortgages it holds, and it remains unclear how much loan losses will rise before things get better. Earlier this year, the company cut more than 10% of its work force as part of an effort to lower costs by $500 million to $600 million annually.
WaMu shares were up about 6% to $3 in after-hours trading

My unscientific anecdotal information about WM is that they have many stupid customers and this must by logc extend to their loan customers. For basically all of 2006 and 2007, the #1 phony "phishing" email scam of all the spam emails I received (neatly filtered out by mailwasher.net spftware for free) was for Washington Mutual. Spammers tend to re-target customer bases that tend to respond. That tells me that WAMU customers where target rich environment for those 2 years. As the 2/28 loans those borrowers took out continue blowing up, WM stock will continue to tank. Wamu is finished.

Sorry Rex. Seems logical that the stock price is more a function of managements intelligence
than of the amount of spam they send. Now there is new management.
You obviously aren't an investor so why do you care?? don