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Washington Mutual Stock Under Heavy Assault

user profile picture Chris Martenson Sep 10, 2008
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The stock price of Washington Mutual (WM) is down another 25% this morning, at well under $3/shr.

There is no way for this company to raise capital, and therefore no way for this company to survive without a bailout. This company is toast. Time to write the obituary.


I am expecting FDIC receivership any day now, perhaps this weekend?  Who knows.
 

Whatever the case, I would not have my money in this institution at this time.  I’d find a safer bank.