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.
by zymur1