Regulators try to broker WaMu deal: reports
NEW YORK (Reuters) - U.S. regulators are trying to quickly broker a deal for Washington Mutual Inc, a large U.S. savings and loan crippled by mortgage losses, the New York Times reported on Thursday.
http://www.reuters.com/article/newsOne/idUSTRE48O4Y820080925
Why should this emergency regulator brokered deal be necessary if the Bailout Bill will provide $700 billion to clear WaMu’s balance sheet of “troubled” mortage backed liabilities? Doesn’t make sense. They are preparing us for the next big shoe to drop...commercial bank runs...leading to further consolidation.
Thursday, September 25, 2008
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