Maui Investor

With Countrwide "Contained," Is Washington Mutual Next?

Interesting perspective on WM. Personally, I think BAC made a bad initial investment in CFC and doubled down. I'm not so sure the other large banks will be as aggressive in going after Wamu. I think its too much of a risk for anyone other than JPM, and I think their Board has a responsibility not to take their share price down on such a gamble. An acquirer has to consider that the Bush administration will be around for less than a year so what assurances does a Wamu buyer have that they will be taken care of in 2009 when more problems could surface in their ARM portfolio?