clock menu more-arrow no yes mobile

Filed under:

Et Tu, WaMu?

New, 40 comments

The Mortgage Meltdown Monster looks like it may be ready to devour its latest victim. "WaMu stock dropped 26 cents, or 11.2 percent, to $2.06 in afternoon trading, after earlier hitting a low of $1.75. The company's shares plummeted about 30 percent on Wednesday to a 17-year low of $2.32... With losses in its mortgage portfolio expected to peak at $19 billion, the Seattle-based bank could be Wall Street's next casualty, some analysts believe." [nbc4]