6:20am – WAMU Raises $7 Billion at $8.75 Per Share – TOLD YA!!

Posted on April 8th, 2008 in Daily Mortgage/Housing News - The Real Story

I told you this was ugly. This makes suspect the valuation of all financials. 100% DILUTION! $8.75 secondary offering of common. This is so ugly. Preferred shares too means death-spiral financing.

WAMU WAS ESSENTIALLY GOING BANKRUPT AND WERE BAILED OUT. You mean to tell me that the stock market has priced-in the possibility of the nations largest S&L going bankrupt? Are you kidding me. – Best, Mr Mortgage

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