Given that I have written about WaMu enough for one lifetime over the past two years, I will leave tonight’s actual event alone.
However, I will say that I feel the real news here is that WaMu was not on the FDIC’s ‘Problem Institutions’ list recently released, judging by the amount of assets within said insitutions. If WaMu was not on the list, why even have one?
Lastly, there is the strong possibility of a major REO and note dump, which will add a large amount of inventory to an already pounded market in the West Coast. According to our data, I estimate they sit atop $10bb in foreclosed properties and twice that amount of non-performing notes. They will be very lucky to get half of that amount through liquidation. -Best Mr Mortgage
Perhaps its time to re-read my post on July 27th to see how amazing it actually was she made it this long.