Wednesday, September 17, 2008


From the New York Post:

The fate of Washington Mutual remained in question yesterday as federal regulators recently called a number of banks asking if they would consider buying the nation's largest savings and loan should it eventually falter, sources told The Post.

In recent days, federal banking regulators have reached out to Wells Fargo, JPMorgan Chase, HSBC and several other financial institutions to gauge their interest in a possible acquisition of WaMu, but no merger discussions are currently under way between the Seattle-based bank and anyone else, sources said.

The move comes as investors worry that WaMu's customers could begin pulling their money, which totals about $143 billion, out of the bank should its stock fall further.

That doesn't appear to be happening now, but several WaMu customers in the New York area told The Post yesterday that they were worried about their cash....MORE

HT: Calculated Risk

See also:

Washington Mutual, Wachovia: Are Your Bank Deposits Safe? Not Exactly (WB; WM)

S&P cuts Washington Mutual credit rating to junk. And: Chase seen as a likely suitor (JPM; WM)

Is Washington Mutual Going to be the Next Bank to Fail? FDIC Would Be Out of Money (WM)

Up the WaMu? (WB;WM)

The Next Bailout