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July 24, 2008 11:51:25 PM CDT

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Stories related to: Washington Mutual

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12 Stories

  • July 2008

    • Could-Have-Been-Worse News Now Cheers Wall Street

      newser  |  New York Times  |  Jul 23, 08 5:56 AM CDT

      Could-Have-Been-Worse News Now Cheers Wall Street

      Yesterday's announcements of multibillion-dollar losses at Wachovia and Washington Mutual were only the latest poundings since the credit crisis took hold a year ago. Yet Wall Street, its expectations at rock bottom, cheered the reports because they could have been worse. Shares in WaMu, which posted a $3.3 billion quarterly fall, soared 6.2%. "We are redefining bad," one risk analyst told the New York Times . More »

      Tags

      subprime mortgages  • recession  • credit crisis  • mortgage backed securities  • Wachovia  • Washington Mutual  • quarterly results

  • June 2008
  • May 2008
  • April 2008

    • Shareholder Revolt Strips WaMu Execs of Fat Pay

      newser  |  Wall Street Journal  |  Apr 16, 08 1:19 PM CDT

      Shareholder Revolt Strips WaMu Execs of Fat Pay

      Washington Mutual shareholders got some of the blood they were out for yesterday, the Wall Street Journal reports, as the company backtracked on a pay scheme that would have shielded company executives from the subprime fallout. Board finance-committee head Mary Pugh also resigned, appeasing investors who blamed her for failing to prevent WaMu’s mortgage-related losses. More »

      Tags

      housing market  • subprime crisis  • shareholders  • executive compensation  • Washington Mutual  • bonuses

    • $6B From Outside Investors Will Shore Up Wachovia

      newser  |  Wall Street Journal  |  Apr 13, 08 10:48 PM CDT

      $6B From Outside Investors Will Shore Up Wachovia

      Ailing bank Wachovia will get a $6 billion-$7 billion shot in the arm from outside investors, the Wall Street Journal reports. Specifics of the capital infusion, designed to help the company recover from the credit crisis, haven’t been finalized. Details may be revealed when the company reports first-quarter earnings Monday; it moved the announcement up from Friday without explanation. More »

      Tags

      credit crisis  • Wall Street  • Wachovia  • Washington Mutual  • sovereign wealth funds  • private equity firms  • mortgage loans

    • Stocks Flat Despite WaMu Deal

      newser  |  Wall Street Journal  |  Apr 7, 08 3:36 PM CDT

      Stocks Flat Despite WaMu Deal

      Stocks were flat today after worries about coming first-quarter earnings reports kept a financial stocks rally from taking hold, MarketWatch reports. The Dow rose 3.01 to 12,612.42; the S&P 500 rose 2.14 to 1,372.54; and the Nasdaq was off 6.15 to close at 2,364.83. More »

      Tags

      S&P 500  • Nasdaq  • Dow Jones Industrial Average  • earnings reports  • Alcoa  • Washington Mutual  • first quarter earnings

  • March 2008
  • December 2007

    • SEC Probes WaMu Home Loans

      newser  |  Wall Street Journal  |  Dec 21, 07 4:06 AM CST

      SEC Probes WaMu Home Loans

      Washington Mutual, one of America's largest mortgage lenders and the biggest savings and loan in the nation, is under investigation by the Securities and Exchange Commission, reports the Wall Street Journal . Regulators suspect some WaMu mortgages were based on inflated appraisals. WaMu, bloodied by the subprime mortgage crisis, lost $348 million on home loans in the third quarter. More »

      Tags

      subprime mortgages  • SEC  • Fannie Mae  • Freddie Mac  • Andrew Cuomo  • Washington Mutual  • WaMu  • appraisals

  • September 2007

    • Stocks Dip on Mortgage Fears

      newser  |  Bloomberg  |  Sep 28, 07 3:22 PM CDT

      Stocks Dip on Mortgage Fears

      The markets dropped today on news that mortgage defaults last month climbed 30% from a year earlier, more evidence that foreclosures are on the rise. Wells Fargo and Washington Mutual tumbled, and the Dow dipped 17.31 to 13,895.63. Stocks bottomed out after a Fed official said players shouldn’t “bake into the cake” future rate cuts, Bloomberg reports. More »

      Tags

      S&P 500  • Nasdaq  • Dow Jones  • foreclosure  • Medicare  • Wells Fargo  • Washington Mutual  • Fed

  • August 2007

    • Countrywide Cuts 500 Jobs

      newser  |  Los Angeles Times  |  Aug 21, 07 10:54 AM CDT

      Countrywide Cuts 500 Jobs

      The nation's top home lender is cutting 500 jobs in its subprime mortgage units in response to the high-risk-lending mess. Before the cuts announced yesterday, Countrywide was actively hiring workers who had been fired from other companies, the LA Times reports. Meanwhile, Capital One said it will close the unit that made jumbo loans to borrowers without fully documented assets. More »

      Tags

      subprime mortgages  • home loans  • Countrywide  • Washington Mutual  • Capital One  • Greenpoint

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