specultr wrote:
I logged into my brokerage account to get an after-hours quote for WaMu (WM). It lost $1.24 (73.37%)and is now priced for a total loss for the shareholders at $0.45.
WaMu was seized in the largest bank failure in US history. It is all over for WaMu and the stockholders will get very little if anything.
The entire credit card portfolio has value so I am sure Chase will cherry pick what they want and sell of the rest and the operations end of it to someone else. I suspect that wonderful Providian website we know and love will live on for some time - longer for those who won't be moving to Chase.
Message Edited by jmbfl on
09-25-2008 09:22 PM