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WaMu Chief Warns of 'Perfect Storm' in housing market

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WaMu Chief Warns of 'Perfect Storm' in housing market

WaMu dropped 3% after CEO Kerry Killinger said at a Lehman Brothers conference in New York that the housing industry is headed for a "near perfect storm."
He said the lender, which has already boosted its provision for loan losses this year, may have to sock away an added $500 million as housing markets continue to weaken.

Elsewhere in the mortgage sector Monday, Countrywide sank 6% as news from the mortgage industry continues to get uglier ..................




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