So who's gonna buy it.

[patgund]

Never fails. I find a bank I like, and they get taken over or sold. Usually by someone pretty slimy to boot. Happened with CalFed, happened with Crocker, happened with Security Pacific. Now it looks like WaMu is going on the shopping block.

WaMu scrambles to stay alive; it may be trying to find buyer

"WaMu's options seemed to be narrowing almost hourly. With other troubled financial firms seeking buyers to avoid bankruptcy or federal takeover, fewer and fewer companies have both the means and the potential desire to buy WaMu.

"The cumulative, corrosive effect of all the bad news" is forcing WaMu's hand, said Bert Ely, a banking-industry consultant in Alexandria, Va. "They're kind of twisting in the wind, and the pressure of time is working against them."

Most often mentioned as potential buyers were JPMorgan Chase, Wells Fargo and HSBC. Other names observers suggested include Citigroup, U.S. Bancorp, Barclays, Banco Santander and BNP Paribas, parent of Bank of the West."


[Poll #1262384]

Comments

Sigh

[morgan-gw.livejournal.com]

And it finally hits home. Our mortgage (not a sub-prime, a regular one) is with WaMu. Now we wait...

[selenesue.livejournal.com]

Shoot. I got away from Wells Fargo on purpose.

I was thinking maybe Bank of America would close in, they're in a buying mood these days.

[the-celestia.livejournal.com]

I sure hope not. I'm with WaMu and have been very happy with them, but Bank of America and I have a long standing hatred for one another.

[selenesue.livejournal.com]

Me too actually. The only reason I do any business with any of their subsidiaries is because in the middle of my processing, my mortgage lady was laid off when WaMu closed all their exterior loan offices [not in banks] and went to Countrywide... which then got bought by BofA. ::headdesk:: Well, I can't complain too much, she's got a job and I got a loan. But still, what timing!

My actual guess is Chase, which probably wants to expand to the west coast and WaMu has already assimilated the states to its south. Just my guess as a novice amateur economist.

[caitlin.livejournal.com]

Bank of the West/Bank Paribas isn't bad...

I just hope they can handle it.

Although the amusing part would be that my 2 banks would be merging... so to speak.

[buddykat.livejournal.com]

WaMu's big enough that my guess is that it might actually get sliced and diced among multiple different banks. One of the articles I've read said the same thing, and with the way things are going it makes sense.

[libertarianhawk.livejournal.com]

IIRC that's the bank that bought the bank that bought the bank where celticdragonfly used to work.