WaMu Deal Could Take Time
Updated from Monday, Sept. 22
Investors at Washington Mutual (WM) are growing increasingly anxious about the fate of the ailing bank, but a resolution could still be some days away.
Washington Mutual shares slumped 20% on Monday, following a Wall Street Journal report that the nation's largest thrift is being pressured by regulators to either sell itself or recapitalize. The Financial Times on late Monday reported that the Office of Thrift Supervision was pushing for a quick resolution to the situation. The regulator could push to broker a deal to split WaMu's assets -- both good and bad -- among several banks.
But as the federal government makes headway on a plan to buy up to $700 billion in bad mortgage assets, potential WaMu suitors may prefer to wait until the plan is more formalized before making a deal, some analysts and other banking industry veterans say."The bailout plan made
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