WaMu: Hoping and Praying

CNBC is reporting today that Washington Mutual Bank (WaMu) is nearing finalization of a deal where $5 Billion USD will be infused into the financially troubled bank by investors. Last week I talked about my own turbulent experiences with WaMu, and hinted at it's financial distress here.

I think that we will continue to see large financial institutions either acquired or bailed out, like we've seen with Bear Stearns, Countrywide, and others to come (*cough* UBS and Lehman Brothers *cough*).

Keep praying to the Fed WaMu, and perhaps they will save you...

Read the full CNBC article here.