What a turbulent week it has been on Wall Street. Lehmen Brothers filed bankruptcy, AIG needed a bailout, and now it seems my old pals at Washington Mutual are in trouble.
Washington Mutual Inc (WM.N), the giant U.S. savings and loan beleaguered by mortgage losses, has put itself up for sale, sources familiar with the matter said on Wednesday.
The Seattle-based thrift has hired Goldman Sachs & Co and Morgan Stanley to run an auction and potential suitors include Citigroup Inc (C.N), HSBC Holdings Plc (HSBA.L), JPMorgan Chase & Co (JPM.N) and Wells Fargo & Co (WFC.N), one source said.
A sale is neither imminent nor guaranteed and the thrift is exploring other options, a second source said.
I bet, if WaMu actually took time to work with their customers, they wouldn’t need to put themselves up for sale. If they actually paid attention to their customers, some of us might give a shit if their company lived or died.
As you can tell, I really don’t care.
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