mercredi 17 septembre 2008

You may be about to own another company. Do you feel rich yet?


Someday, son, all this may be yours.


You already own an insurance company. How about a bank next?
Washington Mutual (WM), a company that once considered itself the Starbucks (SBUX) of banking, now has a stock price lower than that of a latte.

Shares of the Seattle company, the nation's largest savings and loan, fell 27% on Sept. 15, to $2 a share, following news that other struggling financial-services giants Lehman Brothers (LEH) and Merrill Lynch (MER) had succumbed to the mortgage meltdown. WaMu shares rose 16% on Sept. 16 to close at 2.32 as investors responded to rumors that banking giant JPMorgan Chase (JPM) may make an offer for the company.


And if JPMorgan Chase does not? How much worthless cash is Paulson going to print up to prop up this one?

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