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wamu gets $7b infusion, cuts jobs, sees big loss

wamu gets $7b infusion, cuts jobs, sees big lossfrom reuters: Washington Mutual Inc, the largest U.S. savings and loan, said on Tuesday it obtained a $7 billion capital injection from private equity firm TPG Inc and other investors, but that mortgage problems will lead to a $1.1 billion quarterly loss and the elimination of 3,000 jobs... WaMu, as the thrift is known, said it expects a first-quarter loss of $1.40 per share, more than twice the 51 cents that analysts on average expected.

  1. […] institutions as the world’s largest economy has entered its second year of recession. Seattle-based lender Washington Mutual became the biggest bank to fail in US history when it was closed in Sep. 2008 due […]

#PumpUpThaVolume: September 18, 2020