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[Most Recent Quotes from www.kitco.com]

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Bloomberg flexes its muscle on WaMu (WM)

Stockmasters Staff (September 10th, 2008) Writes:
After Bloomberg.com wrote this article, WaMu May Lose Suitors on Accounting Rule; Stock Plummets 30%, WM shares hit $2.30.  The Power of the Media, but this article is right on the money. The opening of the article made investors sell like crazy this morning: Chief Executive Officer Alan Fishman, who sold the last bank he ran, may not be able to repeat the feat because new accounting rules for devalued ...
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Washington Mutual Fires CEO

Daniel Shepard (September 8th, 2008) Writes:

Washington Mutual (WM) on Sunday, announced that it is replacing its CEO Kerry Killinger with Alan Fishman. Alan Fishman is currently the Chairman of commercial mortgage broker Meridian Capital Group. He was also the President and CEO of Sovereign Bank up until 2007.

Washington Mutual (WM) lost $3.6 billion in the quarter that ended June 30 and the bank expects that its mortgage related losses could run between $12 billion and $19 billion in 2008.

Washington Mutual (WM) is another victim of the credit crisis. Its stock which is currently trading at $4.27, has lost 68% this year and as foreclosures keep increasing nationwide, the company’s losses keep mounting.

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