A must read article on Minyanville.com puts the smack down on General Electric (NYSE:GE) shares, and another one from Bloomberg.com isn't going to help shareholders come tomorrow or the foreseeable future.  GE shares get ready to battle the media. Let's face it, when fear is driven into the hearts of investors, no matter how it gets there, word of mouth, CNBC, your baby's momma -- it's fear none the less. When that happens, investors bail, and the selling could jump start now that the media is tearing GE a new one. General Electric (NYSE:GE) appears to be a "cheap stock" when you consider traditional investing measures: P/E now under 10, at 7.67. Shares are of GE are now $16 down 58% in the last year. It's a company we have all grown up with, same ...

.S. Treasury Secretary Henry M. “Hank” Paulson Jr. warned former Washington Mutual Inc. (OTC: WAMUQ) Chief Executive Officer Kerry Killinger to sell the thrift to JPMorgan Chase & Co. (JPM) two months before WaMu failed, both The Seattle Times and Bloomberg News reported. According to the published reports, Paulson telephoned Killinger and told him that “you should have sold to JPMorgan Chase in the spring, and you should do so now. Things could get a lot more difficult for you.” The Times report quoted a WaMu executive who was familiar with the incident, but didn’t disclose the source’s name. Sign up below… and we’ll send you a new investment report for free: “Credit ...

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.

Tags: WAMU  Washington Mutual

Just as Washington Mutual, Inc. (NYSE:WM) shares are 20 Cents away from a 52-week low, Kerry Killinger gets knocked off as chairman.  He's still the CEO, but let's face it, once you run the company shares down from $44 to $8 it's only a matter of time.  Killinger's days are now officially numbered. Today WaMu announced independent director Stephen E. Frank will take over July 1 as chairman. The company says it is one of several measures to strengthen corporate governance and return to profitability. WaMu shares ...

The market is cheap on earnings.

The subprime issue is contained.

That’s been the mantra. I think the mantra is wrong. While the overall market is not expensive on earnings, certain parts are a lot more expensive than they look. Why? Well the earnings growth estimates are a hoax right now, specifically in the financial sector. Do they really know what’s on their books? Do they really know their exposure? How would they know? Can some of these mortgage companies look into the hearts and minds of their newfound (2005/2006) borrowers and tell who is going to default? I know they exported much of these risks in CDOs to hedge funds, but their is still exposure - but no one knows how much. So their earnings are at serious risk.