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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (56332)	4/11/2008 8:38:19 AM
From: MulhollandDrive	Read Replies (1) \| Respond to of 57110

:) good move, (of the non-hasty type) WaMu Estimate Cut by Goldman; Short Sell Recommended (Update1) By Andrew Frye Enlarge Image/Details April 11 (Bloomberg) -- Washington Mutual Inc., the largest U.S. savings and loan, had its earnings estimate cut by Goldman Sachs Group Inc. analysts, who recommended selling the shares short. The lender declined 5.9 percent in early trading. Washington Mutual will probably lose $3.30 a share this year, Goldman Sachs analysts, including New York-based James Fotheringham, said today in a note to investors. Goldman previously forecast a 2008 loss of $1 a share for the Seattle- based company. The lender raised $7 billion this week from a group of investors led by David Bonderman's TGP Inc. after losses on subprime loans ate up capital. Washington Mutual may have a total of $23 billion in mortgage-related losses, Goldman said today. The firm cut its 12-month price target on shares of Washington Mutual, also known as WaMu, by 17 percent to $10. ``Given WaMu's disproportionate exposure to states'' where home prices are forecast to decline, Goldman expects losses between $17 billion and $23 billion, the analysts wrote. To contact the reporter on this story: Andrew Frye in New York at afrye@bloomberg.net Last Updated: April 11, 2008 08:13 EDT

To: Jorj X Mckie who wrote (56332)	4/14/2008 9:06:03 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 57110

Hey look, a community that makes Orange County look "not so bad". Largest U.S. Municipal Bankruptcy Looms in Alabama: Commentary by Joe Mysak April 11 (Bloomberg) -- They're talking more about Chapter 9 municipal bankruptcy in Jefferson County, Alabama, the home of the largest city in the state, Birmingham. Who can blame them? The county is now being whipsawed by an ill-thought-out debt policy and the collapse of the bond insurers. Credit-rating downgrades all around have triggered a series of events that are no longer in the county's control, leaving it at the mercy of securities firms that have little room for maneuver themselves. bloomberg.com