Washington Mutual on track to post worst-ever stock drop since IPO

[FrankRep]

WaMu on track to post worst-ever stock drop since IPO

Market Watch
7/14/2008


Washington Mutual could suffer its biggest-ever share price drop since the company went public in March 1983. The Seattle-based company, the largest savings and loan association in the U.S., saw its stock crash almost 35% lower to $3.28 Monday. The second-highest price drop was on October 19, 1987, when the stock sank almost 18%. The company is the sole surviving major Seattle-based bank after the flurry of mergers in the 1980s and 1990s, which ended the independence of banks like Rainier Bank, Seafirst Bank, and Peoples National Bank.

http://www.marketwatch.com/News/Story/Story.aspx?guid={B8BA65D0-A6E6-4A45-9F2C-A917E0992937}&siteid=yhoof2


Yahoo Stock:
http://finance.yahoo.com/q?s=WM

 

[LiveFree79]

With all these banks failing the market is only down 45 points?

 

[muh_roads]

With all these banks failing the market is only down 45 points?

Plunge protection team working the midnight oil yet they still fail.

 

[JSCHAFER1337]

Does this mean I should take all of my money out before it become Washington Mutual Federal Bank?

 

[muh_roads]

Does this mean I should take all of my money out before it become Washington Mutual Federal Bank?

You are in a forum called "Economics & Sound Money"

US Dollars are not "sound". I think you should know the answer to your question.

 

[JSCHAFER1337]

Haha, I know, but as a poor college student, I have few choices with my limited assets. I've put about $800 in silver rounds, next I'm looking to open a high interest account with Everbank. If you've got a better idea for someone like me, let me know.

 

[danberkeley]

With all these banks failing the market is only down 45 points?

DJIA isnt only composed of financials. Alcoa is up. Also, Lehman and Freddie mac and Fannie Mae arent components of the DJIA.