Washington Mutual, taking tough actions
December 11, 2007
By: 
Arohan
Category: WM
WaMu today announced widely anticipated dividend cut, operations restructuring and a convertible preferred share offering to infuse about 2.5B in capital. These are much needed actions to bring WaMu balance sheet to sustainable levels and should help WaMu position itself for the future recovery
Atleast the dividend cut has been widely aniticipated, maybe not 73%, and is mostly priced in
In another news, there are some who believe that the housing market is possibly bottoming now
Looks like a good time to bottom fish
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