Friday, April 11, 2008

Goldman Estimates WaMu Losses at up to $23 Billion

by Bill McBride on 4/11/2008 10:33:00 AM

From Bloomberg: Washington Mutual Falls on Short Sale Recommendation

``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. Washington Mutual may have a $14 billion provision charge in 2008 ...
Yes - a rare 'short sale' recommendation - but what really got my attention was the loss estimate!

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