Tuesday, June 24, 2008

WaMu Analyst Competition

by Bill McBride on 6/24/2008 07:45:00 PM

From Matt Padilla at the O.C. Register: How bad are things at WaMu?

Lately equities analysts seem to be competing on who can make the most dire prediction for Washington Mutual’s future loan losses.

Reuters reports today that WaMu, as the company is known, may set aside as much as $30 billion in credit losses through 2011, predicts Lehman Brothers analyst Bruce Harting.

That tops the $27 billion of losses that UBS analyst Eric Wasserstrom on June 9 said the nation’s largest thrift could face.
Wow. $30 billion. That is a huge number. But in the current environment, I'll take the over. Or is that the under when we are talking about losses? See Matt's post for more.