Bank Regulators Try To Auction Washington Mutual (WM)?

Bank regulators may be trying to find a home for Washington Mutual (WM). According to The New York Post, "The fate of Washington Mutual remained in question yesterday as federal regulators recently called a number of banks asking if they would consider buying the nation’s largest savings and loan should it eventually falter."

With banks refusing to lend money to other banks due to the deepening credit crisis, the odds that they will provide capital to homeowners are long.

Washington Mutual’s portfolio of home loans and mortgage-related paper make it likely to be the next candidate for a liquidation.

WaMu won’t make it.

Douglas A. McIntyre