Friday, September 26, 2008

Stuffed that one up

FDIC confiscates WaMu.

Now we find out what WaMu has not been telling us.

It had (a) enough liquidity for next year (or so it said), and (b) some capital left.

I lost.  It was a moderate position - but it hurts.


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The content contained in this blog represents the opinions of Mr. Hempton. Mr. Hempton may hold either long or short positions in securities of various companies discussed in the blog based upon Mr. Hempton's recommendations. The commentary in this blog in no way constitutes a solicitation of business or investment advice. In fact, it should not be relied upon in making investment decisions, ever. It is intended solely for the entertainment of the reader, and the author.  In particular this blog is not directed for investment purposes at US Persons.