Wednesday, September 17, 2008

U.S. regulators try to find WaMu buyer: report

This is off Yahoo News:

(Reuters) - U.S. federal regulators recently called a number of banks asking if they would consider buying Washington Mutual Inc (WM.N) should it eventually falter, the New York Post said, citing sources.

Federal banking regulators, in recent days, contacted Wells Fargo & Co (WFC.N), JPMorgan Chase & Co (JPM.N), HSBC (HSBA.L) and several other financial institutions to gauge their interest in a possible acquisition of WaMu, the paper said.

No merger discussions are currently under way between the Seattle-based bank and anyone else, the sources told the paper.

Washington Mutual could not be immediately reached for comment.

(Reporting by Ajay Kamalakaran in Bangalore; Editing by Paul Bolding)

So, are the Feds going to bail out WaMu?

And just to note, the Dow has now plunged 350 points today on the news of the Fed's buyout of AIG.

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