WaMu shares battered by capital concerns - Spokane, North Idaho News & Weather KHQ.com

WaMu shares battered by capital concerns

NEW YORK, N.Y. - Washington Mutual shares continued their downward spiral as investors wagered on which financial firm could be next to fall. WaMu plunged 73 cents or 26.7 percent to close at two dollars after losing 36 percent last week.

Shares have continued to fall in after-hours trading, dropping 16 cents or 8 percent to a dollar and 84 cents. The stock is down about 85 percent for the year, and Standard & Poor's Ratings Service cut its counterparty credit rating on WaMu late Monday to the junk level, double-B-minus, from triple-b-minus.

The stock was downgraded last week by Moody's and Fitch last week. The Seattle-based thrift has significant exposure to risky mortgage securities and other assets, and concern about whether WaMu has enough capital to ride out the credit crisis has been mounting. Investors were further spooked Monday by the bankruptcy filing of Lehman Brothers and the sale of Merrill Lynch to Bank of America.

  • Most Popular StoriesMost Popular StoriesMore>>

  • Spokane Police find body of teenage boy in Hangman Valley area

    Spokane Police find body of teenage boy in Hangman Valley area

    Wednesday, June 28 2017 7:46 PM EDT2017-06-28 23:46:32 GMT

    SPOKANE, Wash. - Spokane Police say officers found the body of a teenage boy in the Hangman Valley area early Wednesday morning. Officer Ben Green would not give an exact location where the body was found, but did say family reported the boy missing earlier in the day. Officers would not officially identify the young man, but according to The Spokesman Review, who cited SPD, it appears he committed suicide. 

    >>

    SPOKANE, Wash. - Spokane Police say officers found the body of a teenage boy in the Hangman Valley area early Wednesday morning. Officer Ben Green would not give an exact location where the body was found, but did say family reported the boy missing earlier in the day. Officers would not officially identify the young man, but according to The Spokesman Review, who cited SPD, it appears he committed suicide. 

    >>
  • Neighbors work together to bust burglar in West Central Spokane

    Neighbors work together to bust burglar in West Central Spokane

    Thursday, June 29 2017 2:10 AM EDT2017-06-29 06:10:16 GMT

    SPOKANE, Wash. - A burglar in Spokane got way more than he anticipated Wednesday when he picked the wrong neighborhood to target. Two men in the West Central neighborhood take their neighborhood watch to a whole new level. It's been a rough few weeks for Dominic Hoag and his family.

    >>

    SPOKANE, Wash. - A burglar in Spokane got way more than he anticipated Wednesday when he picked the wrong neighborhood to target. Two men in the West Central neighborhood take their neighborhood watch to a whole new level. It's been a rough few weeks for Dominic Hoag and his family.

    >>
  • Post Falls family says they're gravely concerned for missing daughter

    Post Falls family says they're gravely concerned for missing daughter

    Wednesday, June 28 2017 9:59 PM EDT2017-06-29 01:59:25 GMT

    POST FALLS, Idaho - "We want you back home and we want you safe,” Dave Bennett said. An emotional plea from Dave Bennett. “You've got a whole family, literally thousands of people, not just your immediate family who are in grave concern for you right now and love you so much and are so worried about you,” he said. It’ll be two weeks this Friday since Bennett last saw his daughter. 

    >>

    POST FALLS, Idaho - "We want you back home and we want you safe,” Dave Bennett said. An emotional plea from Dave Bennett. “You've got a whole family, literally thousands of people, not just your immediate family who are in grave concern for you right now and love you so much and are so worried about you,” he said. It’ll be two weeks this Friday since Bennett last saw his daughter. 

    >>
HD DOPPLER 6i
/