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It was announced that they were already purchased from debt. With assets over 300 billion, yes you can infact have crazy amounts of money and be broke, the BBC reported. I caught it as I was running out the door, so I am not sure who.
I am betting WaMu will get parted out. For the amount of assets they have, their stuff is spread out all over the place. Broken into regional chunks it would be a good deal for anyone looking to take over a piece of a particular regional market.
The news said that the buy out was based on teh stock value, which is in teh ****ter, so it may have been picked up for as low as 10% of the break up value. That is insane. Someone rich is about to get way the **** richer.
-Tim
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