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Thursday, September 18, 2008

Troubled Mortgage Company Up For Auction

Thu Sept 18, 2008
Washington Mutual, the nation's largest thrift, has put itself up for sale, the New York Times reported on Wednesday Sept 17, 2008. Goldman Sachs, which was been hired to advise the troubled mortgage company, started the auction several days ago. Potential buyers include Citigroup, HSBC, JP Morgan Chase and wells Fargo, said the New York Times. Washington Mutual’ s shares fell 13% to $2.01. The stock rallied 11% to $2.23 during after-hours action.

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