WaMu Blames SEC For Its Problems

Author:
Publish date:

After research firm Gimme Credit screamed "fire" in Washington Mutual's lobby yesterday, the bank put out statement saying that WaMu "funds all of its business through its banking operations, and does not rely on commercial paper," and, furthermore, has seen "no real disruption in...core liquidity." Everything is a-okay, so please stop publishing reports to the contrary.
But...if you want to talk about problems that in no way can be blamed on WM, how 'bout those bastards at the SEC? According to WaMu, the new short selling provisions, which focus on 17 banks-- WM not included--, are to blame for pressure on its shares. Treasurer Robert Williams told the Post: "[The SEC] limited the universe of options that you could use to hedge your position...[and as a result]...WaMu has seen short selling volumes double and triple."
WaMu Whacked [NYP]

Related