Is WaMu hiding its real value
WaMu’s bankruptcy plan (i.e. the former banks holding company) has been stalled for a while but now there is another reason, claims that the holding company is not fairly disclosing the value of its assets, meaning, it is actually worth more than they are saying. Is someone trying to pull a fast one on shareholders? It is clear that under the current plan, Chase would have benefited, perhaps undeservedly.
Luckily, shareholders have won the right to pursue an annual meeting, where they can try to force out the current board and replace it with one that might be more favorable to them.
WaMu failure | admin May 3, 2010
