Wall Street Manna

An irreverent look at Wall Street

Monday, December 10, 2007

WaMu cuts divided; raise $2.5 billion

Bottomline: WaMu will add about $3.7 billion of equity to company, and right itself going forward. Like clockwork, the lemmings are selling on the news, and you can pick up the stock under 19 in the after-hours!! FRE, FNM and C all bottomed on the capital raising news.

It's the same here. Take the free money!!