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Text size [+][-]  Saturday November 21 2009GLOBAL EDITION

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14 Apr 2008 08:14

WaMu the killer bank



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Late Friday, Washington Mutual filed an 8-K document with the Securities and Exchange Commission detailing the specifics of its plan to raise $7bn through the sale of stock, preferred securities and warrants to an investor group led by TPG.

 

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Late Friday, the thrift slipped out the specifics of its plan to raise capital from TPG and a few privileged institutions. Among the details: nearly $2bn of freebies and fees coming at the expense of current owners – and coercive mechanics to cram the deal down their throats.

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