WaMu posts $3.3bn Q2 loss

On July 22, Washington Mutual reported a second-quarter net loss of $3.3 billion, more than triple what analysts had been expecting. WaMu set aside $5.91 billion for loan losses and had write downs of $2.17 billion. After the release, Moody's stated that it might downgrade WaMu's debt to "junk" status.

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