WaMu Rescue Comes as $7Billion in Capital Infusion

The largest U.S. savings and loan, Washington Mutual, stated that will receive a $7 billion capital injection from private equity firm TPG and other investors, about $2 billion more than previously reported.  
 
The company also said it expects to report a first-quarter loss of $1.1 billion, or $1.40 per share. Additionally, it expects to set aside $3.5 billion in the quarter for loan losses and said net charge-offs, or loans it doesn't expect to be paid back, will total $1.4 billion.

Published on April 8, 2008