WaMu Downgraded To Even Junkier Junk, Still Looking For A Life Preserver

The Wall Street Journal is reporting that WaMu is courting several private equity firms about a potential takeover after their debt was downgraded even further into junk status by Standard & Poor’s. Once merely “junk,” WaMu is apparently, “so junky we are not even kidding around about it anymore.”

The New York Times, on the other hand, says that Citigroup, JPMorgan Chase, HSBC, Banco Santander (of Spain), and Wells Fargo are also interested in picking WaMu’s bones clean.

It is generally accepted that the prognosis is not good.

WaMu steps up talks to find savior [CNNMoney] (Photo: James Callan )