Saturday, August 11, 2007
Now subprime is on the house street – a US Bank warns it may not have enough cash
US bank Washington Mutual warned that the subprime mortgage sector crisis is threatening its operations, in a document filed late Thursday with the SEC. Due to the conditions roiling the subprime sector, "the company's liquidity may be affected by an inability to access the capital markets or by unforeseen demands on cash. "This situation may arise due to circumstances beyond the company's control, such as a general market disruption," the bank said.