Washington Mutual's 3rd-Quarter Profit Shrinks 72 Percent on Bad Mortgage Debt (Canadian Business)

Story date: 2007-10-17 02:27:44
Added on: 2007-10-17 16:16:49

SEATTLE (AP) - Washington Mutual Inc. said Wednesday its profit shrank 72 percent in the third quarter, as sagging home prices made it harder for borrowers to pay their bills and hurt the value of the bank's portfolio of mortgage loans.


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