Wall Street entered into another round of speed dating, with bankers representing Morgan Stanley and Washington Mutual scrambling to put together deals in the biggest realignment of the financial industry since the 1930s.
Ailing bank Washington Mutual Inc. appeared headed toward a sale Wednesday after a major investor removed a potential stumbling block and nervous banking regulators began approaching the most logical buyers.
Large second-quarter losses at Wachovia Corp. and Washington Mutual Inc. have revived concerns that the financial sector still has a long way to go before it recovers from the year-old credit crisis.
July 23, 2008
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