2008-07-22ml-implode.com

After a mega-rally led by the financials that left the XLF up 8.4%, WAMU drops the bomb: WAMU 2Q Non-GAAP EPS ($3.34) vs ($1.05); Q2 Non-Performing Assets 3.62% as of 6/30; Q2 Interest Income $2.3 bb vs $2.03 bb (perhaps due to negative amortization phantom income); Q2 Loan Loss Provisions at $5.91 bb vs $3.51 bb...

(Yes, the stock is up after-hours...)


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