I am currently holding a large position in Washington Mutual and took a huge hit when WM stock price dropped like a rock. I am planning to hold it long term so I was not paying attention to the stock prices. One of the main thing that concerns me now is dividend payout. Will WaMu continue to pay 56 cents quarterly dividend? Here is an article there talks about these concerns, Dividend-Cut Anxiety Rises as Banks Wobble.
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I have been underexposed to financial stocks and have been using this opportunity to add investments. WaMu seems a little risker due to its exposure to the West Coast real estate market. I am looking at Bank of America.