Washington Mutual Inc. put itself on the auction block Wednesday, looking for a buyer strong enough to absorb the huge mortgage loan and credit card losses racked up by the nation’s largest savings and loan.

The Seattle-based thrift had about $143 billion in insured deposits as of June 30, about three times the size of the insurance fund.

WaMu has seen its stock decline 95% over the last year.

-LA Times

This means thousands of people have money invested in WaMu are going to loose hard core.
We have seen this happen before with other investment companies due to the recent economic depression.

Get you money out while you can!