NEW YORK — Washington Mutual says it will take another multibillion-dollar write-down for bad bets on mortgage securities but insists it has adequate capital to fund its operations amid concern about the thrift's financial stability.
The Seattle-based bank expects its provision for bad loans in the third quarter to be $4.5 billion. Of that amount, $3.4 billion is for residential mortgages. Both totals are down from the second quarter of 2008.
