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5. As an analyst in March 2008 (and trying to avoid hindsight), evaluate the quality of WaMu's loans and the adequacy of WaMu's loan loss

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5. As an analyst in March 2008 (and trying to avoid hindsight), evaluate the quality of WaMu's loans and the adequacy of WaMu's loan loss estimates relative to comparable institutions-see Exhibit 8. Describe the potential consequences of underestimating the magnitude of future loan losses on WaMu's balance sheet and income statement

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