New rules could affect WaMu sale

Washington Mutual Inc Chief Executive Officer Alan Fishman, who sold the last bank he ran, may not be able to repeat the feat because new accounting rules for devalued loans are driving away buyers.

At least three potential acquirers ended talks this year to buy either Seattle-based WaMu or Cleveland's National City Corp, according to two bankers that are involved in the talks.

A sticking point, they say: A rule change that will force acquirers to compute a target's assets at market prices instead of deriving values from measures including the purchase price.