SEATTLE (AP) -- Washington Mutual Inc. secured $7 billion in new capital Tuesday, an injection that is aimed at reviving the company despite ballooning loan losses but which may also push it to rethink its strategy, slim down and revamp the management.

The country's largest savings and loan has been badly hurt by rising delinquencies and defaults on mortgages, and efforts last year to rehabilitate its finances fell short despite assurances from management that slashing its dividend, raising nearly $3 billion in a stock sale and leaving the subprime mortgage business would be sufficient.

Washington Mutual said it would get the new capital from an investment group led by private equity group TPG, but will cut its dividend again and post both a wider loss and set aside more in loan loss provisions for the first quarter than had been expected. TPG founding partner David Bonderman, a former WaMu director, will also rejoin the board.

Separately, the thrift said it will get out of the wholesale lending business, close all remaining standalone home loan centers and lay off about 3,000 workers.

"I think it's enough capital to get them all the way through," said D.A. Davidson & Co. analyst Jim Bradshaw, who said he expects the company to increase the amount it sets aside for delinquencies and

Payment strategies, last-minute tax shelter, and more

Are you a procrastinator? If you live in Chicago, New York or Houston, chances are you'll be among the millions who file a tax return in the few days before April 15, according to TurboTax's annual ranking of the top 10 procrastinating cities in the U.S. Los Angeles didn't quite make it, coming in at No. 12.

Since you're making a concerted effort not to be one of the last to file, let's see what you can do to make your tax experience a bit easier this month.

Give Up and Move On

You're having a hard time getting all the information you need. Partnerships and pass-through entities which have your money are late sending K-1s to you. Forms 1099 you received were wrong or you're still missing some. Same with some straggling W-2s.

Chill out, and file an extension. Use Form 4868 to get an automatic six-month extension to file your tax return.

Use Form 7004 to get an automatic six-month extension to file your partnership (Form 1065), gift tax