September 26, 2008

Washington Mutual (WAMU) Seized

Largest Failure of a U.S. Bank

In the latest round of financial turmoil, Washington Mutual (WAMU) was closed by the Office of Thrift Supervision (OTS) and the Federal Deposit Insurance Corporation (FDIC) and its banking assets were sold to JPMorgan Chase & Co for $1.9 billion.

This is by far the largest failure of a U.S. Bank.

Click here for the FDIC question and answer section on Washington Mutual

See below for the complete story.


	WaMu is largest U.S. bank failure

	http://www.reuters.com/article/newsOne/idUSTRE48P05I20080926?sp=true

Topic Tags: credit crunch, failed bank, fdic wamu, fdic washington mutual, housing crisis, wamu, wamu seized, wamu shut down, washington mutual, washington mutual seized, washington mutual shut down

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