Thursday, September 25, 2008

WaMu Fails, Is Sold Off to J.P. Morgan

Biggest Banking Collapse in U.S. History; Government Arranges a Deal to Safeguard Huge Thrift's Deposits, Branches.In what is by far the largest bank failure in U.S. history, federal regulators seized Washington Mutual Inc. and struck a deal to sell the bulk of its operations to J.P. Morgan Chase & Co.

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