The Mudcat Café TM
Thread #114742   Message #2450499
Posted By: Alice
25-Sep-08 - 10:25 PM
Thread Name: BS: Washington Mutual fails, too
Subject: BS: Washington Mutual fails, too
Regulators simultaneously brokered an emergency sale of virtually all of Washington Mutual to J.P. Morgan Chase. The remainder of WaMu, the nation's largest savings and loan, will be operated by the government. Shareholders and some bondholders will be wiped out. WaMu depositors are guaranteed by the Federal Deposit Insurance Corp. up to the $100,000 per account limit. WaMu seized, then sold so it doesn't fail