Washington Mutual closed by regulators

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Washington Mutual closed by regulators

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09-26-2008, 12:52 PM

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Washington Mutual closed by regulators

Washington Mutual (WaMu) has been closed making it the largest failure of a US bank. WaMu’s assets have been sold to banking giant, JPMorgan Chase, for $1.9bn (£1 billion).WaMu was closed by the Federal Office of Thrift Supervision (OTS), and the Federal Deposit Insurance Corp (FDIC) has been appointed receiver. $16.7 billion of deposits had [...]

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