More on the WaMu Failure

213403 Resource 133538 120646 120646 1222439997371 1222439997371 Controlled Washington Mutual Fails

Biggest bank failure in history

In the biggest bank failure in history, Washington Mutual has ceased to exist as a separate entity. The venerable savings and loan was taken over by the FDIC on Thursday night, and then promptly sold to JP Morgan. The move, however, came at no cost to taxpayers, since FDIC insurance payouts to depositors and other account holders will not have to be made. <a href="http://www.nationalmortgagenews.com/premium/archive/?ts=1222444800" target="_blank" title="mortgage news, bank failure, Washington Mutual, FDIC, spread bets individual equities, spread betting stock market, Sheila Bair" style="font-family: verdana,arial,helvetica,sans-serif;">National Mortgage News reports on Washington Mutual</a>: <div style="margin-left: 40px; font-family: verdana,arial,helvetica,sans-serif;">"WaMu's balance sheet and the payment paid by JPMorgan Chase allowed a transaction in which neither the uninsured depositors nor the insurance fund absorbed any losses," said FDIC chairwoman Sheila Bair. </div> 9 application/xml false bank failure FDIC mortgage news Sheila Bair spread bets individual equities spread betting stock market Washington Mutual More on the WaMu Failure What the WaMu failure means http://cashmoneylife.com/2008/09/26/washington-mutual-wamu-crashes-biggest-bank-failure-in-us-history/ Spread Bets on Individual Equities Spread betting on the stock market http://www.gftuk.com/land/index.asp?aid=53 Mozilla/5.0 (Macintosh; U; Intel Mac OS X 10.5; en-US; rv:1.9.0.2) Gecko/2008091618 Firefox/3.0.2 127.0.0.1 127.0.0.1 mmarquit 66.182.71.19 false true false false true 133538 blog blogsite/GFTUK/web