Peek-a-Boo I See WaMu JPMorgan Chase
A little early for dressing up to trick or treat but nonetheless, it’s Washington Mutual Bank spooking customers with frightful news of their financial troubles. But, have no fear WaMu bank account holders as JPMorgan Chase is now here with a receipt for $1.9 billion and a bag full of WaMu’s assets, deposits and branches. Said to be the largest US bank failure to date, Washington Mutual Bank, caught in the midst of our current housing/credit catastrophe, was forced to end its 119 years as an independent bank today, Thursday September 25, 2008. Banking business is expected to carry on as usual starting tomorrow, Friday September 26, 2008, with JPMorgan Chase now behind the WaMu name.
*Call the FDIC (877-275-3342) if you are truly concerned but, apparently, just as long as you didn’t/don’t have more than $100K with WaMu, you are all good…. whooo-hooo!
From the News Sources:
CNBC
Los Angeles Times
Seattle Times
Forbes
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