From today’s Seattle Times: Feds seize WaMu in nation’s largest bank failure WaMu’s 43,200 employees won’t feel any immediate impact, though it’s likely JPMorgan will drastically shrink the thrift’s headquarters staff. More than 3,500 people work at WaMu’s 42-story headquarters at Second Avenue and Union Street, along with 800 people elsewhere in Seattle and 1,500…
Category: News
News, current events, etc.
WaMu: …and, there it goes.
Bloomberg: JPMorgan Buys WaMu’s Deposits as Thrift Is Seized JPMorgan Chase & Co., the third- biggest U.S. bank by assets, agreed to pay $1.9 billion for the deposits of Washington Mutual Inc. after the thrift was seized by regulators in the biggest bank failure in U.S. history. The U.S. government closed Seattle-based Washington Mutual amid…
Latest Dangerous Bailout Possibly Stoppable
Here’s an update on the latest ridiculous, expensive, and dangerous bailout that’s been floating around D.C. the past week. Here’s a decent breakdown of what exactly this bailout entails. First up, it is beginning to appear that this particular bailout may not actually be shoved through by the yes-men in congress. While the Democratic leaders…
Quadrant Homes Cuts 20% of Workforce
From the P-I: Quadrant Homes lays off 45 workers Quadrant Homes, the Puget Sound area’s largest home builder, announced Thursday that it is cutting its work force by 20 percent in response to the slowdown of new home sales in the area. The company will lay off 45 associates from its Bellevue headquarters and field…
WaMu Nearing the End?
WaMu is still making headlines, and in this case I don’t think any press is good press… New York Times: Washington Mutual Is Said to Consider Sale Seattle Times: WaMu scrambles to stay alive; it may be trying to find buyer From the Seattle Times article: With the wreckage from the nation’s worst financial crisis…