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…
Tag: banks
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…
Poll: Investment Bank Blowups / Financial Market Meltdown
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Who gives a RA about the banks, anyway?
I thought we could use a thread to discuss the insanity that reigns in the financial world today. You all already know the news. IndyMac taken over by the FDIC in the third-largest bank failure in US history. The bailouts of Fannie & Freddie have begun. Here’s another take on the weekend news: Now here’s…
Local Banks Slammed by Housing Bust
From today’s Everett Herald: Housing slump hits local banks hard Low interest rates, the loss of the home construction boom and investor pessimism all are weighing down on bank stocks, dealing a big blow to all three of the local banks traded on Wall Street. Lynnwood’s City Bank, along with Frontier Financial and Cascade Financial…