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Oct 12, 2021 · Learn how WaMu, a conservative savings and loan bank, failed in 2008 due to subprime mortgages, housing market collapse, and deposit run. Find out who took over the bank, who suffered the losses, and how the bankruptcy affected the financial crisis.
- Kimberly Amadeo
Regarding total assets under management, WaMu's closure and receivership is the largest bank failure in American financial history. [6] [7] Before the receivership action, it was the sixth-largest bank in the United States. [18] . According to WaMu's 2007 SEC filing, the holding company held assets valued at $327.9 billion (~$464 billion in 2023).
Jun 20, 2012 · How Washington Mutual, the largest savings and loan bank, collapsed in 2008 and was taken over by JPMorgan Chase for $1.9 billion. The author of "The Lost Bank" reveals the inside story of WaMu's downfall and its lack of political influence.
Aug 17, 2023 · Why did Washington Mutual fail? Subprime mortgages were at the heart of the financial crisis of 2007–2008. This new mortgage category, introduced in the early 2000s, made it possible for...
Apr 12, 2010 · It's a quest that led employees to engage fraud, and ultimately led to WaMu's failure in September of 2008, a Senate subcommittee alleges. Along the way, the thrift infected the secondary...
Jun 11, 2012 · More than 18 months after the largest bank failure in U.S. history, regulators of the collapsed Washington Mutual Inc. faced a day of reckoning Friday, with a key lawmaker accusing them of gross incompetence.
Sep 26, 2008 · In what is by far the largest bank failure in U.S. history, federal regulators seized Washington Mutual Inc. and struck a deal to sell the bulk of its operations to J.P. Morgan Chase & Co.
