And another one gone and another one gone...
After the FDIC seized all of Washington Mutuals assets, JPMorgan Chase acquires WaMu's assets for $1.9 billion. Washington Mutual is, or should I say was, the nation's largest savings and loan. The demise of WaMu is the largest failure ever of a U.S. bank.
From FDIC Chairman (err, Chairwoman) Sheila Bair: "For all depositors and other customers of Washington Mutual Bank, this is simply a combination of two banks. For bank customers, it will be a seamless transition. There will be no interruption in services, and bank customers should expect business as usual come Friday morning."
What EXACTLY is business as usual now-a-days anyway?
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