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Washington Mutual, Inc. (often abbreviated to WaMu) was an American savings bank holding company based in Seattle. It was the parent company of WaMu Bank , which was the largest savings and loan association in the United States until its collapse in 2008.
The Seattle-based bank holding company Washington Mutual declared bankruptcy on 26 September 2008. The 120-year-old company, one of the largest banking institutions in the US West, was driven into bankruptcy by the subprime crises.
The receivership of Washington Mutual Bank by federal regulators on September 26, 2008, was the largest bank failure in U.S. history. Regulators simultaneously brokered the sale of most of the banks's assets to JPMorgan Chase , which planned to write down the value of Washington Mutual's loans at least $31 billion.
Between 2003 and 2008, WaMu and its primary subprime lender, Long Beach Mortgage Company, dumped low-risk 30-year fixed-rate loans and loaded up on more profitable, but problem-plagued, high-risk ...
JPMorgan Chase (JPM) got a pretty sweet deal when it bought the distressed banking operations of Washington Mutual in 2008 for a flimsy $1.9 billion -- perhaps a little too sweet, according to the ...
I live in Portland, Oregon, and a lot of my friends have accounts with Washington Mutual, given its roots in the Pacific Northwest (WaMu was founded in Seattle over 100 years ago). Most of my ...
2008 $3.7 billion $5.2 billion La Jolla Bank La Jolla: California: 2010 $3.6 billion $5 billion Frontier Bank Everett: Washington: 2010 $3.5 billion $4.9 billion First National Bank of Nevada Reno: Nevada: 2008 $3.4 billion $4.8 billion Amcore Bank: Rockford: Illinois: 2010 $3.4 billion $4.8 billion Riverside National Bank of Florida Fort ...
16 March 1946. Nationality. American. Occupation. Businessman. Known for. Washington Mutual 's last weeks. Alan H. Fishman (born 16 March 1946) [ 1] is an American businessman. He was the last CEO of Washington Mutual (WaMu) [ 2] prior to federal regulators seizing its assets on September 25, 2008.