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Archive Home > 2008 > September > 26 > WaMu is seized, sold for $1.9B

WaMu is seized, sold for $1.9B

JPMorgan Chase is buyer in largest bank failure ever in U.S.

By Marcy Gordon, Sara Lepro and Madlen Read / The Bulletin
September 26, 2008

NEW YORK — JPMorgan Chase & Co. Inc. came to the rescue of Washington Mutual Inc. Thursday, buying the thrift’s banking assets after WaMu was seized by the Federal Deposit Insurance Corp. in the largest failure ever of a U.S. bank. This is the second time in six months....

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Published daily in Bend, Oregon, by Western Communications, Inc. Copyright 2007.