The government just seized Washington Mutual and allowed JP Morgan Chase to buy its deposits? The Greatest Depression, people.
The U.S. government closed Seattle-based Washington Mutual amid customer withdrawals of $16.7 billion since Sept. 15, the Office of Thrift Supervision said in a statement. WaMu had "insufficient liquidity'' and was in an "unsound'' condition, the OTS said.
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Thursday, September 25, 2008
W(aMu)TF????
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