Washington Mutual, the nation’s largest savings and loan collapses

A http://writefree. Production Washington Mutual, the nation’s largest savings and loan, agreed Thursday to sell assets and some branches to JPMorgan Chase in a government-brokered deal to rescue the troubled bank, according to people briefed on the deal. The deal is expected to be discussed at 9:15 p.m. on a conference call for investors held by JPMorgan.

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Washington Mutual seen near $5 bln TPG deal | Deals | Reuters
NEW YORK (Reuters) - Washington Mutual Inc , the largest U.S. savings and loan, is close ... and credit losses tied to the nation's ... Iranian rocket launch; Dam collapses near ...
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FT.com / Companies / Financial services - Washington Mutual presents ...
... such as Washington Mutual, could have systemic consequences if it undermines confidence in other weak lenders. WaMu, the largest savings and loans ... of the nation's ... Informa collapses
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Mortgage Ledger - Mortgage News and Financial Resources
... collapses dramatically lowering the number of major players in the mortgage industry, reports indicate that Washington Mutual ... Washington Mutual ousted former CEO Kerry Killinger as the nation's largest savings and loan ...
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Business Enterprises - Courant.com
CEO ousted at Washington Mutual, country's biggest savings and loan. ... major step to wind down the nation's fourth-largest ... Employees cope after firm collapses ...
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Savings and Loan Associations News - The New York Times - Narrowed by ...
... country's largest savings and loan institution; combination would give Washington Mutual $87 ... company for nation's largest savings and loan ... widespread collapses in the savings ...
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FDIC May Need $150 Billion Bailout as Local Bank Failures Mount
... March, an internal FDIC memo estimated the cost to cover bank collapses ... loophole Congress failed to close even after the savings and loan debacle of ... mid-September, investors were signaling that Seattle- based Washington Mutual, the nation's largest ...
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Source: Bloomberg
NewsDateTime: 8 hours ago

Toddlin' Tuesday
What happens if "everything" collapses? Guess ... through a Treasury Department loan if Washington Mutual Inc., the nation's largest thrift ... based IndyMac Bank, by far the largest shut down by regulators. Additional failures of large banks or savings and ...
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Source: Arkansas Times
NewsDateTime: 9/17/2008

Ellsberg Calls for Actions to Prevent War with Iran
The old Jimmy Stuart "Bailey Savings & Loan" has long since been replaced with a system ... Give me control of a nation's money and I care not who makes it's laws." - Mayer ... Foreigners, especially our largest trading partners, have figured this out ...
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Source: Common Dreams
NewsDateTime: 8/28/2008

US stocks plummet amid credit crisis
Fannie and Freddie own or guarantee about $5-trillion of the nation's ... The California mortgage lender IndyMac collapses. Troubles for US ... the insurance giant American International Group (AIG), and Washington Mutual, the largest US savings and loan ...
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Source: Mail & Guardian Online
NewsDateTime: 9/15/2008


Federal regulators helped arrange the purchase for Washington Mutual after a weeklong sales process led by the investment bank Goldman Sachs among several big banks and private equity firms failed to reel in an interested bidder. Several bidders attracted by WaMu’s vast deposit base had emerged, including Citigroup and Wells Fargo. So did several foreign buyers, including Banco Santander of Spain, HSBC of Britain, and TD Dominion of Canada. But they worried that deepening losses, which could reach an estimated $30 billion, would make it difficult for them to absorb the troubled bank. To make matters worse, a $700 billion emergency bailout package for the financial system that was subject to Congressional wrangling caused some prospective buyers to stop in their tracks while the situation was in flux.

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