Image from source, MSNBC
And the big banks keep on failing. I think Washington Mutual is the very definition of "too big to fail." Amazing. . .
[Excerpt]
Government seizes WaMu, sells some assets
Largest bank failure in U.S. history; JPMorgan buys $1.9B in WaMu assets
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 that JPMorgan Chase has taken over a major financial institution crippled by bad bets in the mortgage market. . .
Read more at: MSNBC
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