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Well this has been rumored for some days now and it has now been completed. With their deposits 3 times the FDIC’s balance sheet, this was something that was going to happen.
JPMorgan Chase will acquire the deposits of Washington Mutual, CNBC has learned. The deal is expected to be announced during a Thursday night conference call at 9:15 p.m. ET( or via live audio webcast at www.jpmorganchase.com). This deal will mark the end of independence for what once was the largest U.S. thrift.
This was totally expected. I'm just wondering why they didn't take on their loan portfolio . Just kidding - we all know why... Really bad loans, they did a ton of really bad loans.
Hey guys - this is where your bailout money is going to go; not BofA.
Yep, FDIC has seized WaMu... it is over for this bank. I think this was a good move on the FDIC's part to proactively do this rather than allow the situation to collapse!
FDIC to Seize WaMu and Sell Deposits to JPMorgan - Financials * US * News * Story - CNBC.com (http://www.cnbc.com/id/26893741 - broken link)
JPMorgan Chase bought out WaMu tonight. JP is stable, for now, don't panic. Everyone's money in WaMu is still there. There's another thread concerning this.
What do customers of the former WaMu be expecting from their new owner? How is it different, for better or for worse, from WaMu? (p.s. My only experience is them is with Chase's United Mileage program.)
What do customers of the former WaMu be expecting from their new owner? How is it different, for better or for worse, from WaMu? (p.s. My only experience is them is with Chase's United Mileage program.)
JPMorgan Chase just switched to commercial banking, to stabilize themselves. JPMC is one of the few giant investment banks that survived last week, if that tells ya anything. I have a 401k with them, I'm letting it ride through this mess, and it's still stable.
I am very pleased to hear this news. There is a new WAMU branch that is opening soon in my area. I am going to be a Chase Customer!~
~ Whoo Hoo
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. Just kidding - we all know why... Really bad loans, they did a ton of really bad loans. 
BREAKING NEWS: FDIC seizes WaMu after JPMorgan bails them out?
