BREAKING: Washington Mutual seized by feds, biggest bank failure in US history

WSJ:In what is by far the largest bank failure in U.S. history, federal regulators seized Washington Mutual Inc ... after it got caught up in the booming part of the mortgage business that made loans to people with bad credit, known as subprime borrowers. Troubles spread to other parts of WaMu's home loan portfolio [more...]

Date: 2008-09-26 02:41:42

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