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US sees its biggest ever bank-bust
Saturday, September 27, 2008 www.mumbaimirror.com
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Business
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Washington/New York: As the debate over a $700-billion bank bailout rages on in Washington, one of United States’ largest banks - Washington Mutual Inc - has collapsed under the weight of its enormous bad bets on the mortgage market.
The Federal Deposit Insurance Corporation (FDIC) seized WaMu, as it’s more popularly known, on Thursday and then sold them for $1.9 billion to JPMorgan Chase & Co -
Tags :
Washington
New-York
JPMorgan
FDIC
US
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