And the winner is......
Sep. 25th, 2008 06:58 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
patgundLooks like I'll be banking at JP Morgan Chase.....
JPMorgan Chase to buy bulk of WaMu
"JPMorgan Chase & Co. Inc. acquired the assets of Washington Mutual Inc.'s banking operations Thursday after federal regulators seized the ailing thrift.
The deal will cost JPMorgan Chase $1.9 billion. The Federal Deposit Insurance Corp., which insures bank deposits, said it would not have to dip into the insurance fund as a result of the seizure.
The Seattle-based thrift has roughly $310 billion in assets and was searching for a lifeline after piling up billions of dollars in losses due to failed mortgages.
The federal Office of Thrift Supervision said in a statement Thursday night that the purchase "will have no impact on the bank's depositors or other customers. Business will proceed uninterrupted and bank branches will open on Friday morning as usual."
At least it's not HSBC........
JPMorgan Chase to buy bulk of WaMu
"JPMorgan Chase & Co. Inc. acquired the assets of Washington Mutual Inc.'s banking operations Thursday after federal regulators seized the ailing thrift.
The deal will cost JPMorgan Chase $1.9 billion. The Federal Deposit Insurance Corp., which insures bank deposits, said it would not have to dip into the insurance fund as a result of the seizure.
The Seattle-based thrift has roughly $310 billion in assets and was searching for a lifeline after piling up billions of dollars in losses due to failed mortgages.
The federal Office of Thrift Supervision said in a statement Thursday night that the purchase "will have no impact on the bank's depositors or other customers. Business will proceed uninterrupted and bank branches will open on Friday morning as usual."
At least it's not HSBC........
