JPMorgan Chase buys WaMu assets after FDIC seizure - East Valley Tribune: Business

JPMorgan Chase buys WaMu assets after FDIC seizure

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Posted: Thursday, September 25, 2008 10:04 pm | Updated: 9:53 pm, Fri Oct 7, 2011.

NEW YORK - JPMorgan Chase & Co. Inc. came to the rescue of Washington Mutual Inc. Thursday, buying the thrift's banking assets after WaMu was seized by federal regulators 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.

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