WaMu collapse; largest Savings and loan collapse in history

Don’t say I didn’t tell you several days ago that this was gonna happen to Washington Mutual. The good news however, is that depositors have nothing to worry about, as JP Morgan Chase makes its second large acquisition of the year after swallowing up the huge investment firm Bear Stearns back in March. This is now the second large failure of an Savings and Loan company in the past few months after IndyMac was shut down and seized by the US government in July. These huge collapses are eerily remniscent of the savings and loan crisis that began in the early eighties. Stay tuned for a failure near you.

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