How many people here bank at Washington Mutual?
JPMorgan Chase buys Washington Mutual
The nation's largest thrift is seized by federal regulators and immediately sold.
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Washington Mutual Bank, the country's largest savings and loan, was seized late today by federal regulators and immediately sold to JPMorgan Chase & Co., the New York banking giant that has long coveted the thrift's California and Florida branches.
With assets of $307 billion and deposits of $188 billion, Washington Mutual is the largest bank to fail in U.S. history.
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As news of the bank's deteriorating condition spread, nervous Washington Mutual depositors withdrew $16.5 billion of their money in the last 10 days, prompting the seizure by regulators.
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