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$327.9 billion
- According to WaMu's 2007 SEC filing, the holding company held assets valued at $327.9 billion (~$464 billion in 2023).
en.wikipedia.org/wiki/Washington_Mutual
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Washington Mutual, Inc. (often abbreviated to WaMu) was an American savings bank holding company based in Seattle. It was the parent company of Washington Mutual Bank , which was the largest savings and loan association in the United States until its collapse in 2008.
- Why Did Wamu Fail?
- Who Took Over Washington Mutual?
- Who Suffered The Losses?
Washington Mutual failed for five reasons. First, it did a lot of business in California. The housing market there did worse than in other parts of the country. In 2006, home values across the country started falling. That's after reaching a peak of almost 14% year-over-yeargrowth in 2004. By December 2007, the national average home value was down ...
On Sept. 25, 2008, the FDIC took over the bank and sold it to JPMorgan Chase for $1.9 billion. The next day, Washington Mutual Inc., the bank's holding company, declared bankruptcy.It was the second-largest bankruptcy in history, after Lehman Brothers. On the surface, it seems that JPMorgan Chase got a good deal. It only paid $1.9 billion for about...
Bondholders, shareholders, and bank investors paid the most significant losses. Bondholders lost roughly $30 billion in their investments in WaMu. Most shareholders lost all but 5 cents per share. Others lost everything. For example, TPG Capital lost its entire $1.35 billion investment. The WaMu holding company sued JPMorgan Chase for access to $4 ...
- Kimberly Amadeo
Aug 17, 2023 · While executives said the company remained solvent, they began to seek bidders; when none emerged, WaMu’s depositors sparked a bank run, demanding $16.7 billion of their money back between...
After depositors withdrew more than $16 billion in less than two weeks, Washington Mutual Bank has been acquired by JPMorgan, federal regulators confirmed late Thursday.
Sep 26, 2008 · At Thursday’s price, WaMu’s market value had fallen to about $2.9bn – or about 15 per cent of its tangible book equity of $18.8bn – as of the second quarter of 2008. The WaMu sale comes at a...
Aug 19, 2016 · (Reuters) - JPMorgan Chase & Co (JPM.N) on Friday said it will receive $645 million in a settlement of litigation with the Federal Deposit Insurance Corp and Deutsche Bank AG (DBKGn.DE) arising...
Sep 26, 2008 · Regulators simultaneously brokered an emergency sale of virtually all of Washington Mutual, the nation’s largest savings and loan, to JPMorgan Chase for $1.9 billion, averting another...
