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Yes saw that the FDIC siezed WaMu last night. Selling off it's assets to JP Morgan Chase.

Washington Mutual is the largest to fail--EVER; 307 billion compared to IndyMac paltry $32 billion.

http://biz.yahoo.com/ap/080926/washington_mutual_future.html

Article says all investor equity wiped out, including a $7billion loan they received in spring. Glad I'm not holding that note!

With the clash over the bailout last night, I wouldn't be surprised to see the market fall drastically today.
 

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When I used to be in credit debt, WaMu purchased my credit company who I was in debt to in the amount of about $3000.00. My interest rate was about 11.9%. When WaMu took over, they raised my rate to 24.9% for no good reason. I love watching greed fail.

Good riddance WaMu.
 
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