This website requires the use of Javascript to function correctly. Performance and usage will suffer if it remains disabled.
WaMu: Largest Bank Collapse in U.S. History

Real Truth logo

World News Desk

WaMu: Largest Bank Collapse in U.S. History

Learn the why behind the headlines.

Subscribe to the Real Truth for FREE news and analysis.

Subscribe Now

In a recent deal, JP Morgan and Chase purchased fellow banking giant Washington Mutual (WaMu). WaMu’s collapse is the largest bank failure in U.S. history. Federal regulators seized the Seattle-based bank after the struggling savings and loan had its bond rating reduced to junk status by Standard and Poor’s. WaMu, highly vested in the housing market, was severely hurt in the recent drop in housing market values and saw near-fatal drops in the value of its stock.

JP Morgan and Chase will acquire over $500 million worth of assets and deposits from the purchase and stands to increase its number of branches to nearly 5,400 across the country. This will be Chase’s second large-scale acquisition this year after earlier purchasing the struggling investment bank Bear-Stearns.

FREE Email Subscription (sent weekly)

Contact Information This information is required.

Comments or Questions? – Receive a Personal Response! Field below is optional.


Your privacy is important to us. The email address above will be used for correspondence and free offers from The Restored Church of God. We will not sell, rent or give your personal information to any outside company or organization.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Latest News

View All Articles View All World News Desk