Another One Bites The Dust

This one hit close to home. I had friends who worked for WaMu when they had operations here.

As the debate over a $700 billion bank bailout rages on in Washington, one of the nation's largest banks — Washington Mutual Inc. — has collapsed under the weight of its enormous bad bets on the mortgage market.

The Federal Deposit Insurance Corp. seized WaMu on Thursday

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Seattle-based WaMu, which was founded in 1889, is the largest bank to fail by far in the country's history.

What amazing sights and wonders the Republican economic model brings us.

Tags
Economics, Republicans