Another victim of the financial crisis. Washington Mutual just got sold to JP Morgan Chase. The Federal Deposit Insurance Corp took over the bank and sold it at an auction to JP Morgan.
It's such a clearance out there. Well, at least in the US. Other markets seem to be doing OK for now. Brits have had the closest situation to that in the US but that seems to be it. No other country announced anything similar. That is the positive side of the whole situation. The financial institutions in the US will, most probably, become much less significant in the world markets from now on.
It's such a clearance out there. Well, at least in the US. Other markets seem to be doing OK for now. Brits have had the closest situation to that in the US but that seems to be it. No other country announced anything similar. That is the positive side of the whole situation. The financial institutions in the US will, most probably, become much less significant in the world markets from now on.
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