Journal Article Review: Money Central Waaa Hoooo! WaMu! By: Holly Outland University of Phoenix FIN 370: Finance for Business

Waaa Hoooo! WaMu! chapiter common, used to be a bank memory association that had been in business since the late 1890?s to the trine quarter of 2008. The company is known as upper-case letter Mutual, that it non actually a mutual company. In the first 1980?s the company went public and started trade shares in the broth market. On September 25th, the 119th company anniversary, the Office of Thrift control (OTS) confiscated the company?s assets. Then the Office of Thrift surveillance turned around and gave all of the seized assets to the Federal situate indemnity tum (FDIC). (2008) This evidently happened because majuscule Mutual took a flogging callable to the current United States financial downslide. Another occasion for the presidency appropriation seems to be the understanding that 17 jillion dollars of Washington Mutual deposits that were withdrawn by its customers. (Strott, 2008)Once the Federal Deposit Insurance sess received the assests and liabilities, it then sold the Washington Mutual heap to JPMorgan Chase. Some people are give tongue to the Washington Mutual bank failure is the biggest in history. This is macrocosm utter because of the 307 zillion in assets and liabilities that are no longstanding dieing to Washington Mutual.

(Strott, 2008) The assets in question now belong to JPMorgan Chase, because the company entered the calcium light and purchased more or less of the assets for 1.9 billion. That is quite a deal, 307 billion for 1.9 billion, which sets the worth approaching out to about 166 times the value. The benefits and disadvantages to this situation are many. The most advantageous as! pect of this situation is the advert of the federal ictus has on the public. Since JPMorgan Chase bought everything from the FDIC for 1.9 billion dollars, at that place is no cost to tax payers and a federal plane slit is infused with a nice sum of... If you want to get a full essay, order it on our website: OrderCustomPaper.com

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