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Entries tagged "WaMu"GM bankruptcy by the numbersAlthough GM is a massive company spanning the globe, its bankruptcy is not the largest filing in U.S. history. WaMu zombie lawsuit ruling set for JuneZombie bank holding company Washington Mutual could know the outcome of its lawsuit against J.P. Morgan Chase by June. Judge quashes WaMu lawsuitA federal judge on Monday halted a consumer class-action fraud lawsuit against Washington Mutual Inc., deferring all claims against the failed company to the FDIC. Why Lewis, and not Dimon for Banker of the Year?Trade publication American Banker has announced its Banker of the Year, and on Dec. 4 Bank of America Corp. CEO Ken Lewis (pictured) will formally accept the honor (for the second time) at an awards gala at the Plaza Hotel. Might this cause some folks to roll their eyes? Likely since, after all, Lewis was the same guy who had the audacity to appear on "60 Minutes" last week and tell Leslie Stahl it was his patriotic duty to take an investment from Treasury Department. Since one of American Banker's reasons for choosing Lewis, who first won the award... Financial crisis prompts worries at FBIAnyone looking forward to high-profile "perp-walks" as a result of fraud in the wake of the current financial crisis better consider another form of entertainment because the Federal Bureau of Investigation, the agency taking the lead in the investigations of potential fraud at failed banks, reportedly is finding that its own resources and finances are lacking. ... Here come the investigationsAs the public demands answers about the financial turmoil facing the nation, it was inevitable that law enforcement and prosecutors would head the calls. Kicking off the investigation season is a federal task force, which is charged with finding out if the leadership of shuttered bank Washington Mutual Inc. broke federal laws in the run-up to its collapse, the largest in U.S. history. ... Rewarding Wall Street's failuresBank CEOs have been under fire lately for the mortgage mess they helped fuel, and now they're receiving heat for the golden parachutes some of them have received on their way out the door. The brouhaha over executive exit packages has escalated so much so recently that politicians are calling for the proposed U.S. bailout to limit the exit compensation of CEOs of banks that choose to participate in the plan. ... Seizing banks isn't always such a bad jobFriday was a grim day for Washington Mutual Inc. shareholders, bondholders and employees, as they woke up to find the thrift had been seized and sold to J.P. Morgan Chase & Co. No more WaMu. It turns out, however, that there is some levity in the bank seizure business, to judge by a collection of war stories on the Federal Deposit Insurance Corp.'s Web site. ... Fleeing WaMu depositors forced regulators' handsAlthough banking regulators have been circling Washington Mutual Inc. for weeks, the Office of Thrift Supervision's decision to close the country's largest thrift Thursday night caught many banking industry experts by surprise. Typically, regulators seize troubled institutions on Friday evenings, after the close of business. After the closed institution is turned over to a new owner or put into government receivership, it reopens Monday. The usual process allows the buyers and government examiners to double-check the books over the weekend and prevent panic among depositors by reassuring them that their money is safe and will be available when the... J.P. Morgan buys Washington Mutual assets from FDIC for $1.9BJ.P. Morgan Chase & Co. announced late Thursday an agreement to purchase many of the assets of Washington Mutual Inc. bringing to an end the troubled bank's auction. The Federal Deposit Insurance Corp. apparently took control of the bank's holding company at the request of the Office of Thrift Supervision, and brokered a deal to sell branches and deposits to J.P. Morgan for $1.9 billion. The deal closed immediately, and J.P. Morgan is now the owner of Washington Mutual's branches, deposits and other assets.... Is WaMu next?Are the Feds laying the groundwork for yet another bank takeover? Citing sources, the New York Post reported Wednesday that U.S. federal regulators have reached out to a number of banks gauging whether they would consider buying Washington Mutual Inc. if it should falter. ... Bank Watch: Wall Street is seeing redAfter an hour of trading, Wall Street is seeing red. Naturally, Lehman Brothers Holdings Inc. is down following its bankruptcy filing, the largest Chapter 11 filing in history. Another big loser is American International Group Inc.'s stock following reports that the company is going to restructure. Washington Mutual Inc. is also down based on market uncertainty. One of the bright spots is Merrill Lynch & Co., which is up due to its announcement that it is being acquired by Bank of America Corp. - Maria Woehr Troubled Wall Street Prices at 10:30 am EDT Name Price at open Price at... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "WaMu." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
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