Black Money Business Jobs : US regulator shuts Washington Mutual - WaMu

[Destee]

US regulator shuts Washington Mutual - WaMu

Friday September 26 2008 07:44 BST

Washington Mutual was closed by the US government in by far the largest failure of an American bank, and its banking assets were sold to JPMorgan Chase for $1.9bn (£1bn).

The rescue marks a historic step to clean up a US financial system littered with toxic mortgage debt.

Washington Mutual, the largest US savings and loan, was closed by the federal Office of Thrift Supervision (OTS), and the Federal Deposit Insurance Corp (FDIC) was named receiver. Customers should expect business as usual on Friday, the FDIC said.

The bailout came after the thrift suffered deposit outflows of $16.7bn since September 15, the OTS said. "With insufficient liquidity to meet its obligations, WaMu was in an unsafe and unsound condition to transact business."

Click Here To Read Entire Article



Destee

 

[Clyde C Coger Jr]

In the Spirit of Sankofa!

US regulator shuts Washington Mutual - WaMu

Friday September 26 2008 07:44 BST

Washington Mutual was closed by the US government in by far the largest failure of an American bank, and its banking assets were sold to JPMorgan Chase for $1.9bn (£1bn).

The rescue marks a historic step to clean up a US financial system littered with toxic mortgage debt.

Washington Mutual, the largest US savings and loan, was closed by the federal Office of Thrift Supervision (OTS), and the Federal Deposit Insurance Corp (FDIC) was named receiver. Customers should expect business as usual on Friday, the FDIC said.

The bailout came after the thrift suffered deposit outflows of $16.7bn since September 15, the OTS said. "With insufficient liquidity to meet its obligations, WaMu was in an unsafe and unsound condition to transact business."

Click Here To Read Entire Article



Destee

Destee,

On fire again, you are all over this thing, and I am glad to be here, along with everyone else. Thanks-

 

[info-moetry]

No nation's central bank is more powerful today than the US Federal Reserve, but it wasn't always that way, and it now has competition for the top spot it hasn't known since WW II. The Fed, as it's called, has existed since it was first established by an act of Congress in 1913. But the Bank of England has been around since Britannia ruled the waves beginning in 1694 when King William III needed help funding the kind of escapade that takes lots of ready cash - war. Back then it was with France, and the king needed a friendly banker to print it up for him to help him fight it. He also needed financial help to facilitate trade and manage the country's debt that always mounts up when wars are fought. The Bank of England wasn't the first central bank, but it was the modern world's first privately owned one in a powerful country. It was called the Bank of England to keep the public from knowing that it, like our Federal Reserve, was and still is privately owned and not part of the government. It was also the model used in the formation of our own central bank and most others.

http://www.populistamerica.com/how_the_federal_reserve_runs_the_us

"bailout" is just the media's nice way of saying Hostile Takeover......

This country has purposely been bankrupted and the financial institutions are being taken over by children of those who put the plan in motion (such as JPMORGAN) for dirt prices..........

 

[Kemetstry]

US regulator shuts Washington Mutual - WaMu

Friday September 26 2008 07:44 BST

Washington Mutual was closed by the US government in by far the largest failure of an American bank, and its banking assets were sold to JPMorgan Chase for $1.9bn (£1bn).

The rescue marks a historic step to clean up a US financial system littered with toxic mortgage debt.

Washington Mutual, the largest US savings and loan, was closed by the federal Office of Thrift Supervision (OTS), and the Federal Deposit Insurance Corp (FDIC) was named receiver. Customers should expect business as usual on Friday, the FDIC said.

The bailout came after the thrift suffered deposit outflows of $16.7bn since September 15, the OTS said. "With insufficient liquidity to meet its obligations, WaMu was in an unsafe and unsound condition to transact business."

Click Here To Read Entire Article



Destee

The conspiracy theorist are now putting out that this all is being done deliberately. It seems the plan is to change currency. Just like the Euro, we will soon have the Amero. It will be the currency for this hemisphere

 

[Knowledge Seed]

The conspiracy theorist are now putting out that this all is being done deliberately. It seems the plan is to change currency. Just like the Euro, we will soon have the Amero. It will be the currency for this hemisphere

Well if they don't replace the currency, I don't see how we are going to get out of this economic crisis.