Originally Posted by
street_sweeper
Same time frame local bank went down and swallowed up by Chase
he Story Behind the Largest Bank Failure in History
BY KIMBERLY AMADEO Updated June 04, 2018
Washington Mutual was a conservative savings and loan bank. In 2008, it became the largest failed bank in U.S. history. By the end of 2007, WaMu had more than 43,000 employees, 2,200 branch offices in 15 states, and $188.3 billion in deposits. Its biggest customers 60 percent of its business came from retail banking and 20 percent came from credit cards. Only 14 percent were from home loans, but this was enough to destroy the rest of its business. By the end of 2008, it was bankrupt.
https://www.thebalance.com/washingto...nkrupt-3305620
Got one of WaMu's stock certificates in my collection. Them, Lehman Bros., Enron, etc. One of my faves is the Policy & Procedure manual for Enron. The cover letter is signed by the infamous Ken Lay and he talks about the importance of honesty. Really? Cmon Ken, couldn't you have written something else? Almost anything would have been better.
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