“6. A troubled banking system in the west and world continues to influence others negatively. Inflation now grows. ”
-A.C.H. from The Prophetic Light, August 20, 2008
WaMu becomes biggest bank to fail in US history
Friday September 26, 2:39 pm ET
JPMorgan Chase buying Washington Mutual’s assets for $1.9 billion after FDIC seizes bank
One positive is that the sale of WaMu’s assets to JPMorgan Chase prevents the thrift’s collapse from depleting the FDIC’s insurance fund. But that detail is likely to give only marginal solace to Americans facing tighter lending and watching their stock portfolios plunge in the wake of the nation’s most momentous financial crisis since the Great Depression.