WaMu - The Largest Bank Failure Ever
 

Seattle based Washington Mutual will go down as the largest bank failure ever recorded in the United States. :(

In the past couple of weeks customers withdrew $15 Billion in deposits fearing the bank's ability to survive the credit crisis.

It will be interesting to see how J.P. Morgan Chase integrates WaMu into their operations. My fear is that a number of WaMu employees will likely lose their job.

What a freakin' disaster. I'm not sure the average person knows how big this is. I'm not sure Congress does either. :)

I totally agree. The credit crisis that started with sub-prime real estate loans keeps spreading.

Concerning Congress, it was too painful for me to watch - how do these people get elected?

Concerning WaMu, I read that the employees at the Bank Branches have little to be concerned about since J.P. Morgan Chase does not have a physical presence in the Northwest.

By contrast, the employees at the WaMu Corporate Office in Seattle will likely face huge job losses as they're integrated into J.P. Morgan Chase. :(