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Starting in August 2007, Washington Mutual was unable to resell mortgages due to the disapperance of the secondary market for mortgage backed securities. This along with the housing decline which kept Washington Mutual from selling new mortgages and therefore making money, helped speed up the downfall of the company. The final straw, so to speak, for the company was when Lehman Brothers declared bankruptcy. This made a lot of Wasington Mutual's depositors panicky, causing them to withdraw $16.7 billion from various checking and savings accounts. This caused the company to be declared as not having enough money to conduct daily business by the FDIC. Soon after being taken over by the FDIC, Washington Mutual was bought out by J.P. Morgan.
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∙ 12y ago
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Is Washington Mutual the same company as Washington Mutual?
"Washinton Mutual is not the same company as Washington Mutual. Washington Mutual is a banking company and Washinton Mutual is retail selling brand, dire stuff to know."
When was Washington Mutual created?
Washington Mutual was created in 1889.
When did Washington Mutual end?
Washington Mutual ended in 2009.
What is the population of Washington Mutual?
The population of Washington Mutual is 49,403.
Where is Washington mutual's headquarters located?
Washington Mutual's headquarters is located in Seattle, Washington. It's in downtown Seattle as is their previous headquarters, Washington Mutual Tower.
What does Washington mutual do?
Washington Mutual was a savings bank holding company in the United States. Unfortunately, in September 2008 Washington Mutual was placed into receivership.
Is Washington mutual multinational?
Yes, Washington Mutual is multinational. Washington Mutual now is named JP Morgan Chase and it is an American financial and banking institution.
How many Washington Mutual locations are there?
There are no Washington Mutual locations. The bank collapsed in 2008 and was bought out by JP Morgan Chase. Washington Mutual locations are now Chase banks.
What caused the demise of the Aztecs?
disease and Spanish conquistadors
Is Washington Mutual affiliated to Bank of America?
No. Washington Mutual is now owned by the JP Morgan Chase group. They acquired Washington Mutual in 2008-2009 during the banking crisis in United States. By end of 2009, all branches of Washington Mutual were rebranded as Chase branches.
Where is the nearest Washington Mutual branch?
The nearest Washington Mutual branch is located on 16000 Pennsylvania Rd, Virginia, United States of America. They were established by the son of George Washington.
What is the Washington mutual and is it related to Washington?
Washington Mutual was a savings bank holding company. It's main headquarters were in Seattle, Washington. WAMU(Washinton Mutual) was the United States largest savings and loans association until it crashed in 2008.
