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there goes wamu
posted on
Sep 25, 2008 06:43PM
washington mutual just went under, with assets of $307 billion. that's about ten times the size of the indymac failure. normally they seize banks on friday nights after the market closes, but this one couldn't wait. preliminary estimates are this will cost the fdic at least $20-30 billion. no word yet on how large the executive bonuses will be.
