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The judge presiding over Washington Mutual Inc.'s bankruptcy protection case declined to issue an immediate ruling Thursday on the company's request that JPMorgan Chase & Co. be ordered to turn over some $4 billion in disputed assets.
An attempt by former Washington Mutual Inc. employees to recoup their retirement account losses from JPMorgan Chase & Co., part of a complex tangle of litigation stemming from WaMu's collapse last year, has been dismissed.
Lawyers for JPMorgan Chase & Co. and for Washington Mutual Inc. fund managers, directors and a former chief executive asked a federal judge Thursday to dismiss a lawsuit by WaMu employees whose retirement accounts have vaporized.
JPMorgan Chase & Co. said Friday it has converted former Washington Mutual branches in seven states to Chase systems and is on track to finish absorbing WaMu by year's end.
Some Washington Mutual customers were unable to access their money through WaMu ATMs for about 90 minutes early Friday morning.
A Delaware bankruptcy judge has refused to cede control over a dispute between Washington Mutual Inc. and JPMorgan Chase & Co. involving billions of dollars in bank assets.
A bankruptcy judge in Delaware is considering Washington Mutual's request to examine JPMorgan Chase records.
Lawyers for Washington Mutual Inc. have filed a bankruptcy court complaint against JPMorgan Chase & Co. over some $4 billion in disputed assets.
Washington Mutual's holding company is suing federal regulators for billions of dollars, saying the firesale of the bank's assets to JPMorgan Chase violated its rights.
JPMorgan Chase & Co. said Thursday it expects to realize about $2 billion in savings related to its acquisition of Washington Mutual Inc., the failed Seattle thrift the bank acquired at the end of September.
A federal bankruptcy judge on Tuesday denied a request by Washington Mutual Inc. to keep details of certain asset sales secret.
Investigations into the collapse of financial titans such as Lehman Brothers, Bear Stearns and Washington Mutual have attracted most of the attention in the ongoing unraveling of the nation's mortgage-backed security mess.
JPMorgan Chase & Co. said Monday it will cut a total of 9,200 jobs at Washington Mutual, which it acquired Sept. 25 after Washington Mutual became the nation's largest bank to fail amid the ongoing credit crisis.
The CEO of failed Washington Mutual Inc. and five other senior executives of the largest U.S. thrift, now owned by JPMorgan Chase & Co., are leaving their positions soon.
Washington Mutual Inc. is a feisty, tinier competitor to big, conservative JPMorgan Chase. But after WaMu collapsed on Thursday, JPMorgan Chase is the new owner of its banking assets. Here's a look at the two companies, which combined will make the nation's second-biggest bank:
Washington Mutual is known for its no-thrills, no-fees, unconventional banking with a hip, neighborly feel. Its nickname? WaMu. Its tag line? Whoo hoo!
At least two major banks were reportedly in talks Sunday to buy Wachovia Corp., the latest U.S. bank to be the focus of investor anxiety over mounting losses tied to toxic assets.
As the debate over a $700 billion bank bailout rages on in Washington, one of the nation's largest banks — Washington Mutual Inc. — has collapsed under the weight of its enormous bad bets on the mortgage market.
JPMorgan Chase & Co. Inc. acquired the assets of Washington Mutual Inc.'s banking operations Thursday after federal regulators seized the ailing thrift, the country's largest.
Standard & Poor's Ratings Services downgraded Washington Mutual Inc.'s creditworthiness further into junk territory Wednesday, noting the increased likelihood that any sale of the company would only be done in piecemeal fashion.
Financial markets remained on edge Friday after the Bush administration's proposal for a $700 billion banking bailout ran into opposition from Republican lawmakers. Stocks ended mixed, with big financial companies lifting the Dow Jones industrials more than 120 points, but worries about smaller banks and parts of the technology sector taking much of the market lower.
America's battered financial services industry is close to getting the lifeline it was desperately seeking as government leaders sketched out a plan to rescue banks from bad debts that threatened their survival.
Ailing bank Washington Mutual Inc. appeared headed toward a sale Wednesday after a major investor removed a potential stumbling block and nervous banking regulators began approaching the most logical buyers.
Washington Mutual Inc. said Thursday it will take another multibillion write-down for bad bets on mortgage securities but insisted it has adequate capital to fund its operations amid concern about the thrift's financial stability.
Ok, so perhaps I was spoiled: Washington Mutual had lulled me into a false sense of safety, almost leading me to believe that it wasn't a banks' sole purpose to lie cheat and steal as much as possible out of its customers.
A Bigger Bank Bust Is On The WayThis weekend is the one-year anniversary of the bailout. But the Daily Beast's Nomi Prins says the too-big-to-fail banks have only gotten bigger—and much worse could be on its way.
Homestead woman's house auctioned by mistakeA bizarre series of mix-ups forced a Homestead woman out of her home when it was auctioned by mistake, WPLG Ch. 10 reports. On Wednesday night, Anna Ramirez was evicted by a man who bought her house — even though her house wasn't for sale.
The Most Important Financial Journalist of Her GenerationEXCERPT: After all, the mortgage crisis was nothing if not the Bear/Baron model writ large.
By John E. Fiorentino As the Washington Mutual (WMI) bankruptcy proceedings grind on in a Federal Court in Delaware, the FDIC's Sheila Bair has seemingly remained above the fray.
By: John E. Fiorentino I see the bad moon arising. I see trouble on the way. I see earthquakes and lightnin. I see bad times today. (Words and Music by JC Fogerty)
By: John E. Fiorentino On March 20, 2009 Washington Mutual's holding company filed suit against the FDIC for over 13 billion dollars. The suit contends that the fire-sale of the bank's assets to JPMorgan Chase was a violation of its rights.
Tips to help consumers with disputes on credit cardsMike Gaynor of Chicago says he's become an unwilling expert after spending almost 10 months and more than 100 hours fighting credit card charges.
The Reckoning - WaMu Built an Empire on Bad Loans - Series - NYTimes.comAs a supervisor at a Washington Mutual mortgage processing center, John D. Parsons was accustomed to seeing baby sitters claiming salaries worthy of college presidents, and schoolteachers with incomes rivaling stockbrokers'. He rarely questioned them.
The Reckoning - WaMu Built an Empire on Bad Loans"We hope to do to this industry what Wal-Mart did to theirs, Starbucks did to theirs, Costco did to theirs and Lowe's-Home Depot did to their industry. And I think if we've done our job, five years from now you're not going to call us a bank."
The Reckoning - WaMu Built an Empire on Bad Loans - Series - NYTimes.com"Woohoo! WaMu!" Three months later: "@!$%#."
The CNN Wire: Latest updates on top stories Blog Archive - 9,200 Washington Mutual jobs cut « - Blogs from CNN.com9,200 Washington Mutual jobs cut Posted: 05:01 PM ET By Catherine Clifford CNNMoney.com NEW YORK (CNNMoney.com) — JPMorgan Chase said Monday it plans to lay off 9,200 employees at Washington Mutual, the failed savings and loan that the New York City-based banking giant bou …
Why CEOs Don't Say 'Sorry' AnymoreOct. 21) - Elected officials in the past have said "I'm sorry" for everything from marital affairs to cross-dressing to corruption, and CEOs tossed around apologies like horseshoes at the company picnic. Not anymore.
Cantwell seeks explanation of WaMu seizure by fedsSen. Maria Cantwell wants federal regulators to explain the timing and sequence of decisions and actions that led to the seizure and sale of Washington Mutual's banking operations.
Reasons to be cheerful amid financial apocalypseThe interconnectedness and velocity of modern markets make this crash unique, says Martin Vander Weyer. But all is not lost yet: this is a time for cool heads and open minds...
Imagine for a moment a movie about greed, government corruption and the takedown of a 300 + Billion dollar company all in the name of greed.
WaMu creditors could challenge payments to Killinger, others Creditors in Washington Mutual Inc.'s bankruptcy could go after a $16.5 million cash severance payment promised to ousted CEO Kerry Killinger, experts said.
Biggest US bank failure ever: Washington Mutual assets acquired by JPMorgan ChaseAnother US banking giant fell Thursday, with the government seizure of Washington Mutual and the purchase of its operations and assets by JPMorgan Chase.
CEO of failed WaMu could get millions - International Herald TribuneThe CEO of failed Washington Mutual Inc., on the job only a few weeks before the largest U.S. thrift was seized by the government and sold to JPMorgan Chase & Co., is entitled to more than $13 million in severance and bonus pay.
Washington Mutual Tanks; CEO Pockets $18,000,000 For Three Weeks Work"Gross mismanagement" is how Henry Blodget describes Killinger's oversight of the company.
OK - this is ridiculous - my father mentioned this post going around last night, and that all these people that work for him were citing it as fact... I was astounded by the numbers, but didn't really believe him... but now, today, I'm seeing it EVERYWHERE... So here's the post.
JPMorgan buys collapsed Washington Mutual: Account holders face no lossesJPMorgan Chase & Co. came to the rescue of ailing Washington Mutual on Thursday, buying the nation's largest thrift after WaMu was seized by the Federal Deposit Insurance Corp. (FDIC) in the largest bank failure in world history.
WaMu seized by Feds. Largest Bank Failure in US HistoryJPMorgan Chase & Co., the third- biggest U.S. bank by assets, agreed to acquire Washington Mutual Inc.'s deposits and branches for $1.9 billion after regulators seized the thrift in the biggest bank failure in U.S. history.
JPMorgan buys WaMu"JPMorgan Chase acquired the banking assets of Washington Mutual late Thursday after the troubled thrift was seized by federal regulators, marking the biggest bank failure in the nation's history and the latest stunning twist in the ongoing credit crisis.
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