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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: Washington Mutual

Washington Mutual stories: 27 news summaries

1 - 20 of 27 Stories | 1 2 Next >>

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JPMorgan Plans Relief for $110B in Mortgages

WaMu customers included in measure to avoid foreclosures

Oct 31, 08 2:22 PM CDT
(Newser) - JPMorgan Chase will help distressed homeowners by reducing interest rates or principal balances for $110 billion in mortgages, Bloomberg reports. The restructuring applies to clients of Washington Mutual, which JPMorgan agreed to buy last month. Foreclosures will be suspended on all loans for the next 90 days while the relief... More »

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mortgage • Washington Mutual • WaMu • refinanced mortgages • subprime crisis • mortgage defaults • JPMorgan Chase • financial crisis

 Letters 
 to Dimon: 
 You'll 'Die 
 in 10 Days' 

Feds hunt author of threats to bank CEO

Oct 23, 08 6:50 AM CDT
(Newser) - A flurry of letters threatening the life of JPMorgan CEO Jamie Dimon, as well as an Oklahoma City-style bombing of a bank facility, are being investigated by the Postal Investigation Service. ABC News reports a $100,000 reward has been posted for information about the 45-plus letters, all postmarked last... More »

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death threats • letters • Washington Mutual • FDIC • Office of Thrift Supervision • JPMorgan Chase • financial crisis • Jamie Dimon • U.S. Postal Inspection Service • Oklahoma City bombing

Battered Wachovia Shops for Buyers

Citigroup, Wells Fargo among suitors in wake of WaMu collapse

Sep 27, 08 11:31 AM CDT
(Newser) - Wachovia is in a new round of talks with potential buyers, reports the Wall Street Journal, courting Citigroup, Wells Fargo, and Spain’s Banco Santander to help guard it from the financial market crisis. While the bank says it’s not in immediate danger, shares at Wachovia, which holds... More »

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Citigroup • merger • Wachovia • credit crisis • Washington Mutual • financial crisis

JPMorgan Chief Had Long Drooled Over WaMu

Firm writes down $31 billion in bad debt, but builds nation's largest bank

Sep 26, 08 2:45 PM CDT
(Newser) - The failure of Washington Mutual was an opportunity for JPMorgan Chase CEO Jamie Dimon, who long held a desire to buy the bank, the Seattle Times reports, and saw its large West Coast presence as particularly attractive. Now Dimon, who incorporated Bear Stearns earlier this year, has used the credit... More »

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mergers and acquisitions • credit crisis • Washington Mutual • FDIC • JPMorgan Chase • mergers • financial crisis

MARKETS

 Stocks Sink; Bush Pledges Deal 

Dow falls over 100 points at open

Sep 26, 08 8:52 AM CDT
(Newser) - Socks plummeted today as confidence in the federal bailout program evaporated and investors absorbed the collapse of Washington Mutual. The Dow fell 140 points after the opening bell, while the Nasdaq dropped 2.2% and the S&P fell 1.7%, the Wall Street Journal reports. President Bush gave... More »

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stock market • Wachovia • markets • Washington Mutual • financial sector • bailout

European Markets Slide
as US Rescue Talks Stall

The lack of resolution in Washington sends shudders around the globe

Sep 26, 08 7:14 AM CDT
(Newser) - European markets swooned on news of the US bailout troubles and the failure of Washington Mutual, the Wall Street Journal reports. The Dow Jones Stoxx 600 fell 1.5%, Germany’s DAX index slipped 1.4%, and the UK’s FTSE 100 and France’s CAC-40 each shed 1.3%.... More »

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stock market • Nikkei • FTSE • Washington Mutual • CAC 40 • DAX • bailout • financial crisis

updated

JPMorgan Buys WaMu
After Regulators Seize It


Sep 25, 08 7:43 PM CDT
(Newser) - Federal regulators seized Washington Mutual tonight and sold nearly all of its operations to JPMorgan for $1.9 billion, the Washington Post reports. It is the largest bank failure in US history. WaMu, previously the nation's largest savings and loan, had been reeling from bad mortgage loans and put itself... More »

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Washington Mutual • JPMorgan Chase • banking industry • financial crisis

MARKETS

 Stocks Climb Nearly 200 Points 

Poor housing, durable goods goods data don't deter market's optimism

Sep 25, 08 3:15 PM CDT
(Newser) - Stocks rallied this afternoon on news that lawmakers had reached a consensus on the Wall Street bailout plan, MarketWatch reports. Optimism proved infectious as GE rose 6.26% despite cutting an earnings estimate earlier today. The Dow climbed 196.89 points to 11,022.06. The Nasdaq gained 30.89... More »

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Dow Jones • durable goods • home sales • Lehman Brothers • Nasdaq • Washington Mutual • WaMu • S&P 500 • bailout • financial crisis

WaMu Looks to Private Equity
as Bank Teeters

Blackstone, Carlyle in talks after overtures to other banks flop

Sep 25, 08 8:52 AM CDT
(Newser) - Washington Mutual is hoping private equity will save the bank after its efforts to broker a sale to another financial institution came to nothing. Both the Carlyle Group and Blackstone are considering a takeover of WaMu, insiders tell the Wall Street Journal, although a deal is not yet assured. Many... More »

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private equity • Carlyle Group • takeover • Washington Mutual • Blackstone • WaMu

 Morgan Stanley, WaMu
Edge Closer to Deals

WaMu readies for sale while Morgan mulls merger options

Sep 19, 08 3:07 AM CDT
(Newser) - Two of the biggest financial institutions in the midst of the market turmoil are moving closer to hammering out deals. Washington Mutual's suitors are believed to include Citibank, JP Morgan and Bank of America, insiders tell Bloomberg, while Morgan Stanley and Wachovia have stepped up merger talks, reports the New ... More »

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Bank of America • Wachovia • Morgan Stanley • Citibank • credit crisis • Washington Mutual • financial institutions • JPMorgan Chase • financial crisis

WaMu Gets OK to Raise Capital as It Seeks Sale

Investor OKs share dilution as beleaguered bank looks for suitors

Sep 18, 08 7:00 AM CDT
(Newser) - Washington Mutual is attempting to raise capital or sell itself, the Wall Street Journal reports, and it got a big boost in that effort yesterday from TPG. The private equity firm, which sunk $7 billion into WaMu in April, waived a clause that would have effectively prevented the thrift... More »

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private equity • credit market • Washington Mutual • financial sector

 Feds Search for WaMu Buyer 

Falling share price stokes worries of a bank run

Sep 17, 08 1:06 PM CDT
(Newser) - Washington Mutual, America's largest savings and loan, may be the next big financial institution to fail, the New York Post reports. Fearing a run on the struggling bank, federal regulators placed calls yesterday gauging interest in a WaMu buyout to Wells Fargo, JP Morgan Chase, HSBC, and others, but no... More »

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Wells Fargo • credit crisis • Washington Mutual • mortgage backed securities • Standard and Poor • savings • bank failure • JPMorgan Chase

analysis

Credit Crisis at Tipping Point

As troubles mount,
US government's intervention shows signs of strain

Sep 12, 08 9:29 AM CDT
(Newser) - The federal government keeps taking aggressive steps to keep the markets from flying off the rails, and yet here we are again: facing another crisis and wondering how much intervention is necessary, the Wall Street Journal reports. With government intervention showing signs of strain amid entrenched economic problems, the crisis... More »

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Federal Reserve • Lehman Brothers • Freddie Mac • Fannie Mae • Washington Mutual • economy

MARKETS

 Late Reversal Leads to Gains 

Off big early on Lehman, worries, Dow finishes session up 164.79

Sep 11, 08 3:39 PM CDT
(Newser) - The markets saw gains late in the day today despite large losses in the financial sector, MarketWatch reports. Lehman Brothers fell another 41.9% as traders deemed its survival plan ineffective. But falling oil boosted industrial and transport shares, and the Dow closed up 164.79 at 11,43371. The... More »

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Dow Jones • General Motors • Lehman Brothers • Nasdaq • Caterpillar • AIG • Washington Mutual • S&P 500 • oil prices

 WaMu 
 Cans 
 CEO 
 Killinger 

From rapid expansion and growth to rapid decline, WaMu is in deep trouble

Sep 8, 08 5:38 AM CDT
(Newser) - The enduring subprime contagion has claimed another victim, as downtrodden Washington Mutual has forced out CEO Kerry Killinger, reports the Wall Street Journal. Killinger, who has led the nation’s largest thrift since 1990, and has taken it from a small Seattle business into one of the nation’s... More »

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Washington Mutual • WaMu • subprime crisis • mortgage defaults • Kerry Killinger

ANALYSIS

Could-Have-Been-Worse News Now Cheers Wall Street

A year into crisis, analysts redefine once-shocking news as not so bad

Jul 23, 08 5:56 AM CDT
(Newser) - Yesterday's announcements of multibillion-dollar losses at Wachovia and Washington Mutual were only the latest poundings since the credit crisis took hold a year ago. Yet Wall Street, its expectations at rock bottom, cheered the reports because they could have been worse. Shares in WaMu, which posted a $3.3 billion... More »

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subprime mortgages • Wachovia • recession • credit crisis • Washington Mutual • mortgage backed securities • quarterly results • financial crisis

MARKETS

 Financials Key Downward Spiral 

Executive shuffles at WaMu, Wachovia give market jitters

Jun 2, 08 3:38 PM CDT
(Newser) - Financials keyed major market losses as high-level personnel shuffles at Wachovia and Washington Mutual, plus a report by Standard and Poor that downgraded the ratings of several prominent banks, disconcerted investors, MarketWatch notes. The Dow lost 134.50 to settle at 12,503.82, and the Nasdaq lost 31.13,... More »

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Dow Jones • Wachovia • Merrill Lynch • Nasdaq • credit crisis • Washington Mutual • Standard and Poor • WaMu • S&P 500

Celebrity Foreclosure:
Canseco's Out at Home

Former baseball star forced to move into smaller home

May 1, 08 9:09 PM CDT
(Newser) - It can happen to the rich and famous, too: Jose Canseco's mansion is in foreclosure, and he's had to move into more modest digs, Inside Edition reports. Canseco owed more than $2.5 million on the California property his neighbors called the "hotel." He made $30 million in... More »

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foreclosure • mortgage • debt • Jose Canseco • Washington Mutual • mortgage loans • mortgage debt • mortgage lender • subprime crisis • mortgage defaults

Shareholder Revolt Strips WaMu Execs
of Fat Pay

One resigns; chairman asked to step down

Apr 16, 08 1:19 PM CDT
(Newser) - Washington Mutual shareholders got some of the blood they were out for yesterday, the Wall Street Journal reports, as the company backtracked on a pay scheme that would have shielded company executives from the subprime fallout. Board finance-committee head Mary Pugh also resigned, appeasing investors who blamed her for failing... More »

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executive compensation • housing market • shareholders • Washington Mutual • bonuses • subprime crisis • Kerry Killinger

$6B From Outside Investors Will Shore Up Wachovia

Bank selling discounted shares to combat credit crunch

Apr 13, 08 10:48 PM CDT
(Newser) - Ailing bank Wachovia will get a $6 billion-$7 billion shot in the arm from outside investors, the Wall Street Journal reports. Specifics of the capital infusion, designed to help the company recover from the credit crisis, haven’t been finalized. Details may be revealed when the company reports first-quarter... More »

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Wall Street • Wachovia • credit crisis • Washington Mutual • mortgage loans • private equity firms • sovereign wealth funds • Golden West

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