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Washington Mutual, Inc. (often abbreviated to WaMu) was an American savings bank holding company based in Seattle.It was the parent company of Washington Mutual Bank, which was the largest savings and loan association in the United States until its collapse in 2008.
WAMU (88.5 FM) is a public news–talk station that services the greater Washington, DC metropolitan area. It is owned by American University, and its studios are located near the campus in northwest Washington. WAMU has been the primary National Public Radio member station for Washington since 2007.
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Washington Mutual (WaMu) was seized in September 2008 by the US Office of Thrift Supervision (OTS). [15] Most of WaMu's untroubled assets were sold to JPMorgan Chase. [16] British bank Bradford & Bingley was nationalised on 29 September 2008 by the UK government.
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The FDIC then sold most of WaMu Bank's assets, including the branch network. [ 4 ] On September 26, 2008, WaMu, Inc., and its remaining subsidiary, WMI Investment Corp., filed for Chapter 11 bankruptcy and after seven plans to reorganize the company finally emerged from Chapter 11 bankruptcy the following month as WMI Holdings Corporation. [ 5 ]
Fishman joined WaMu on September 8, 2008, replacing outgoing CEO Kerry Killinger as part of that bank's restructuring in the face of the subprime mortgage crisis. [7] He served as the bank's CEO for 17 days before its banking assets were seized by federal regulators in the largest bank failure in American history. [3]