WaMu out! Will J'MorgMu offer free checking?
What should they call the new bank? Suggestions? I like the sound of J'MorgMu or Mu Goo Gai Bank.
WaMu was seized by the federal government, and some or most of its assets were sold to JPMorgan Chase. Chase recently was given the new ability to accept deposits and, therefore, become a traditional bank.
It is the largest U.S. bank to ever go-under.
Your deposits are safe; they're federally insured. But if you own WaMu shares, they're virtually worthless.