Banks Are A Financial Disaster For Both Shareholders And Depositors

In days gone by, shareholders of large banks viewed their investments as a source of income via dividends and potential capital gains via share appreciation.  In days gone by, depositors viewed banks as the safest place to harbor their hard earned dollars while earning a respectable amount of interest income. That was then, this is […]

Banking Update – Daily Banking News

Welcome to Banking Update, a roundup of articles and news from around the internet. The FDIC settles a civil lawsuit against Washington Mutual executives for a fraction of the $900 million originally sought.  Virtually none of the settlement money came from the three WAMU executives but rather from insurance policies covering professional misconduct.  The three […]

Washington Mutual Soars 350% On Bankruptcy Exit Plan

The failure of Washington Mutual Bank on September 28, 2008 was the largest banking failure in U.S. history. After nervous depositors starting withdrawing billions of dollars, regulators feared that a run on the Bank would cause a nationwide panic and decided to close the bank.  The FDIC, acting as receiver, sold Washington Mutual to JP […]