washington mutual inc

The chief executive 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.

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:

Although Wachovia Corp. has been mentioned as one of the more troubled big U.S. banks, at least some analysts believe it is not at risk and is unlikely to suffer the same fate of Washington Mutual Inc.

They also believe that Wachovia will be able to survive on its own, without merging with another big financial institution.

JPMorgan Chase & Co. Inc. came to the rescue of Washington Mutual Inc. Thursday, buying the thrift's banking assets after WaMu was seized by the Federal Deposit Insurance Corp. in the largest failure ever of a U.S. bank.

This is the second time in six months that JPMorgan Chase has taken over a major financial institution crippled by bad bets in the mortgage market.

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. has struck a deal to acquire the deposits and some of the branches of beleagured thrift Washington Mutual Inc., according to news reports late Thursday.

The Wall Street Journal is reporting that JPMorgan Chase & Co. has struck a deal to acquire the deposits and some of the branches of Washington Mutual Inc., which has been battered by soured mortgages.

JPMorgan Chase & Co. has struck a deal to acquire the deposits and some of the branches of beleagured thrift Washington Mutual Inc., according to news reports late Thursday.

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.