Washington Mutual Bought by JP Morgan for $1.9 Billion

Well its official, JP Morgan bought Washington Mutual. Records show that this is the second buy for JP Morgan Chase. Washington Mutual is the country's sixth biggest bank and one of the largest bank failures in American history.

On Friday 9/26 the United States government has contrived to assist the financial institutions get rid of poor mortgage debt.

Washington Mutual's stock nosedived 76% in this year alone. With the financial mess on Wall street and around the nation. Depositors of Washington Mutual withdrew just about $17 billion from their accounts, approximately from September 15^th to September 24^th. This is fear, people are afraid for the safety of their money.

I don't know about you, but this raises questions for concern regarding our financial future.

Washington Mutual's assets were bought by JP Morgan Chase on Thursday September 25^th, 2008. This is huge, HUGE! I want to know what will be the next financial institution to go under.

Readers, these are the facts. We have to educate ourselves. No longer will we be left in the shadows about these very important issues. I'm sitting on the edge of my seat, holding my breathe waiting to see what happens next. This is the time where we have to make intelligent financial decisions.