Wow survived since 1889 but couldn’t survive 8 years of Bush:
NEW YORK (CNNMoney.com) — JPMorgan Chase acquired the banking assets of Washington Mutual late Thursday after the troubled thrift was seized by federal regulators, marking the biggest bank failure in the nation’s history and the latest stunning twist in the ongoing credit crisis.
Under the deal, JPMorgan Chase will acquire all the banking operations of WaMu, including $307 billion in assets and $188 billion in deposits.
Anyone else notice a little-mentioned story in the news today: China has ordered its banks to stop lending money to their U.S. counterparts.
This is very, very, very ominous news. China and Dubai are our biggest creditors; if they stop lending, the dollar could conceivably collapse completely.
Shades of Germany, 1930′s, just before a shining new politician named Adolph rose to power to save them all… wheelbarrows full of money to buy a loaf of bread…
