It was announced Thursday evening that Washington Mutual was closed by the U.S government in what is the largest U.S. bank failure in history. The Federal Deposit Insurance Corp was named receiver and stated that "customers should expect business as usual on Friday, and all depositors are fully protected." I am not writing this post to discuss the details of the post-failure workings (please read this Yahoo News article), and I do understand that WaMu's failure is complicated.  I just...continue reading...