WaMu Sues FDIC Over Fire Sale

Full Story At  CBS News

(AP) Washington Mutual’s holding company is suing federal regulators for billions of dollars, saying the fire sale of the bank’s assets to J.P. Morgan Chase violated its rights.

The lawsuit was filed Friday in U.S. District court in Washington, D.C., against the Federal Deposit Insurance Corp., which seized the Seattle-based savings-and-loan in September. It was the largest bank failure in U.S. history.

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