Results tagged “washingtonmutual”

Biggest U.S. bank failure ever: Washington Mutual, which struggled to find a buyer, was closed by the federal Office of Thrift Supervision and the FDIC, for "insufficient liquidity" and being "unsound." The government orchestrated JPMorgan Chase's purchase of WaMu deposits for just $1.9 billion. WaMu's is the country's biggest savings and loan and has $310 billion in assets, but was affected by the mortgage crisis. Also, while shareholders and bondholds will be wiped out, the NY Times says Wamu customers "are unlikely to be affected." (Also, the FDIC insures deposits up to $100,000). Earlier this year, WaMu rejected JPMorgan's takeover at $4/share--an analyst told Bloomberg News, "JPMorgan is getting a steal compared with what they were going to pay. It's very tragic.''

Wall Street is poised for a rally as central banks around the world--from the U.S.'s Federal Reserve to the European Central Bank and Bank of Japan (and others)--put more cash into the markets. Per the NY Times:

The Fed said in a statement that it had authorized a $180 billion expansion of its temporary reciprocal currency arrangements, known as swap lines, to allow banks to borrow more dollars in markets at a lower rates...

Continue reading "Worldwide Central Banks Pump Cash into Markets"

Since last Saturday, at least eight people retrieving money from ATMs were robbed by an armed man. Shortly after released the suspect's name and asking the public for help, the police arrested James Palmer yesterday morning.

• Today on the Gothamist Newsmap: a bank robbery at the Washington Mutual on Sheepshead Bay Rd. in Brooklyn, a worker fell into the water off Pier 11 on Governor's Island, and a bank robbery on 57th St. and Broadway in Manhattan.
• Additional charges could be in store for the woman who allegedly shot a Staten Island commune leader before fleeing to Philadelphia.
• Maya Rudolph is not returning for the new season of Saturday Night Live
• New York State Attorney General Andrew Cuomo's office is cruising Facebook.com for underage hookups, in order to file charges against the online social networking site.
• Is there a mad firebomber in Park Slope, endangering Subarus, garbage cans, small animals and Eve Ensler's privates? Brownstoner readers are worried.
• A 28-year-old woman was killed while crossing Houston St. this morning. A truck knocked the young woman out of her shoes and pinned her as she was crossing 6th and West Houston at 7:15 a.m.
• Yankees pitcher Roger Clemens was scratched from the series against the Tampa Bay Devil Rays, including tonight's start. Kei Igawa will start in place of the high-priced hurler with the hurt hamstring.
• Six New Yorkers were awarded MacArthur Genius Grants.

Whichever stadium/arena/field/theater/concert hall had the worst name, that title has been passed along. We're not sure what it was, but it now belongs to the WaMu Theater at Madison Square Garden. Not only is the official name obscenely long, but its short form, WaMu Theater, is just plain silly sounding. The Washington Mutual Theater has a much nicer ring to it, no? Madison Square Garden and Washington Mutual announced that they inked a long term agreement for the naming rights of the MSG venue formerly known as just The Theater at Madison Square Garden. Terms of the multi-year contract were not disclosed, but Cablevision and the Dolans probably padded their wallets pretty nicely. Maybe they can blow the money on the Knicks!

Bronx teen Gerardo Parraga was on his cell phone with his girlfriend when he was confronted and shot on Lafayette Avenue. The police believe Parraga was killed in a botched robbery after leaving a Washington Mutual on Saturday night. His girlfriend heard the confrontation and gunfire and called his family; the family discovered Parraga, who was shot in the shoulder and died at the scene. His family said cash, his cell phone and jewelry were missing.

- Look out for any cameras that seem to focus on the card and not the faces of the user and simply beware of anything that looks unusual, such as odd looking equipment or wires attached to a device.Well, wires would be a tip-off. The police also say you should check your ATM, and be suspicious if the Braille is suddenly gone from the keypad. Crazy.

The first, and very possibly best, advice we got when we returned to the Big City after our self-imposed exile to the Midwest was twofold: "Don't take taxicabs and don't pay ATM fees."

The City Council said that any renaming discussion would have to be open to public debate. Gothamist would love to see that: The George Washington Bridge Brought to you by Washington Mutual Bank.

Ned Vizzini, Be More Chill author