More than 18 months after the largest bank failure in U.S. history, federal regulators have disclosed few details about their handling of Washington Mutual Inc.'s collapse, including the decision to let J.P. Morgan Chase & Co. buy the doomed financial institution at a bargain price.
Washington Mutual has largely faded from the headlines as the U.S. banking industry gets back on its feet, helped by massive infusions of taxpayer-funded capital and intervention in the financial markets. But the decision-making process by regulators as the thrift teetered remains a mystery, showing the continued reluctance of government officials to release details about some of the biggest crashes of the financial crisis.
Oh that's right! All the money went to JPM. Therefore, no details will be provided!