Friday, September 26, 2008

Washington Mutual - U.S. largest bank fails

A man leaves a branch of Washington Mutual in the financial district of New York September 19, 2008. (Lucas Jackson/Reuters)

Thursday's seizure and sale is the latest historic step in U.S. government attempts to clean up a banking industry littered with toxic mortgage debt. Negotiations over a $700 billion bailout of the entire financial system stalled in Washington on Thursday.

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