Biggest US bank failure ever

The collapse of the Seattle-based firm, the sixth largest US bank and the largest savings and loan company in the country, was the biggest bank failure in American history.

With $307 billion in assets, $188 billion in deposits and more than 2,200 branches, Washington Mutual’s failure by far eclipsed the previous record bank collapse, that of Continental Illinois in 1984. The latter had $40 billion in assets at the time of its demise.

Source: World Socialist Web