Largest Bank Failure, Bailout Snags Hit Financial ETFs

Washington Mutual (WM), a major holding in several financial exchange traded funds (ETFs), has just joined the casualty list. JP Morgan Chase (JPM) is buying the bank’s assets for $1.9 billion after the FDIC seized the bank, reports Madlen Read for the Associated Press. WaMu is the largest bank to fail in the country’s history. Its [...]