As a result of the financial crises in 2008, which bank was seized by the FDIC after a 10-day bank run during which depositors withdrew $16 billion, or about 10 percent of all deposits?
A) JPMorgan Chase
B) Wells Fargo
C) Bank of America
D) Washington Mutual
E) Wachovia

Question

Quizplus · Accepted Answer

Washington Mutual (also known as WaMu) was seized by the FDIC after a 10-day bank run in 2008. During this time, depositors withdrew $16 billion, which amounted to about 10 percent of all deposits. The bank was subsequently sold to JPMorgan Chase for $1.9 billion.

As a Result of the Financial Crises in 2008, Which