JPMorgan Chase to cut 9,200 WaMu jobs

According to CNN: “JPMorgan Chase said Monday it plans to lay off 9,200 employees at Washington Mutual, the failed savings and loan that the New York City-based banking giant bought in September.

Once the largest savings and loan in the country, Seattle-based WaMu collapsed due to bad bets on mortgages, resulting in the largest bank failure in U.S. history.”