Washington Mutual Inc.

WASHINGTON (AP) — A seven-member investor group including billionaire George Soros and Dell Inc. founder Michael Dell have agreed to purchase failed lender IndyMac Bank, one of the largest casualties of the housing bust, for $13.9 billion. IndyMac,...

If you're nursing a market-average 40%-or-so loss in your stock portfolio in 2008, just remember: It could have been worse -- much worse. The destruction in the stock market this year was notable not just for its breadth but for the number of huge...

A seven-member group of investors has teamed up to buy the remnants of failed lender IndyMac Bank for $13.9 billion, federal regulators said Friday. The Federal Deposit Insurance Corp. said a holding company led by Steven Mnuchin, co-chief executive of...

While problems in banks' mortgage portfolios had surfaced some time before, 2008 was the year in which a landslide of deteriorating credit and concerns over capital took down industry stalwarts like Washington Mutual Inc. and Wachovia Corp., and sent...

First, investment bank Bear Stearns teetered near collapse, then was sold in a shotgun deal to JPMorgan Chase & Co. in a deal that valued each of Bear's shares at $10 -- roughly the same price as a New York movie ticket. The shares had traded at $154...

After a year of devastating losses, the stock market has the makings of a recovery in 2009: nearly $9 trillion in cash on the sidelines, waiting to be invested. But before investors can feel comfortable diving back in, they'll need to overcome the...

The Winter Park Chamber of Commerce has named Patrick Chapin to succeed Sam Stark as president. Chapin, 41, was previously executive director of a branch of the Sarasota Family YMCA, where he oversaw development, fundraising, strategic/financial planning,...

A federal bankruptcy judge on Tuesday denied a request by Washington Mutual Inc. to keep details of certain asset sales secret. WaMu, which filed for Chapter 11 reorganization in September, wants to sell certain equity holdings and interests in venture...

A trio of private investors -- J.C. Flowers & Co., Dune Capital Management and Paulson & Co. -- have teamed up in an effort to buy failed thrift IndyMac, a person familiar with the deal said Monday. The two private-equity firms and hedge-fund Paulson...

From Tribune news services The red ink on financial firms' balance sheets is leading to pink slips at a rapidly growing rate. The latest round of layoffs, among the largest announced, was unveiled Thursday by Bank of America, which said it plans to...

Bank of America Corp. said Thursday it expects to eliminate 30,000 to 35,000 jobs over the next three years as it faces a deteriorating economic environment and tries to absorb Merrill Lynch & Co. Charlotte, N.C.-based Bank of America Corp., parent of...

The Federal Deposit Insurance Corp. said yesterday that the list of banks it considers to be in trouble shot up nearly 50 percent to 171 during the third quarter - yet another sign of escalating problems among the institutions controlling Americans'...