The 12 Most Spectacular Financial Services Failures of All Time

As a result of its spectacular tech fail on Aug. 1, Knight Capital became the latest financial services firm to have pushed to the brink of collapse before being either rescued at the eleventh hour or permanently wiped out.
August 10, 2012

Washington Mutual

On September 24, 2008, Washington Mutual (WaMu) filed for Chapter 11 bankruptcy, one day after federal regulators seized its banking operations. The banking operations were sold to JPMorgan Chase. The collapse of WaMu, which listed more than $8 billion in debts, marks the largest bank failure in the U.S.

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