Listen: Senator Murray discusses the purchase of WaMu
(Washington, D.C.) – U.S. Senator Patty Murray (D-WA) issued the following statement today on the purchase of Washington Mutual by J.P. Morgan Chase:
“Today, Washington state residents woke up to the news that J.P. Morgan has agreed to buy our home town bank, Washington Mutual. This truly brings the reality of our national financial crisis home to our state.
“I have been in touch with J.P. Morgan and WaMu about their plans, and I have been assured that the transition will go smoothly and that WaMu’s banking customers will not see any interruption in service. That is good news.
“It is still too early to know the impact on local jobs, but I am saddened that this national crisis is having such an impact on our local families and economy. And it is yet another sign that we must find a bipartisan solution to address this crisis now.
“In Congress, we are working quickly to reach an agreement. We have rejected the President’s $700 billion blank check because it didn’t ensure oversight or protections for our taxpayers.
“Democrats and Republicans in the Senate are continuing to work with House Democrats, the Treasury and Fed to come to a solution that keeps this crisis from hitting more communities. We are hopeful that House Republicans will come to the table and work with us on a solution that protects America’s taxpayers.
“We need to quickly contain the serious financial situation we face today and help struggling American families, but we need to do it in a responsible way. And it is time to begin work on reforms to ensure Americans are never again left holding the bag for Wall Street’s mistakes.”
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