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Feds investigate failure of Washington Mutual

Feds investigate failure of Washington Mutual
ASSOCIATED PRESS WRITER

SEATTLE -- Federal authorities are investigating the failure of Washington Mutual, the nation's largest bank failure, to see if laws were broken.

U.S. Attorney Jeff Sullivan issued a statement Wednesday saying the FBI, the Federal Deposit Insurance Corporation, the IRS and the Securities and Exchange Commission have created a task force to look into the thrift's failure. He asked anyone with information to contact authorities through a tip line, or to email the FBI's Seattle office.

Sullivan said that "given the significant losses to investors, employees and our community, it is fully appropriate that we scrutinize the activities of the bank, its leaders and others to determine if any federal laws were violated."