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Regulator shuts Washington Mutual
the ots said it was worried wamu would run out of cash as $16.7bn of deposits had been withdrawn since 15 september .
it is the same bank that stepped in to buy bear stearns in march .
washington mutual (wamu) has been closecond by its regulator, making it the biggest us bank to fail .
with insufficient liquidity to meet its obligations, wamu was in an unsafe and unsound condition to transact business, the ots said .
the office of thrift supervision (ots) stepped in to shut the mortgage lender before selling its assets to jpmorgan chase for $1.9bn (Â1.0bn) .