Yesterday, JPMorgan Chase acquired the banking operations of Seattle-based Washington Mutual Bank. The Office of Thrift Supervision (OTS) closed WaMu late in the day after a run on its deposit accounts. The Federal Deposit Insurance Corporation (FDIC) took over as receiver. The FDIC sold nearly all of WaMu's operations to JPMorgan for $1.9 billion. The acquisition is expected to wipe out WaMu stockholders.