Just after a week of Lehman Brothers collapse, the financial turmoil in the United States has claimed another institution — Seattle-based Washington Mutual Bank Inc( WaMu ), which was founded in 1889, has collapsed, the largest bank to fail by far in the country’s history.

The Federal Deposit Insurance Corp. seized WaMu on Thursday, and then sold the thrift’s banking assets to JPMorgan Chase & Co. for $1.9 billion, according to AP report.

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• Chapter 7 and Chapter 11 Bankruptcy - Differences ?
• TOP 10 America’s Bankruptcies

[ AP - WaMu becomes biggest bank to fail in US history ]

Gem Diamonds, a London-listed mining firm, has recovered the 20th-largest rough diamond ever found in the southern African nation of Lesotho, which could be one of the largest and highest quality round polished diamonds.

GEM DIAMONDS Image Via CNN

The discovery was made on September 8 at the Letseng mine in Lesotho, a small landlocked country surrounded by South Africa. The mine is owned by London-listed mining company Gem Diamonds and the Lesotho Government.

Experts in Antwerp, Belgium who analyzed the 478-carat stone determined it to be of the highest color grading available for a white diamond, said a statement from Gem Diamonds Ltd., the company that found the stone.

[ Huge diamond hailed as record breaker ]

As of this writing, Bank of America website bankofamerica.com is down.

What is happening to BankOfAmerica website ?

error we are getting is

“The server at www.bankofamerica.com is taking too long to respond.”

Contact Us pages seems working, In USA for Online Banking Technical Support call

• 1.800.792.0808 (California)
• 1.866.399.0122 (Idaho, Washington)
• 1.800.933.6262 (All Other States)

Here is the experts from the CNN Subprime crisis: A timeline ; mortgages crisiswhich began to surface less than 2 years ago.

• Feb. 7, 2007 - HSBC announces anticipated losses from rising defaults of subprime mortgages in the United States.
• April 2, 2007 - New Century Financial files for bankruptcy.
• June 2007 - Hedge funds run by Bear Stearns run into large losses.
• Sept. 18, 2007 - Federal Reserve starts cutting interest rates.
• July 11, 2008 - FDIC takes over IndyMac ; FDIC warns more bank failures lay ahead.
• March 16, 2008 - JPMorgan acquires Bear Stearns, deal engineered by the Federal Reserve.
• Sept. 6, 2008 - US Treasury takes over mortgage gaints Fannie Mae (Fortune 500) and Freddie Mac (Fortune 500).
• Sept. 15, 2008 - Lehman Brothers files for bankruptcy court protection; Bank of America (Fortune 500) acquires Merrill Lynch.

[ Subprime crisis: A timeline ]