Candidates React to WaMu Failure

Associated Press

MCCAIN: Says it underscores the need for the bailout bill, he’ll work with all parties “in good faith,” to get something passed. Read statement here.

OBAMA: Says the bank’s collapse is the “latest sign of the perilous situation facing our financial system and our economy,” need to find a bipartisan solution. Read statement here.

Comes after the Federal Deposit Insurance Corp. seizes the bank Thursday night, then sells its assets to JPMorgan Chase for $1.9 billion.

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