The $307 Billion Bankruptcy...

Washington Mutual was a bank with hundreds of billions of assets under management that ended up going bankrupt when they bet too heavily on mortgages before the 2008 financial crisis.

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Washington Mutual (WAMU) was a large savings and loan bank based in Seattle, Washington. It was one of the largest banks in the United States, with over 2,200 branches and assets worth hundreds of billions of dollars. In 2008, during the financial crisis, WAMU faced heavy losses in its mortgage portfolio and a loss of depositor confidence. The bank was seized by the Federal Deposit Insurance Corporation (FDIC) and promptly sold to JPMorgan Chase. WAMU filed for bankruptcy on September 25, 2008. The bankruptcy was one of the largest in US history, with assets of $307 billion.

[Skorcch]

Although this was one main reason for their bankruptcy it wasn't the only one, they also failed to identify worth buyer for their montages and expanded too quickly

[eyeseer]

Washington Mutual handed out credit cards to college students with a $10k credit limit expecting the recipients parents to pay off their debt.