Washington Mutual, once a prominent savings and loan institution, saw its stock value plummet dramatically leading up to its bankruptcy in September 2008. By December 22, 2008, Washington Mutual's stock was effectively worthless, trading at less than $0.10 per share, as the company had been seized by regulators and its assets sold off. The financial turmoil during that period was a significant part of the broader subprime mortgage crisis and the resulting financial collapse.
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