Via Calculated Risk:
JPMorgan Chase acquired the banking operations of Washington Mutual Bank in a transaction facilitated by the Federal Deposit Insurance Corporation. All depositors are fully protected and there will be no cost to the Deposit Insurance Fund.
"WaMu's balance sheet and the payment paid by JPMorgan Chase allowed a transaction in which neither the uninsured depositors nor the insurance fund absorbed any losses," Bair said
According to those who thought the FDIC was insolvent, the failure of WaMu was supposed to be the cause of death. Instead, the FDIC incurred exactly $0 in costs to its insurance fund from the failure.
Chalk another success up to a New Deal institution. Right now, the biggest risk to FDIC solvency is the possibility that the Wall Street bailout of $700 billion will pass, creating tremendous fiscal stress on the budget for years to come, should the FDIC ever subsequently need to make use of its $30 billion line of credit with the US Treasury,