Shares of Washington Mutual have been desisted from the New York Stock Exchange and are now only trading on pink slips under the symbol WAMUQ. The shares closed at 8 cents on Tuesday.

Washington Mutual was seized by regulators Thursday making it the largest bank failure in U.S. history. JPMorgan has agreed to acquire the deposits. Washington Mutual has lost 95 percent of its value in the last twelve months and has suffered nearly $6.3 billion in subprime related losses in the last 3 quarters.

In what may be the largest bank failure in U.S. history, Washington Mutual could be seized by regulators as early as today. The Federal Deposit Insurance Corp. is planning to take control of Washington Mutual, according to CNBC. JPMorgan is looking to acquire the failing bank possibly as early as tonight.

Washington Mutual's new CEO, Alan Fishman, will receive a salary and incentive package worth over $20 million in 2009. Washington Mutual's stock price has dropped over 90 percent in the last 12 months as the struggling bank continues to deal with poor conditions in the credit markets.

The government effectively placed Washington Mutual on probation. The bank has agreed to file a recovery plan with government regulators and confirmed news that current CEO Kerry K. Killinger will be replaced. WaMu is planning to provide U.S. regulators with a multi-year business plan, which will not require the bank not to raise capital, increase liquidity, or modify products or services.

Shares of Washington Mutual fell by 17 percent Monday, after an UBS analyst downgraded the bank stating that the bank severely underestimated the losses it would need to write-off related to home loans. The bank is now expected to lose more about $21.7 billion, much higher then the previously announced $12 to 19 billion.