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NEW YORK - As the debate over a $700 billion bank bailout rages on in Washington, one of the nation's largest banks — Washington Mutual Inc. — has collapsed under the weight of its enormous bad bets on the mortgage market. The Federal Deposit Insurance Corp. seized WaMu on Thursday, and then sold the thrift's banking assets to JPMorgan Chase & Co. for $1.9 billion. Seattle-based WaMu, which was founded in 1889, is the largest bank to fail by far in the country's history. Its $307 billion in assets eclipse the $40 billion of Continental Illinois National Bank, which failed in 1984, and the $32 billion of IndyMac, which the government seized in July. One positive is that the sale of WaMu's assets to JPMorgan Chase prevents the thrift's collapse from depleting the FDIC's insurance fund. But that detail is likely to give only marginal solace to Americans facing tighter lending and watching their stock portfolios plunge in the wake of the nation's most moment

Canadian actress Pamela Anderson has revealed that it was her boobs that had a career all along, and that she was there just for the ride. From having appeared in movies and posed in some ads, to being the centerpiece in the Playboy magazine, Anderson sure thinks highly of her breasts. "Apparently, I've nicknamed my breasts Pancho and Lefty. But that's just not true, sadly," the Daily Mail quoted her as saying. "In the flesh, I don't think they're that magnificent at all, but something happens when they appear on screen - it's like they expand or something. "But that's it for them now, I think. I wouldn't get anything done to them again, because I tend to think about my health a lot more now than I ever did before. "When I first got a boob job it was because everyone else was getting theirs done, and I didn't put a great deal of thought into the whole process. "Then I got the implants removed after my divorce (from Lee) in a

Hugh Hefner and his “No. 1″ girlfriend Holly Madison have indicated that their relationship wont last forever. Holly, who was recently snapped getting cosy with illusionist Criss Angel, has claimed that she wants to get married and have a family, and thus Hefner may not be the man for her. “I want to be with somebody who I can be married to, and have kids,” Fox News quoted Madison, as telling Usmagazine.com. Also, Hefner, 82, who is still legally married to Kimberley Conrad, 45, mother of two of his four children, has admitted that he does not want to marry her. “That’’s not much in the cards for me,” he said. However, the couple is very much together for the time being. “She is still my girlfriend. Now will that last? I dont think anything lasts forever, said Hefner. He added: “I love her very much, but you know, she wants very much to get married and have children. That isnt very much in the cards for me. So there has to be a certain reality there. And Im sure the time will come when

Hollywood actress Nicole Kidman has attributed her "miracle pregnancy" to a dip in a waterfall in Australia's famous remote location Outback. Kidman believes a plunge into the Kununurra waters may have contributed to her unexpected pregnancy and that of six other women who worked on her latest epic film, Australia. It was during the production of this movie that she became pregnant with her first child, daughter Sunday Rose with husband Keith Urban. "I never thought that I would get pregnant and give birth to a child, but it happened on this movie," Kidman says in today's The Australian Women's Weekly. "Seven babies were conceived out of this film and only one was a boy," she gushes. “There is something up there in the Kununurra water because we all went swimming in the waterfalls, so we can call it the fertility waters now, Kidman told the Australian Women's Weekly. So were these potent waters also responsible for her extremely tiny baby b

In a gala adorned with Hollywood stars, The Walt Disney Co. wowed an industry crowd Wednesday in a showcase of its upcoming films that included a sequel to its 1982 sci-fi flick "Tron" and a "Lone Ranger" remake with Johnny Depp as Tonto. The daylong presentation at the Kodak Theatre, home of the Oscars, delivered repeated surprises as actors emerged onstage to tout animated 3-D movies, live-action thrillers and comedies -- with animal co-stars ranging from guinea pigs and chihuahuas to humpback whales. Jim Carrey, starring in his first Disney film, a 3-D motion capture remake of Charles Dickens' "A Christmas Carol," summed up the chaos of his performance, in which he plays seven characters including Ebenezer Scrooge. "It's pretty much just a party and everyone's invited," he said. Commenting on Disney's lengthy rollout, which included a full screening of the animated dog-hero movie "Bolt," Carrey told out-of-town guests

Shakira, a longtime activist for Latin American's poor children, plans to make her Colombian children's foundation a global one in the near future. Shakira said Barefoot, known as Pies Descalzos in her native Colombia, will start focusing on children worldwide later this year. "We have a model that works. Under less than $2 a day, we can provide a kid with top quality education and the nutrition that they need to be able to function and be able to learn because a kid with an empty stomach cannot learn," said the singer, a multiplatinum superstar known for hits like "Hips Don't Lie." "So this model that has been so successful in my country, now I want to bring it to other countries in my small way." Shakira made the comments Wednesday after appearing at Columbia University with Spanish singing sensation Alejandro Sanz and the presidents of Mexico, Argentina, Paraguay, El Salvador and Panama. The event focused on the importance of education, nutr