The Wall Street Journal'​s Randall Smith discusses the relationship between buyout firm TPG, formerly Texas Pacific Group, which is currently investing in Washington Mutual, and SIV Axon Financial. It says, "The structured investment vehicle opened in March 2007 with an investment of $​275 million, and the fund'​s assets peaked at $​14 billion in the middle of last year. Soon after that it ran into trouble. It defaulted on its debt in November."

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