FDIC slow to pursue failed bank directors, recover tax dollars

With the FDIC struggling to manage huge losses to its insurance fund, critics say the agency should do more to hold executives of failed ban

WaMu, other banks motivated by greed, financial crisis probe concludes

By David Heath

WaMu, other bankers knowingly sold bad loans, Senate probe of crisis concludes

Excerpts from this story referencing "Washington Mutual":

"… loans to anyone, motivated by sheer greed.In one 2007 case, executives at Washington Mutual Bank were urgently trying to sell risky loans likely to go delinquent to g …"

"… downgraded and by February 2010, more than half the loans were delinquent.Washington Mutual became the largest bank in U.S. history to fail. Last month, the Fede …"

WaMu bank executives aware of rampant fraud

By David Heath

WaMu bank executives aware of rampant fraud but failed to act

Excerpts from this story referencing "Mortgage loan":

"… acked securities. In 2003, Washington Mutual halted the sale of Long Beach Mortgage loans to Wall Street in 2003 and sent in a legal team for three months to try t …"

Advertisement

WaMu examiner sheds new light on bankruptcy, criticizes FDIC for lack of cooperation

Joshua Hochberg's report on the fall of Washington Mutual discloses no Lehman-like allegations of accounting chicanery, nor does it establis

Excerpts from this story referencing "Washington Mutual":

"… ything — in life, and, it seems, in bankruptcies.Consider the failure of Washington Mutual Bank, seized by federal regulators in the fall of 2008 and quickly sold in …"

"… report, though valuable, doesn’t address the decision-making that led to Washington Mutual’s precarious position as of the spring of 2008. For that, it is instruct …"

FDIC sits on potential 50 lawsuits as it tries to reach settlements

In the more than two years since Lehman Brothers went bust, the Federal Deposit Insurance Corp. has shuttered more than 250 banks, but has s

Lee Meyerson, lawyer for the big banks, to the financial rescue

By Marianne Lavelle

A lawyer who has represented some of the nation’s largest banks — and helped them in their bids to grow even larger — has been tapped to adv

Excerpts from this story referencing "Washington Mutual":

"… experience in dealing with financial industry emergencies. He represented Washington Mutual earlier this year in its effort to climb out of a deep subprime mortgage h …"

Advertisement

Financial reform this week: How to handle a Too Big To Fail bank near collapse

By Julie Vorman

FDIC panel tackles tools needed to dismember biggest banks

Excerpts from this story referencing "Washington Mutual":

"… 08 when several large institutions such as Merrill Lynch, Countrywide, and Washington Mutual saw their liquidity and stock prices rapidly plunge, forcing the governmen …"

The Subprime 25

A full text list of the top 25 lending companies responsible for subprime loans

Excerpts from this story referencing "Washington Mutual":

"… Amount of Subprime Loans: At least $68 billionLong Beach Mortgage Co./Washington MutualAmount of Subprime Loans: At least $65.2 billionOption One Mortgage Co …"

WaMu bank executives aware of rampant fraud

By David Heath

WaMu executives knew of fraud yet they failed to act, Senate investigation finds

Excerpts from this story referencing "Washington Mutual":

"… oans.A Senate committee tomorrow will present evidence that in the case of Washington Mutual Bank, the largest bank failure in history, executives knew about the fraud …"

"… n Democrat who will chair the hearing, sidestepped questions about whether Washington Mutual executives broke criminal laws.But Levin’s committee has unearthed docum …"

"… esident of Home Loans. Sources close to the committee say Kerry Killinger, Washington Mutual’s president, chief executive officer and chairman at the time, knew abou …"

"… f tried to raise red flags. The story detailed how management practices at Washington Mutual became an invitation for fraud. Within Long Beach Mortgage, former employe …"

Whistleblowers ignored, punished by lenders, dozens of former employees say

By Michael Hudson

Former mortgage company employees say fraud was widespread in industry

Excerpts from this story referencing "Washington Mutual":

"… hed for trying to fight fraud worked at giant firms such as Wells Fargo or Washington Mutual (WaMu). Others worked at smaller lenders that joined the rush to sell home …"

"… owers as being among the chief culprits.In congressional testimony, former Washington Mutual chief executive Kerry Killinger blamed borrowers for misleading WaMu about …"

"… ocess.A two-year U.S. Senate investigation found that senior management at Washington Mutual ignored clear evidence that bank employees were engaging in fraud.In a rep …"

"… he nation’s largest commercial bank, others were raising questions about Washington Mutual, the nation’s largest savings and loan.One of them was Theresa Hagman, a …"

Pages