Thursday, September 27, 2012 - 6:02 PM

4-Year Anniversary Of WaMu's Closure

I actually missed the 4-year anniversary which was on September 25th. It's hard to believe it has already been 4 years since the nation's largest bank failure. Two years ago I did this blog post which looked back at Washington Mutual's closure from a depositor point-of-view.

We may learn more about the decisions to close WaMu in Sheila Bair's new book, "Bull by the Horns".

Last month I reported on a Q&A with WSJ reporter Kirsten Grind who wrote about WaMu's failure in the book “The Lost Bank”.

KenBDG5,132 posts since
Nov 29, 2009
Rep Points: 116,925

1. Friday, September 28, 2012 - 10:52 PM

This was not one of Sheila's best decisions. Washington Mutual did not need to be taken over and then have it given to Chase for virtually nothing. I would call this highway robbery, aided and abetted by the FDIC. Washington Mutual was much more consumer-oriented than Chase. Chase needs to broken up, because it is way to bureaucratic, inefficient and unfriendly to its depositors.

lou351 posts since
Aug 3, 2010
Rep Points: 1,984