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FDIC May Sue Former WaMu Execs For $1 Billion In Damages

Monday, February 21, 2011 - 6:06 PM
According to the Wall Street Journal, the FDIC "has sent letters to former executives of the failed Washington Mutual Bank warning of possible legal action, according to a person familiar with the situation." Insiders say the FDIC will seek more than $1 billion in damages.

It has already been almost 29 months since regulators closed WaMu. It remains the largest bank failure in history. In my post, Two-Year Anniversary of WaMu's Closure, I reviewed the history of the failure and how depositors were affected.
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Ken TuminKen Tumin5,467 posts since
Nov 29, 2009
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