Ex-WaMu execs defend bank's actions before failure [Reuters]

From Reuters via Yahoo Finance

A trio of former Washington Mutual officials and a trove of documents on Tuesday portrayed a pattern of breakneck loan-making and alleged fraud at the biggest U.S. bank ever to fail.

WaMu's failure burned shareholders, but it was a non-event for depositors. All deposits were assumed by Chase, and Chase continued all CDs without any rate cuts.