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4-Year Anniversary Of WaMu's Closure

Ken Tumin
Ken Tumin   |     |   5,672 posts since 2009

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”.




lou
lou   |     |   630 posts since 2010
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.