Washington Mutual

Business
2:11 pm
Tue June 26, 2012

Still mad about Chase's takeover of WaMu? You should be, author says

Kerry Lammert Flickr

J.P. Morgan Chase’s recent multi-billion dollar trading loss has knocked the bank far down the list of world’s most respected companies, according to the financial magazine Barron’s.  

That just adds to the company’s already tarnished reputation in the Northwest because of the way it took over Washington Mutual in a fire sale during the darkest days of the financial crisis in 2008. And that animosity is warranted, one expert says.

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Bank Failure Fallout
9:25 am
Thu April 7, 2011

WaMu shareholders may get settlement in class-action suit

Former Washington Mutual Bank officials, David Beck, left, and David Schneider, shown testifying before the Senate subcommittee on Investigations on April 13, 2010. Schneider is named in a lawsuit that could end if a settlement is approved.
Cliff Owen AP Photo

A tentative settlement has been reached in a class-action lawsuit against Washington Mutual Inc, the largest bank failure in the nation's history. If a U.S. district court judge approves it, shareholders would get some money for stocks that are basically worthless now.

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News Roundup
9:46 am
Fri March 18, 2011

Friday morning's headlines

David Scheider, who once led Washington Mutual's home loan division, and Kerry Killinger (rear right), former CEO of the failed bank, at a Congressional investigation into WaMu's failure, April 13, 2010, in Washington D.C. They are being sued by the FDIC.
AP

Making headlines around the Northwest this morning:

  • Lawsuits Blame Top WaMu Execs
  • Deeper Cuts for State Ahead
  • New Findings in Port Orchard Wal-Mart Shooting

 

Killinger on FDIC Allegations: "Fiction"

Negligence led to the nation's largest-ever bank failure, claims the Federal Deposit Insurance Corporation (FDIC), which filed suit against former Washington Mutual leaders Kerry Killinger, David Schneider and Stephen Rotella. The Seattle Times' Sanjay Bhatt reports the FDIC wants:

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