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Seized wamu on thursday, and then sold the thrift's banking assets to jpmorgan chase & co.
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The paper the fall of washington mutual bank building and its implications discusses how IT failed because information technology was obsessed with profiteering and forgotten the use of reasonable lending standards.
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Washington mutual's 2008 death provided lawmakers with a case cogitation that pinpointed non only a advance of high-risk loaning, but also how those mortgages LED to the bank's failure — eventually.
Wamu, american university's nationwide renowned public energy station, had outgrown its 23,000-sq-ft interior at the school's brandywine building.
Over the course of conscionable a few days, wamu's entire mortgage banking operation transformed.
The strategy that finally would destroy Capital mutual and scourge so many of its borrowers was first presented publically in a 487-seat auditorium in manhattan's theater district connected dec.
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Last Update: Oct 2021
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Wamu's acquisition spree, on with its architectural plan to open branches in metro areas from coast to coast, was meant to transform the stodgy northwest penny-pinching into a general consumer-banking powerhouse.
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