"Inside the Collapse"

Number 24574
Subject Banking
Source Seattle Times
State WA
Year 2009
Publication Date 10/25/2009; 10/26/2009
Summary Kerry Killinger, former CEO of Washington Mutual, refused to take blame for the bank's collapse. Instead, he cited the faltering housing market and "credit crisis." An investigation by The Seattle Times reveals Killinger and his employees used "reckless" and "predatory practices," like encouraging high-risk loans, to increase the bank's profits. The greed-fueled decisions eventually led to the bank's collapse.
Category Contest Entry
Pages 27
Keywords WaMu; Kerry Killinger; Lehman Brothers; Washington Mutual; Countrywide Financial
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