From bizjournals.com
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A Puerto Rico-based bank has filed a lawsuit against two Washington Mutual subsidiaries, alleging that they didn’t properly disclose information about mortgage-backed securities they issued in 2006 and 2007, shortly before the start of the financial crisis. (JPM)
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Filed under: ScandalsUSA Today's Matt Krantz reports that shares of some companies bankrupted by the financial crisis have posted huge gains in recent months: "Lehman and WaMu, for instance, were booted from stock exchanges and filed for bankruptcy protection. Yet on the lightly regulated Pink Sheets markets, this year their stocks are up 500% and 1,050%, respectively."The problem is that shares of companies like Lehman and WaMu are completely...
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From bloggingstocks.com
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SEATTLE - One year after Washington Mutual became the largest bank in U.S. history to fail, former employees are still grappling with questions about their own actions, the motives of top executives and the folly of a nation gripped by a housing boom....
From hispanicbusiness.com
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- Judge lets huge WaMu securities lawsuit advance (salon.com)
- Report: The WaMu "Bank Run" Rumors were True (blogger.com)
- Washington Mutual's failure is a road map for how to protect consumers (seattletimes.nwsource.com)
Then Jacked Up My Credit Card Interest Rates To Fill In The Gaping Hole Left By Mortgage-Lending Idiocy
Dear Chase Bank: Fuck you.
I refuse to underwrite
your subprime bullshit.
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From open.salon.com
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NEW YORK--(BUSINESS WIRE)--Chase announced today it has successfully upgraded products and technology in four states to link in the final 822 former Washington Mutual branches to the Chase computer system. Now, all Chase bank accounts across the country are on one computer system. As a result, more than 25 million customers can access their accounts at any of the more than 5,100 Chase branches and more than 15,000 ATMs -- just 13 months after...
From businesswire.com
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- The Cautionary Tale Of Seattle Art Museum's WaMu Deal (artsjournal.com)
Hats off to The Seattle Times for an excellent two-part series investigating the demise of Washington Mutual, onetime hometown hero turned zero (literally). The paper calls a spade a spade here, writing (emphasis mine) "In short, WaMu became one of the nation's biggest predatory lenders." Hey, better late than never. As The Audit, particularly Audit Chief Risk...
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From cjr.org
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SEATTLE - An attempt by former Washington Mutual Inc. employees to recoup their retirement account losses from JPMorgan Chase & Co., part of a complex tangle of litigation stemming from WaMu's collapse last year, has been dismissed.Some former WaMu directors and individuals who served on 401(k) fund committees remain partly on the hook, but the New York banking [...]
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From lmtribune.com
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