The Lost Bank: The Story of Washington Mutual-The Biggest Bank Failure in American History
A Banking, Finance, Economics book. So far, only a mortgage trader from Goldman Sachs has been criminally charged....
Based on reporting for which the author was named a finalist for the Pulitzer Prize and the Gerald Loeb Award, this book traces the rise and spectacular fall of Washington Mutual.During the most dizzying days of the financial crisis, Washington Mutual, a bank with hundreds of billions of dollars in its coffers, suffered a crippling bank run. The story of its final, brutal collapse in the...
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- Filetype: PDF
- Pages: 400 pages
- ISBN: 9781451617924 / 0
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More About The Lost Bank: The Story of Washington Mutual-The Biggest Bank Failure in American History
So far, only a mortgage trader from Goldman Sachs has been criminally charged. As Fay Chapman would later observe about the financial crisis in general, There is no law against stupidity. Kirsten Grind, The Lost Bank: The Story of Washington Mutual-The Biggest Bank Failure in American History //
Worth reading, though it's likely that you'll get angry while reading it. The willful ignorance, the willful destruction, those are angering, but there's also the people who never knew, the ones who couldn't have seen things coming (mostly the shareholders), the people who were in-house and kept in the dark or had been in house for... This book is not for everyone. But if you're at all interested in learning more about the 2008 financial crisis, or enjoy stories about the rise and fall of organizations, or just have a fading memory of WaMu and wondered whatever happened to those guys...then give this one a shot.For those of us in California, many of us remember Washington... This book is fantastic, in a Greek tragedy kind of way. Grind does a superb job mapping the rise and fall of WaMu through unchecked subprime lending. Where this book really excels though is painting the broader picture of WaMu's failure, and the greater market and the actions of federal regulators. WaMu did not fail because of subprime...
