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Gayle in MD
03-21-2011, 11:42 AM
BRAVO! FDIC SUES WAMU CEO'S & SPOUCES

WILMINGTON, Del: A U.S. government regulator sued the former top three executives at Washington Mutual Bank for their role in the biggest bank failure in U.S. history, accusing them of recklessly making billions of dollars in shoddy home loans.
The Federal Deposit Insurance Corp, which sold the failed bank in 2008, sued former Washington Mutual Chief Executive Kerry Killinger, former Chief Operating Officer Stephen Rotella and David Schneider, the former president of the company's home loans division.

The lawsuit, filed on Wednesday in the U.S. District Court for the Western District of Washington, accuses the three men of gross negligence. The FDIC also sued the spouses of Killinger and Rotella. (Reporting by Tom Hals, editing by Gerald E. McCormick)



http://www.huffingtonpost.com/2011/03/17/wamu-execs-sued-by-fdic-o_n_837237.html

pooltchr
03-21-2011, 11:50 AM
In this country, filing a lawsuit is not an indicator of wrongdoing. Conviction of a crime is.

Of course, we know this administration is looking for any way possible to take money from the evil rich so they can hand it over to their supporters.

We will see where, if anywhere, this goes.

Steve

LWW
03-21-2011, 11:56 AM
What's a "SPOUCE?"

wolfdancer
03-21-2011, 12:10 PM
Washington Mutual has had many past articles written about it, and their reckless investing, especially in the mortgage field. Gov't regulators stepped in and took control of the assets,then assigned the overseeing to Citibank... as I remember. They had virtually BK'd the bank before these steps were undertaken.
As to any criminal wrongdoings....this is the first time I have heard of that.....
Google wamu bankruptcy, and there are many articles about it.
I got stuck with 3k shares....from a high of about $33 as I remember....I thought it was a steal at about $3......it was a steal, but not the way I envisioned

pooltchr
03-21-2011, 12:49 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: LWW</div><div class="ubbcode-body">What's a "SPOUCE?" </div></div>

I'm not sure, but I feel positive that our self appointed spelling and grammar cop will get to the bottom of it!

Steve

LWW
03-21-2011, 03:44 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: pooltchr</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: LWW</div><div class="ubbcode-body">What's a "SPOUCE?" </div></div>

I'm not sure, but I feel positive that our self appointed spelling and grammar cop will get to the bottom of it!

Steve </div></div>

I see that woofie was willing to attempt a profit off of the misery inflicted by WAMU on these victims.