Anecdotes on reckless lending at WaMu from the Seattle Times

The Seattle Times has a must-read piece on Washington Mutual today which reveals a lot of the fine detail on how the company was run and what led to its demise (hat tip calculated Risk). As with many of the other busted financial giants like Northern Rock and Lehman Brothers, indications that something was amiss were apparent long before their ultimate demise. However, in an environment of easy money and lax regulatory standards those signs were overlooked as share prices kept rising. Here

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