Seattle Real Estate Tyler Freed
Real Estate in Auburn, Bellevue, Renton, Lake Tapps, Seattle and Kent
Interesting article on HomeStreet Bank from the Seattle PI. While the economy languishes, HomeStreet looks to expand Being privately owned may be company’s saving grace By BILL VIRGIN P-I REPORTER HomeStreet Bank’s assets and branch count are mere fractions of fellow Seattle-based home lender Washington Mutual. On the other hand, HomeStreet made a lot more… Read More
Remember the iconic Depression-era movie “ Mr. Smith Goes to Washington , in which Jimmy Stewart plays the wholesome young man in Washington out to do good? Well, Mr. Smith could just as easily have been your friendly banker at Washington Mutual. Unfortunately, Mr. Smith lost his way and turned predatory lender – and that’s the subject of the second part of a Seattle Times expose on the rise and fall of WaMu. I posted yesterday on part one , which you should definitely read to get a sense of
(h/t to CR ) Seattle Times has a good story regarding the WaMu’s high risk strategies . Several thoughts: 1) American capitalism can be characterized by a complete lack of accountability; and 2) WTF!?! Where was the Office of Thrift Supervision? The articles leads off with a story of potential misleading public statements from Kerry Killinger while CEO of WaMu: On Sept. 10, 2007, Washington Mutual CEO Kerry Killinger stood before an audience of analysts and money managers and assu
(h/t to CR ) Seattle Times has a good story regarding the WaMu’s high risk strategies . Several thoughts: 1) American capitalism can be characterized by a complete lack of accountability; and 2) WTF!?! Where was the Office of Thrift Supervision? The articles leads off with a story of potential misleading public statements from Kerry Killinger while CEO of WaMu: On Sept. 10, 2007, Washington Mutual CEO Kerry Killinger stood before an audience of analysts and money managers and assu
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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