Washington Mutual Finance News

The Lost Bank: The Story of Washington Mutual - The Biggest Bank Failure in American History.

An advance copy of a new book about the failure of Washington Mutual says the giant S&L sought to off-load subprime and other risky loans as the housing market was unraveling and later suffered a crippling bank run, quietly losing nearly $17 billion in deposits en route to becoming the biggest bank failure in American history.

The U.S. government has filed three lawsuits against a group of large banks over losses on soured mortgage debt purchased by two small Seeking a combined $92 million, the lawsuits accuse the banks of misrepresenting the risks of residential mortgages they packaged into securities, causing losses for investors once the poor quality and defective ... (more)

Journalist Kirsten Grind will appear at Town Hall Seattle on June 26 to talk about her new book, "The Lost Bank," which tells the story of the collapse of Seattle's Washington Mutual.

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NEW YORK -- Shareholders of failing financial holding companies will take it on the chin -- but healthy subsidiary businesses will have a better chance of surviving -- under the Federal Deposit Insurance Corp.'s new resolution authority.

The judge in Washington Mutual's bankruptcy case ruled Monday that a group of investors who are plaintiffs in a federal mortgage-backed securities lawsuit against WaMu cannot file a claim in the company's bankruptcy case until distributions are made to a group of low-ranking creditors.

No building is ever more valuable than the day the owner inks a lease with a major tenant.