Top officials say Washington Mutual was largely the victim of the housing downturn. But two former WaMu risk officers tell a Senate panel the failed savings and loan took too many chances. Former top executives at failed savings-and-loan Washington Mutual on Tuesday defended their performance in the years before the bank's 2008 collapse, saying they tried to reduce the huge risks it was taking in the subprime market and they, like virtually everyone else, failed to foresee the huge housing downturn that led to the financial crisis.
Comment on WaMu executives testify before Senate, defend their job performance
Los Angeles Times - Top News, Los Angeles Times
Tue, 04/13/2010 - 8:08am
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