Washington Mutual

Kerry Lammert / Flickr

J.P. Morgan Chase’s recent multi-billion dollar trading loss has knocked the bank far down the list of world’s most respected companies, according to the financial magazine Barron’s.  

That just adds to the company’s already tarnished reputation in the Northwest because of the way it took over Washington Mutual in a fire sale during the darkest days of the financial crisis in 2008. And that animosity is warranted, one expert says.

Cliff Owen / AP Photo

A tentative settlement has been reached in a class-action lawsuit against Washington Mutual Inc, the largest bank failure in the nation's history. If a U.S. district court judge approves it, shareholders would get some money for stocks that are basically worthless now.

AP

Making headlines around the Northwest this morning:

  • Lawsuits Blame Top WaMu Execs
  • Deeper Cuts for State Ahead
  • New Findings in Port Orchard Wal-Mart Shooting

 

Killinger on FDIC Allegations: "Fiction"

Negligence led to the nation's largest-ever bank failure, claims the Federal Deposit Insurance Corporation (FDIC), which filed suit against former Washington Mutual leaders Kerry Killinger, David Schneider and Stephen Rotella. The Seattle Times' Sanjay Bhatt reports the FDIC wants: