User 218984

Did the FDIC Sabotage WaMu's Management and Erode Investor Confidence?

So what? WaMu's fate was sealed a long time ago by their incompetent management. FDIC's primary and secondary responsibilities are to depositors and taxpayers. Wamu shareholders, bondholders, employees and management are way down the list on their order of priority. When the FDIC has to be called in, things are pretty desperate and the value has already been destroyed. You have to look to Kerry Killinger and WaMu's board if you are going to point fingers. Besides, this is one of many bank failures to come and they don't have the time to deal with subtle distinctions. Get a sense of proportion.