Friday morning update -- WAMU execs fire back at FDIC: “The factual allegations are fiction. The legal conclusions are political theater."
Read more: WaMu execs: FDIC suit is "political theater" | Puget Sound Business Journal
The complaint on SCRIBD is attached below:
from the Puget Sound Business Journal
Link to Complaint (Courtesy of Stopforeclosurefraud)
wamulawsuit--fdic 03 16 11 w
Read more: WaMu execs: FDIC suit is "political theater" | Puget Sound Business Journal
The complaint on SCRIBD is attached below:
“WaMu and its affiliate, Long Beach Mortgage Company, used shoddy lending practices riddled with credit, compliance and operational deficiencies to make tens of thousands of high risk home loans that too often contained excessive risk, fraudulent information, or errors,”
from the Puget Sound Business Journal
"The Federal Deposit Insurance Corp. plans to file a civil suit against at least three former Washington Mutual executives, including former chief executive Kerry Killinger, seeking to collect more than $1 billion in damages, according to people familiar with the pending suit.
Killinger, former president and chief operating officer Steve Rotella and David Schneider, former president of the failed bank’s home loan division, all recently received legal notices informing them of the pending litigation, these people say.
The three executives were the highest-level officials in charge of WaMu’s mortgage operations. It’s unclear when or where the FDIC will file its suit."Read more: FDIC to seek $1B from former WaMu execs | Puget Sound Business Journal
Link to Complaint (Courtesy of Stopforeclosurefraud)
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