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WaMu Built an Empire on Bad Loans

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WaMu Built an Empire on Bad Loans. Real estate loans are frequently the main culprit in those episodes, and the problems are aggravated by a recession at least partly due to the banks making.

With its base in Spokane and the newly acquired Pullman Savings and Loan adding a presence in Pullman, Citizens Savings and Loan represented an opportunity for Washington Mutual to expand into eastern Washington, but banking legislation at the time did not permit a mutual bank to merge with a savings and loan.

His rental empire includes nearly 5,000 homes in Texas – concentrated in suburban Dallas and Houston. Unlike earlier corporate landlords who built apartment complexes. Back then, banks bundled bad.

 · Read about the boiler room run by the lending offices at WaMu, as profiled by the NYT ‘ s Peter Goodman and Gretchen Morgenson in their Dec. 28 article, "Saying Yes, WaMu Built Empire on Shaky Loans." Read it and weep for how WaMu has so recklessly contributed to the financial crisis.

Only 31, the Russian financier, whose empire includes a major bank. a small lending institution laden with bad loans, which he bought in the fall of 1994. But a year later, other banks quit lending.

Donald Trump built a business empire and won the presidency. as he began building his own empire, the only financial help he got from his father was a $1 million loan. Not only that: “I had to pay.

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Also appearing in the Sunday December 28 issue of the Times “Saying Yes to Anyone, WaMu Built an Empire on Shaky Loans,” by Peter S. Goodman and Gretchen Morgenson. “WaMu” is Washington Mutual, and you don’t need a degree in finance to be appalled by what was going on in recent years in that institution’s mortgage processing center:

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