Washington Mutual's lame legacy
Four years later, downtown Seattle has recovered from the loss of a major corporate headquarters. The thousands of employees who lost their jobs and shareholders who were ruined -- probably not so much.Last month the Times' Drew DeSilver wrote in detail about WMI Holdings, which ostensibly is a mortgage reinsurer. Though if you figure out what the heck this company really is or does, be sure to let us know.
Like every other instance of the cooks who made the Great Recession, the bigs at WaMu got away with it. ... Seattle lost a major financial institution and banking was even more concentrated in the east.
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