Sunday, December 28, 2008

Singular?  Hardly.

In an article titled By Saying Yes, WaMu Built Empire on Shaky Loans The New York Times states the following in regards to the failure of subprime lender Washington Mutual.

On a financial landscape littered with wreckage, WaMu, a Seattle-based bank that opened branches at a clip worthy of a fast-food chain, stands out as a singularly brazen case of lax lending.

As a failed subprime lender, Washington Mutual was no more singular that Countrywide, or any other player in the subprime lending market.

I wrote on this subject back in April, under the title Stripped Bare - Beneath the Feel Good Veneer of Subprime Lending.

All the posts I completed on this (14 total) can be accessed here.  Just scroll down a bit to view all 14 posts.

Posted by John Venlet on 12/28 at 08:02 AM
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