Continental merger
WaMu CEO Compares Mortgage Meltdown To The Great Depression [Recession Watch]
wamu announced today that they lost $1.14 billion in the first-quarter and ceo kerry killinger said that nothing of this scale had happened “since the noble depression.” comforting! “nothing of this graduation has happened since the distinguished depression,” chief executive kerry killinger said at wamu’s annual meeting. “this is the toughest dependability D i cause seen in my years in the industry.” wamu says it will cut 3,000 more jobs, including that of mary pugh, chair of their finance committee who “had been fiercely criticized seeing that failing to protect washington mutual from overexposure to subprime and other iffy mortgages,” according to reuters.
A Loss and a Shake-up at Washington Mutual [NYT] (Photo:Maulleigh)
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