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FDIC sues former WaMu executives for $900 million

Date: March 17, 2011
Author: Thomas Heath
QUOTE: The Federal Deposit Insurance Corp. is suing three former top executives of Washington Mutual Bank, ... “They focused on short-term gains to increase their own compensation, with reckless disregard for WaMu’s long- term safety and soundness,” according to the complaint... “It is patently unfair for the FDIC to expect an individual to have perfect foresight into a crisis that the FDIC itself did not see coming,” Rotella said.

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