Planet Paprika Thursday, 03/04/21 06:24:24 AM
Re: Large Green post# 650080 0
Post # of 650222
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Washington Mutual has also been aware of this in October 10, 2005,
explicitly
Ms. Suzanne Q. Bielstein Director of Major Projects and Technical Activities and to the
Financial Accounting Standards Board- FASB.
At that time it was already about questions of LEGAL ISOLVENCY,
the consequences of a what-if-INSOLVENCY,
transfer of financial assets,
Special Purpose Entity ( SPV SPE ... ) etc.
"They" were prepared, even if they were surprised on a Thursday. I think hings were already going downhill for WaMu when they Long Beach Mortgage acquired, (loans that required little or no proof of the borrower's income, assets or creditworthiness ), t
he crisis , the rumors, the pressure added, we all know, but they were prepped, imo
Lou Pepper was the great cornerstone of the bank as CEO. He came in and saved WaMu when it was on the verge of collapse before the savings and loan crisis in the 80's and built it into a stable position.
Killinger was at least financially savvy and experienced enough to protect a 100+ year old institution smart even from the next crisis ( we know how it turned out, on the one hand Killinger had bet on risky mortgages and lost , on the other hand und this was
crucial J,PM, Project West & all the other bast...... ).
He made an intense and very deliberate effort to build the mortgage business at that time and wanted to have the largest mortgage business in the country..
Surely Kerry + executives at WaMu legitimately saw the housing bubble coming.
At later congressional hearings, one of the senators asked, “So you’re saying that you saw this giant crash coming, this bubble, and instead of running away from it, you essentially jumped into the middle of it? Why?
No answer....
The stock market, infinite space. The year is 2021, and these are the adventures of the spaceship WMIH Enterprise, which, with its crew of 2700, spends years exploring alien mysteries, new life and new stock prices. Many light years away from the ex-WAMU, the WMIH penetrates areas never seen by man before...
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