FDIC Sues Former WaMu Executives

The FDIC sued three former executives of the failed Washington Mutual Bank, along with two of their wives, in a lawsuit filed on Wednesday. The FDIC is seeking $900 million in damages for alleged gross negligence and other failures by the former executives in the run up to WaMu’s collapse in September 2008, the largest-ever U.S. banking failure. – WSJ

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