Keyword: Sub Prime Mortgage Failures

Corporate Crime Flourishes in America! Email Print

The Seattle Times April 16 headline read:

"Shareholders' Fury Forces Policy Changes at WAMU".

Underneath this headline describing the rage shareholders of stock in Washington Mutual Bank felt as they saw their investment in one of the biggest banks in the U.S.A. collapse, the article continued to explain how this devastating economic meltdown shattered their faith in Washington Mutual Chief Executive Officer Kerry Killinger.

But before Killinger announced another huge loss of $19 billion in more bad loans, Alan Henry, a retired radio executive, blasted Killinger's record as Washington Mutual's CEO.  Directing his diatribe to the bank's stockholders, he reminded them, "You're the owners, not them (referring to the bank's executives).  They're employees."

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