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Washington Mutual's Rise and Fall

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41 views1 page

Washington Mutual's Rise and Fall

Uploaded by

selesmab
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Washington Mutual (WaMu), which was once the largest savings and loan association in United States,

was established in 1889. The company was well-known for its focus on home loan and retail banking
services, which allowed it to grow quickly by acquiring various financial institutions and building a large
asset portfolio. By the early 2000s, WaMu became a pillar of the American banking system. But its
aggressive profit- seeking strategies and risky practices eventually lead up to one of the biggest bank
collapses in U.S. history.

The Washington Mutual dispute erupted during the financial crisis of 2008. The bank’s collapse was
partly caused by subprime mortgage lending. This involves approving high-risk loans without adequate

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