Posted on 09/26/2008 1:34:16 PM PDT by Ugot2Bkidding
Washington Mutual paid former CEO Kerry Killinger $14.4 million in 2007 and over $54 million from 2002-07, Forbes reports. In return, the nearly 120-year-old firm was led into the biggest bank failure in U.S. history.
(Excerpt) Read more at finance.yahoo.com ...
This is no lie. A major bank as well as a S&L went under in Tennessee in 1982. Both were ran by brothers. Bad loans, the failure of the 1982 Worlds Fair, and out and out fraud in both institutes even between each other caused it to happen. The two brothers went to prison after FDIC bailed out the bank and everyone who had a cent in the S&L lost all they had. Some believe it or not still think highly of them. Despite the criminal acts involve some still call them victims.
That’s even an understatement. How about CRIMINAL gross mismangament, and FRAUD perpetrated against some of their customers?
I hope to God the smile has been wiped off that scumbags face PERMANENTLY.
And, YES, there are few people I HATE in this world, but for what his company put my family, and numerous others through... Well, I hope there’s a special place reserved for him in HELL.
God forgive me, but I’m finding it VERY hard to feel ANY compassion or forgiveness towards him and anyone else at that company who perpetrated the crimes against my family and others...
I think perhaps I should ignore these threads, and spend the time praying instead... Now I know what the saying means, “Hell hath no fury...”
With all due respect, he IS a bad guy. I could tell you stories that would make your head spin about how that company was run, and how they treated their customers. It’s damn near unforgiveable.
Not only did he do that, but some mortgage customers who were sending in payments, IN FULL, and ON TIME received letters saying — You haven’t paid for the last 7 months, and we’re going to foreclose... I’ll go and try to find the investigative report they did at Channel 9 in Denver back in 2002 on it.
It wasn’t until the media got involved that WaMu pulled the foreclosure notices and properly credited people’s accounts for the THOUSANDS of dollars they had made in payments. Don’t even get me started on the fact that they FAILED TO PAY PROPERTY TAXES as contracted in the mortgages!
So, I guess the point I’m making is this — even if some of these were “bad investments” there were people paying IN FULL and ON TIME that were foreclosed on because they LIED about not receiving payments... As God is my witness, I am telling the TRUTH.
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