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WaMu settles dispute, eyes bankruptcy exit

A picture of Washington Mutual. Image via AFP.

(Reuters) - Washington Mutual Inc, the biggest bank to fail in U.S. history, said it reached a settlement in a dispute betweenshareholders and certain creditors that had prevented the bank from emerging from Chapter 11 bankruptcy proceedings. WaMu got a respite late on Monday when it said in a court filing that the shareholders represented…

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Wamu bankers sang ‘I like big bucks and I cannot lie’ before bank failed

“I like big bucks and I cannot lie,” they sang. “You mortgage brothers can’t deny.” We’re not making it up. According to documents released as part of a Congressional investigation, bankers from the failed Washington Mutual rewrote the lyrics to 1992′s “Baby Got Back” to celebrate their dominance of the…

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The Corner: WaMu’s failure might be because of the blacks (and the Latinos, and gays, and…)

Memo to Mark Krikorian: the economy’s failure is not simply an excuse to revise and update KKK-style propaganda: While juxtaposing these two facts — (1) WaMu has a racially and ethnically diverse workforce and (2) WaMu collapsed yesterday — the National Review writer headlined his post: “Cause and Effect?” Krikorian…

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