"For those that were part of the inner circle and were 'too clubby to fail,' the benefits were obvious," Mr. Killinger said. "For those outside the club, the penalty was severe." A spokesman at the Office of Thrift Supervision, the federal agency that seized Washington Mutual, declined to comment on Mr. Killinger's testimony.
Mr. Killinger's comments were a contrast to the low profile he has kept since the collapse. He shuttles between homes in Palm Desert, Calif., and a gated community in Seattle, and has avoided public events and new business ventures, according to people familiar with the situation.
Tuesday, April 13, 2010
Former WaMu CEO Defends Bank's Actions - WSJ.com
Posted by macbeach at 10:45 PM