BANKING Regulators did little to halt reckless practices at WaMu…. Same as Indymac!
LA Times reporter By Jim Puzzanghera writes about how the OTS’s and FDIC’s lack of oversight and willingness to turn a blind eye to the obvious reckless practices caused the collapse of Washington Mutual.
Further Jim writes “The OTS gets the most heat because it was WaMu’s primary regulator. The agency, which supervises savings and loans, also has been criticized for its lax oversight of IndyMac Bank, a Pasadena lender that failed in 2008.”
Click here to read the story