“The Lost Bank: The Story of Washington Mutual — The Biggest Bank Failure in American History” by Kirsten Grind
~ Sunday, January 22, 2023 Blog Post ~
This weekend, I came across this publication titled, “The Lost Bank: The Story of Washington Mutual — The Biggest Bank Failure in American History” by Kirsten Grind which was published in 2012.
When I have free time, I sometimes take the time to read articles, tomes, and other reference materials and reflect on the 2008 world financial crisis.
This international event that commenced in the United States led to the shutdown and dissolution of several financial institutions in the country like Wachovia, Lehman Brothers, Bear Stearns, and so forth.
Washington Mutual was the United States’ largest loan and savings association until its collapse in 2008. The United States Office of Thrift Supervision seized Washington Mutual’s banking operations on September 25, 2008 and placed it into receivership with the Federal Deposit Insurance Corporation.
Washington Mutual’s closure happened during the 2008 global financial crisis. Sometime in 2012, I watched the biographical drama TV movie “Too Big to Fail” which is about the 2008 financial meltdown. I saw this screenplay on HBO which typically presents the latest movies one year after premiering on cinemas.
“Too Big to Fail” enlightened me about how the 2008 financial crisis happened and how it was resolved through America’s Big Four banks, consisting of JPMorgan Chase, Wells Fargo, Bank of America, and Citibank.
I am looking forward to my free time again when I can read “The Lost Bank: The Story of Washington Mutual — The Biggest Bank Failure in American History” by Kirsten Grind.
References:
https://en.wikipedia.org/wiki/Big_Four_(banking)
https://en.wikipedia.org/wiki/Too_Big_to_Fail_(film)
https://en.wikipedia.org/wiki/Washington_Mutual
https://www.federalreserve.gov/newsevents/testimony/alvarez20100901a.htm
https://www.thebalancemoney.com/washington-mutual-how-wamu-went-bankrupt-3305620
