Former executives of Seattle-based Washington Mutual are talking to Congress for the first time since the bank collapsed because of the housing crisis. Today, they responded to a Senate Subcommittee’s findings that WaMu crated a "mortgage time bomb" with subprime loans they knew would go bad but which they packaged into Wall Street securities. Patrick Yoest reports for Down Jones Newswires and the Wall Street Journal.
Former WaMu CEO and Executives Testify before Congress
Credits
Guest:
- Patrick Yoest - Congressional Reporter, Dow Jones Newswires and Wall Street Journal