The Lost Bank: The Story of Washington Mutual-The Biggest Bank Failure in American History

Kirsten Grind

qer 2012 · Shitur nga Simon and Schuster

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An award-winning reporter chronicles the calamitous story of Washington Mutual, the single-largest bank failure in American history, in this fast-paced, compelling, and gripping saga of greed and excess.

During the most dizzying days of the financial crisis, Washington Mutual, a bank with hundreds of billions of dollars in its coffers, suffered a crip­pling bank run. The story of its final, brutal collapse in the autumn of 2008, and its controversial sale to JPMorgan Chase, is an astonishing account of how one bank lost itself to greed and mismanagement, and how the entire financial industry—even the entire country—lost its way as well.

Written as compellingly as the finest fiction, The Lost Bank introduces readers to the regulators and the bankers, the home buyers and the lenders who together created the largest bank failure in American history. The result is a magisterial and gripping account of the incredible rise and the precipitous collapse of not only an institution but of trust, fortunes, and the marketplaces for risk across the world.

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Kirsten Grind is an enterprise reporter for The Wall Street Journal, where she has worked since 2012. She has received more than a dozen national awards for her work, including a Pulitzer Prize finalist citation and a Loeb Award. Her first book, The Lost Bank, was named the best investigative book of 2012 by the Investigative Reporters & Editors association, and is coauthor of Happy at Any Cost. She lives in the San Francisco Bay Area.