Nothing Is Too Big to Fail: How the Last Financial Crisis Informs Today Kerry and Linda Killinger On the morning of Sept. 25, 2008 — a Thursday — the Federal Deposit Insurance Corp. seized what was then the sixth largest depository institution in the country. The fear that Washington Mutual would collapse under the weight of a run on its deposits was too great, the FDIC believed, to wait until Friday afternoon, when the agency typically takes over a troubled institution. But now there’s a counterargument. Earlier this year, former WaMu chairman and chief executive officer, Kerry Killinger, and his...
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