Senate Report to Show How WaMu Became a Financial "Polluter"
May.01, 2010 in
Toxic Asset News
The company decided in 2003 to move aggressively into subprime lending to bolster earnings, ultimately producing $77 billion in mortgage-backed securities. The company changed pay practices to prize quantity over quality. And it “built a conveyor belt to dump toxic mortgage assets into the financial system like a polluter dumping toxic substances

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