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Kirsten Grind’s The Lost Bank is a magisterial and gripping account of these events, tracing the cultural shifts, the cockamamie financial engineering, and the hubris and avarice that made this incredible story possible. The men and women who become the central players in this tragedy - the regulators and the bankers, the home buyers and the lenders, the number crunchers and the shareholders - are heroes and villains, perpetrators and victims, often switching roles with one another as the drama unfolds.
Written as compellingly as the finest fiction, The Lost Bank makes it clear that the collapse of Washington Mutual was not just the largest bank failure in American history. It is a story of talismanic qualities, reflecting the incredible rise and the precipitous collapse of not only an institution, but of trust, fortunes, and the marketplaces for risk across the world.
About the author: Kirsten Grind has received more than a dozen national awards for her work, including a Pulitzer Prize finalist citation for her work covering the collapse of Washington Mutual. A reporter for the Wall Street Journal, she lives in New York City.
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By Johnnie Walker on 07-24-12
Sad and Angry by Turn
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Wamu was my banks for over 25 years after they acquired a small Washington Savings and Loan where I had my account. I was both stunned and saddened by the demise of the bank. After this reading, I was also very angry. This is the story of how a marginal little financial institution became a good little financial institution became a questionable big financial institution became an evil, out of control institution! This gives great insight into the people behind the bank both honorable and not as well as some great insight into the financial misdeeds that led to our nationwide financial collapse. Strongly recommend the read.
3 of 3 people found this review helpful
By M Kathleen Thorson on 08-09-12
Great Financial Crisis Book
Would you recommend this audiobook to a friend? If so, why?
Not since the Enron books have I listened to such a good book about a corporate culture going from conservative and respectible to gambling and money-only oriented. Great story with good lessons for corporate America.
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2 of 2 people found this review helpful