The Downfall of Washington Mutual
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Case Code: BSTR328 Case Length: 17 Pages Period: 2006-2008 Pub Date: 2009 Teaching Note: Not Available |
Price: Rs.300 Organization: Washington Mutual Inc. Industry: Banking & Financial Services Countries: USA Themes: Failure of Strategy, Bankruptcy |
Abstract Case Intro 1 Case Intro 2 Excerpts
Excerpts
Decline and Fall
Starting from 2006, WaMu Bank began altering its business strategy in response to the crumbling housing and market conditions (Refer to Exhibit II to learn more about the sub-prime crisis)...
Reasons for the Fall
Several reasons were put forward for the failure of WaMu Bank. Along with unrestrained expansion, many analysts blamed the leadership style of Killinger, wherein he tended to ignore warning signals and placed unrealistic business targets, for the fall of WaMu Bank...
After The Fall
There was intense public interest in the failure of WaMu, with the FDIC coming in for criticism from WaMu's shareholders who claimed that the seizure was unjustified...
Exhibits
Exhibit I: Ten Biggest Bank Failures in US Financial History
Exhibit II: About the U.S Subprime Crisis
Exhibit III: About Option Arms
Exhibit IV: Trends in Wamu's Share Price
Exhibit V: Wamu's Earnings (in Millions): 2007-2008
Exhibit VI: Wamu's Loan Loss Provisioning: 2007 - 2008
Exhibit VII: Washington Mutual Inc.: Acquisitions Between 1990 and 2006
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