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Interesting timing: Washington Mutual ousts its CEO

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News - Hugh's Views

Written by Hugh McManus

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I received an interesting alert from the Wall Street Journal when I got back from dinner this evening.    It seems that Washington Mutual [NYSE:WM] has decided to oust its CEO, Kerry Killinger.  Here's the message I received: Kerry Killinger, who helped build Washington Mutual into the nation's largest thrift and then presided over its rapid decline, is being ousted as chief executive, making him the latest casualty of the mortgage crisis. Succeeding Killinger will be Alan Fishman, currently chairman of New York commercial mortgage broker Meridian Capital. You can read the WSJ by following this link.   The timing is interesting, because I just posted my thoughts on WaMu at a number of boards including an article on Well Beyond the Pale.  For me, at least, iit's clear that Washington Mutual is at a high risk of being seized by the FDIC. < Prev   Next >