At its height, Washington Mutual was the largest savings and loan in the country, but after a massive bank run during the crisis of ’08, it was bought by Chase for less than a penny on the dollar. Kirsten Grind documents the bank’s rise and fall in her new book, The Lost Bank: The Story of Washington Mutual-The Biggest Bank Failure in American History. We talk about the culture at WaMu that hastened its collapse, the controversial sale of the bank to Jamie Dimon, the repeal of Glass-Steagall, why regulators suck, and more.
Executive Producer: Andy Walters
Producer: Rich Lowenberg
Photos: Hadjar Homaei