Auch von mir ne schöne Zeit und sauf nicht so viel, das könnte die Gaunerbande ausnützen.
"da überlege ich mir glatt, ob ich mich mal deutlicher äussern soll"
Auwei, ist da eine Steigerung noch möglich?
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Auch von mir ne schöne Zeit und sauf nicht so viel, das könnte die Gaunerbande ausnützen.
"da überlege ich mir glatt, ob ich mich mal deutlicher äussern soll"
Auwei, ist da eine Steigerung noch möglich?
http://in.reuters.com/article/2011/06/17/...dic-idUSTRE75G4H620110617
FDIC, WaMu ex-CEO nearing settlement of lawsuit
By Tom Hals and Jonathan Stempel
WILMINGTON, Del./NEW YORK | Sat Jun 18, 2011 12:21am IST
WILMINGTON, Del./NEW YORK (Reuters) - Former Washington Mutual Inc Chief Executive Kerry Killinger and two of his top lieutenants are nearing a settlement with the Federal Deposit Insurance Corp over the failure of what was the largest U.S. savings and loan.
The parties have "exchanged settlement term sheets reflective of a potential settlement" in the civil case, and are "diligently working" to resolve remaining disputes, according to a filing Thursday in federal court in Seattle. An FDIC official said the lawsuit seeks to recover $900 million.
Killinger, former Chief Operating Officer Stephen Rotella and former home lending chief David Schneider were sued on March 16 by the FDIC, in its first lawsuit against officials at a major lender that failed during the financial crisis.
The FDIC accused these executives of gross negligence and reckless disregard for the long-term safety and soundness at the Seattle-based thrift, known as WaMu.
It said they pushed risky home loans to fuel short-term profit and boost their pay, which totaled more than $95 million from 2005 to 2008, while ignoring the basics of proper risk management.
The FDIC also sued Killinger's wife, Linda, saying her husband transferred homes in California and Washington to her to keep them out of the hands of creditors. The agency sued Rotella's wife, Esther, over a separate asset transfer.
Lawyers for the FDIC, Killinger and Schneider were not immediately available for comment. Killinger has called the FDIC allegations baseless. A spokesman for Rotella declined to discuss settlement talks, but said Rotella as chief operating officer took significant steps to shore up WaMu's finances.
Founded in 1889, WaMu is the largest banking failure in U.S. history, with $307 billion of assets, $188 billion of deposits and more than 2,000 branches.
Regulators seized the thrift on September 25, 2008, and JPMorgan Chase & Co bought its banking operations for $1.9 billion. The holding company filed for Chapter 11 bankruptcy protection the next day.
"MYOPIC FOCUS" ON GROWTH
The FDIC said WaMu had $177 billion of home loans on its books when it failed. More than half were home equity loans or option adjustable-rate mortgages, which left many homeowners owing far more than their homes were worth.
According to the complaint, the executives' "fixation on short-term profits fueled a myopic focus" on adding mortgages to the thrift's portfolio, despite their knowledge of signs that the nation's housing bubble might burst.
The FDIC said it had as of June 14 authorized $6.8 billion of lawsuits against 238 former directors and officers at banks and thrifts that failed during the financial crisis.
So far it has filed seven such lawsuits against 52 officials, including from WaMu. One of these lawsuits, concerning the 2009 failure of Illinois' Corn Belt Bank and Trust Co, was settled for $700,000, the FDIC official said.
Killinger and the other defendants had been expected by Friday to ask U.S. District Judge Marsha Pechman to dismiss the FDIC lawsuit.
She granted a two-week extension after the parties agreed it would be "counterproductive" to settlement talks to file such a request now.
The WaMu holding company is battling with creditors over its plan to distribute $7 billion under a reorganization plan. Talks to resolve shareholders' objections recently broke down, people familiar with the matter said.
The case is FDIC v. Killinger et al, U.S. District Court, Western District of Washington, No. 11-00459.
(Reporting by Tom Hals in Wilmington, Delaware and Jonathan Stempel in New York; Additional reporting by Dave Clarke in Washington; Editing by Dave Zimmerman, Steve Orlofsky, Tim Dobbyn and Phil Berlowitz)
Former Washington Mutual Inc. (WAMUQ) Chief Executive Officer Kerry Killinger and Chief Operating Officer Stephen Rotella are in lawsuit settlement talks with the Federal Deposit Insurance Corp., according to a court filing.
Lawyers for Killinger, Rotella and David Schneider, Washington Mutual’s former home-loans president, exchanged term sheets with FDIC attorneys and are “diligently working to resolve their remaining disputes,” according to papers filed yesterday in federal court in Seattle.
“In some instances, the settlement terms must have consent of certain third parties,” lawyers for both sides said.
In September 2008, regulators seized WaMu, once the nation’s biggest savings and loan, and sold it to New York-based JPMorgan Chase & Co. (JPM) for $1.9 billion. The FDIC sued the bank officials in March, claiming they took extreme risks with WaMu’s home-loans portfolio, causing billions of dollars in losses.
Lawyers for both sides asked the court to extend until July 1 the deadline for the former executives to file their initial response to the complaint, which also names Killinger’s and Rotella’s wives as defendants. A final mediation session is scheduled for June 30, according to court papers.
Bank executives blamed Killinger during hearings before the U.S. Senate last year for ineffective management and lax lending standards. Killinger was CEO for 18 years before he was ousted on Sept. 8, 2008. He told senators last year that his company became the largest bank failure in U.S. history in part because it was excluded from a group of financial institutions favored by U.S. policy makers.
Rotella, who blamed Killinger for failing to institute stricter lending controls, said in a letter to friends in March that the FDIC suit was an abuse of power. A copy of the letter was provided in March to Bloomberg News by Rotella’s spokesman, Daniel Hilley.
Hilley declined to comment June 17 on any potential settlement. David Barr, a spokesman for the FDIC in Washington, also declined to comment on a possible settlement.
Steven Caplow, an attorney for Schneider and the Rotellas, didn’t return a phone call and e-mail seeking comment. David Aufhauser, an attorney for the Killingers, also didn’t return a phone call and e-mail seeking comment.
The case is FDIC v. Killinger, 11-00459, U.S. District Court, Western District of Washington (Seattle).
For more, click here.
http://www.bloomberg.com/news/2011-06-20/...perial-in-court-news.html
http://www.finanznachrichten.de/...utual-im-fokus-der-anleger-015.htm
Mit einem Sprung von Platz 4 im Vormonat April meldete sich die Washington Mutual Aktie auf dem ersten Platz aller meist gesuchten Werte auf wallstreet:online zurück. Mit insgesamt 376.649 Aufrufen bedeutet dies eine Steigerung von rund 363 Prozent zum Vormonat. Die Gerüchteküche brodelte und innerhalb weniger Tage legte die Aktie Ende Mai eine dreistellige Performance hin. Nachrichten über die Einigung von Washington Mutual mit den Anteilseignern, die das Ende der Insolvenz einläuten und den Weg einer Neustrukturierung ebenen sollen, ließen Anleger wieder hoffen.
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