WaMu and MPs expenses

In the UK, we've been talking for a while about the issues with our politician's expenses being blanked out. 

See:

 

It's downright disgraceful.  Hiding secret purchases including porn movies and duck houses, how are we ever to trust our leadership again?

It's so refreshing to see how America does things so differently with the release this week of the  internal communications between Washington Mutual's (WaMu) regulators, the Office of Thrift Supervision (OTS), that led to the closure of WaMu.

Of particular interest were the communications that might explain why regulators seized the bank in September 2008, even though WaMu appeared to meet regulatory standards for operating a bank, notwithstanding its burden of bad loans.

Here is an example of a few of those emails:

 

 

 

Thanks to the Puget Sound for championing the cause.
 

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