WAMU and IndyMac — the perils of accounting control fraud and desupervision
[Skip to the end] Just saw a regulator on TV saying WAMU went down due to ‘liquidity’ as they were running out of funds to give to fleeing depositors. He also said it was not at capital problem, just a liquidity problem. Taking him at his word (just for the purpose of making the following point), this totally [...]
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