Washington Mutual Hobbled By Increasing Defaults on Option ARMs (Bloomberg.com)
Story date: 2008-09-14 09:56:02
Added on: 2008-09-15 00:00:23
Sept. 15 (Bloomberg) -- Washington Mutual Inc. , the thrift that lost 92 percent of market value in the past year, is being dragged down by a mortgage product once hailed by former Chief Executive Officer Kerry Killinger as a boost to profit.
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