Entries tagged "Washington Mutual Corp."
The global credit crisis has forced many financial institutions to turn to a new breed of CEO, the "hired gun." The mess many of these companies have gotten themselves into, however, has become just too big for any CEO to dig out of, resulting in stints that are growing ever shorter as companies either fail or sell. ...
Since the beginning of the credit crisis, J.P. Morgan Chase & Co. has been like a bride-to-be at the Filene's Basement Bridal Gown Sale grabbing anything that looks good. First it was Bear Stearns Cos. in March, and now Washington Mutual Inc. Both were snagged at steep discounts, and with the government's blessing. Most experts agree the unions, which will help it vault past Citigroup Inc. to become the second-largest bank, will pay off for the New York-based firm down the road. So, how was J.P. Morgan able to make these transformative marriages possible? ...
