As you may have heard, the FDIC has sued three former Washington Mutual execs, including CEO Kerry Killinger, COO Stephen Rotella, and home loans president David Schneider, whose “extreme and historically unprecedented risks with WaMu’s held-for-investment home loans portfolio” resulted in the bank’s collapse (according to filing, the bank’s chief risk officer told Killinger WaMu’s “DNA” was missing “the risk chromosome,” a few weeks before it went into receivership, to which Killinger likely scoffed and called the guy a pussy). The regulator wants $900 million from the trio and they’re not the only ones Sheila Bair says better start cutting checks- Killinger and Rotella’s special lady friends (Linda and Esther) have been named in the suit as well. Continue reading »