Chase tries to dismiss a class action

With all the information flowing around about the out and out fraud practiced by WaMu in their culture of deceit trying to sell as many crappy home loans as possible, I find it funny that WaMu/Chase claims in response to a class action filed against them that they are not liable just because they “failed to predict the severity of the housing crash and the impact it would have on WaMu.” Oh please. That is like saying that builders of houses of cards can’t be blamed for failing to predict a slight breeze. The problems with WaMu started at the top and the former executives and directors personal gains from WaMu should be fair game for those who lost money.

Update 4/7/09: The courts today halted a class-action lawsuit started back in 2005 against Washington Mutual on the grounds that claims against the bank are better directed to the FDIC as the receiver of WaMu since it was seized last year. (article) Is the mortgage-fraud related class-action discussed here next to be halted?

No Comments

No comments yet.

RSS feed for comments on this post. TrackBack URI

Leave a comment

WordPress Themes