Overview

An award-winning reporter chronicles the calamitous story of Washington Mutual, the single-largest bank failure in American history, in this fast-paced, compelling, and gripping saga of greed and excess. During the most dizzying days of the financial crisis, Washington Mutual, a bank with hundreds of billions of dollars in its coffers, suffered a crip­pling bank run. The story of its final, brutal collapse in the autumn of 2008, and its controversial sale to JPMorgan Chase, is an astonishing account of how one bank lost itself to greed and mismanagement, and how the entire financial industry—even the entire country—lost its way as well. Written as compellingly as the finest fiction, The Lost Bank introduces readers to the regulators and the bankers, the home buyers and the lenders who together created the largest bank failure in American history. The result is a magisterial and gripping account of the incredible rise and the precipitous collapse of not only an institution but of trust, fortunes, and the marketplaces for risk across the world.

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9781451617931

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Reviews

Journalist Kirsten Grind has written a first-rate accounting of the spectacular collapse of Washington Mutual and how behemoth JPMorgan Chase picked over its carcass. Thanks to Grind's winning narrative, what was previously one of the less-well knownfinancial disasters of September 2008 is now fully--and entertainingly--explicated. --William D. Cohan, author of Money and Power and House of Cards

An eye-opening book. --Booklist

Wall Street Journal reporter Kirsten Grind deftly restores the 'lost bank' to its rightful place in the annals of financial disasters... The clarity and humility of the writing is refreshing. Tom Braithwaite, The Financial Times

In The Lost Bank , Grind achieves the best of the business journalist's calling, not only reporting the WaMu disaster in clear, compelling prose for the general reader, but also offering new information and details that may surprise those who think they know the story... [A] sparkling achievement. --Jon Talton The Seattle Times

Author Information

Kirsten Grind is an enterprise reporter for The Wall Street Journal, where she has worked since 2012. She has received more than a dozen national awards for her work, including a Pulitzer Prize finalist citation and a Loeb Award. Her first book, The Lost Bank, was named the best investigative book of 2012 by the Investigative Reporters & Editors association, and is coauthor of Happy at Any Cost. She lives in the San Francisco Bay Area.

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