The Lost Bank

The Lost Bank chronicles the rise and collapse of Washington Mutual (WaMu), the largest bank failure in American history. This investigative work traces WaMu's transformation from a conservative Seattle-based savings and loan into a major player in the high-risk mortgage lending industry. Through interviews with former employees, executives, and regulators, author Kirsten Grind reconstructs the internal culture and decision-making that shaped WaMu's trajectory. The narrative focuses on key figures including CEO Kerry Killinger and follows the bank's aggressive expansion during the housing bubble of the early 2000s. The book examines the broader context of the 2008 financial crisis while maintaining its focus on WaMu's specific role and fate. Grind's reporting draws from thousands of pages of documents and hundreds of interviews to piece together the complex factors that contributed to the bank's downfall. This account serves as both a cautionary tale about corporate risk-taking and an examination of how institutional culture can drive business decisions. The story of WaMu exemplifies larger themes about regulation, accountability, and the relationship between Wall Street and Main Street banking.

Readers found this detailed account of WashMu's collapse offered clear explanations of complex financial concepts and compelling portraits of key figures involved. Many appreciated how Grind connected personal stories of employees and executives to the larger financial crisis. What readers liked: - In-depth reporting and research - Makes technical banking concepts accessible - Strong narrative flow - Balanced treatment of major players What readers disliked: - Some found early chapters slow - A few wanted more analysis of regulatory failures - Several noted redundant passages Ratings across platforms: Goodreads: 4.1/5 (1,200+ ratings) Amazon: 4.4/5 (180+ ratings) Sample reader comments: "Reads like a thriller while explaining complex banking concepts" - Goodreads reviewer "Best book on the 2008 crisis from a single bank's perspective" - Amazon review "Could have been shorter without losing impact" - Goodreads critic Several readers praised Grind's journalism background in bringing investigative rigor to the story.

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📚 WaMu's collapse in 2008 was the largest bank failure in American history, with $307 billion in assets when it went under. 🏦 Author Kirsten Grind spent five years as a reporter for the Puget Sound Business Journal covering Washington Mutual before, during, and after its demise. 💼 The bank's final CEO, Kerry Killinger, transformed WaMu from a conservative Seattle-based savings and loan into an aggressive national lender that ultimately approved thousands of risky mortgages. 🏆 The Lost Bank won the 2013 Investigative Reporters & Editors Book Award and was named a 2012 Best Business Book by Businessweek. 🏛️ WaMu's roots traced back to 1889, when it was founded to help Seattle rebuild after the Great Fire. The bank survived the Great Depression and numerous economic downturns before its 2008 collapse.