U.S. attorney to investigate WaMu collapse

October 16, 2008 7:43:00 PM PDT
The U.S. Attorney is creating a federal task force to look into what lead up to the collapse of Washington Mutual.

The savings and loan giant declared bankruptcy under a mountain of bad mortgage debts.

Now investigators want to know if any laws were violated.

Possible crimes could include lying to bank examiners, hiding risky assets on their books and misleading borrowers and stockholders.

The task force includes members of the FBI, FDIC, IRS and SEC.


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