Someone in Florida had made a second-mortgage loan to O.J. Simpson, and I just about blew my top, because there was this huge judgment against him from his wife's parents
I don't think Killinger intentionally set out to cut corners ... But he certainly created an atmosphere in which doing the easy thing rather than the hard thing was OK.
Given recent production and interest rate trends ... negative amortization is a major and growing risk factor in our portfolio.
There was a class of willing buyers for these out there who wanted more risk.
Kerry's view of himself was tied to a constant increase in the stock price ... He was fixated on it.
I'd take the files over to the processing center in Bellevue and they'd tell me 'Nancy, why do you have all this stuff in here? We're just going to take this stuff and throw it out,'
He could look at a financial statement and get to the heart of what was going on in a nanosecond ... But he could not have run a coffee stand. I just don't think his mind works that way.
Washington Mutual chose its destiny, to be right smack dab in the middle to the hilt.
When I asked how we could possibly foreclose on it, they said there was a letter in the file from O.J. Simpson saying 'the judgment is no good, because I didn't do it.'
This frankly may be one of the best times I have ever seen for taking on new loans into our portfolio
He's a cockeyed optimist to the nth degree ... He always thought he could get out of whatever trouble he was in.