2003: When I left an even bigger bank to work for Washington Mutual, insider friends said to me, "Welcome to the last big bank that isn't evil."
2005: My division of WaMu ceased to exist; the resources were cannibalized to support WaMu's decision to go all-in on the sub-prime lending market.
2008: WaMu no longer existed.
2010: Today's Calculated Risk's overview of the Senate hearings on WaMu's failure, scheduled to begin tomorrow morning, prominently features the phrase "executives knowingly created 'a mortgage time bomb.'"
Also: "Regulators failed for years to properly supervise the giant savings and loan Washington Mutual"
And: "rewarding loan officers and processors based on how many mortgages they could churn out"
The bigger bank I left for WaMu in 2003 didn't get on the sub-prime bandwagon. It's still out there.