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Wednesday, April 14, 2010 - Page updated at 04:03 p.m.

Rewind | Live Blog: U.S. Senate panel spotlights WaMu

Seattle Times deputy business editor Rami Grunbaum live blogged the U.S. Senate panel hearing where former WaMu executives explained their role in the bank's collapse.

Watch a video recap of the hearing, and take a look at all 86 exhibits used by the panel (PDF).

First Panel

James Vanasek

Joined WaMu in 1999 as chief credit risk officer; named chief enterprise risk officer in 2004. He was responsible for enforcing the bank's standards and procedures for not taking on too much risk; reportedly unhappy at WaMu's decision to make riskier loans. Retired in late 2005.

Read Vanasek's prepared statements.

Ronald Cathcart

Succeeded Vanasek in 2005 as executive vice president and chief enterprise risk officer, with same responsibilities. Left WaMu in April 2008.

Read Cathcart's prepared statements.

Randy Melby

Senior vice president and general auditor for WaMu from 2004; stayed with JPMorgan Chase until November 2009. Reported to board of directors, rather than management. Led the audit team that checked whether WaMu's business units were following its rules. Now executive vice president and chief risk officer at BankUnited in Florida.

Read Melby's prepared statements.

Second Panel

David Schneider

Joined WaMu in July 2005 as president of home loans; oversaw much of WaMu's expansion into subprime lending, option ARMs and other high-risk mortgages. Currently head of mortgage servicing at JPMorgan Chase.

Read Schneider's prepared statements.

David Beck

Joined WaMu in April 2003 as chief investment officer; promoted to head of capital markets group in March 2004. Led the team that bundled WaMu mortgages into securities and sold them to investors.

Read Beck's prepared statements.

Third Panel

Stephen Rotella

Joined WaMu in 2005 as president and chief operating officer, the company's second-highest executive position. Also ran WaMu's retail banking business from June 2008 until the bank was closed that September.

Read Rotella's prepared statements.

Kerry Killinger

WaMu's chief executive from 1990 to September 2008; chairman from 1991 to June 2008. Built the company from a regional thrift into a national powerhouse.

Read Killinger's prepared statements.


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