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David Dreman : WaMu CEO Made Big Mistakes
By admin - Posted on December 14th, 2007
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Washington Mutual Chief Executive Kerry Killinger has made some big mistakes and ranks among the major executives who have mismanaged their companiesHe's up there with the senior executives who steered these major institutions the wrong way," said David Dreman, chairman and chief investment officer of Dreman Value Management LLC.
"He's made some pretty big mistakes," Dreman said in a telephone interview. "He's been very good at building the company, but he's been very bad at some of his decisions."
Dreman, who said he is holding onto his stake in WaMu, said the bank was likely to ride out the storm from subprime lending because of its significant earnings from a strong banking franchise, one of the largest in the United States.
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