Kerry Killinger, CEO of WaMu, has joined the former heads of Citigroup, Merrill Lynch, Wachovia and Countrywide in the ranks of the unemployed, the Wall St. Journal reported. In associated news, Seattle-based WaMu stated it had entered into a “memorandum of understanding,” with the Office of Thrift Supervision, essentially putting the lender on probation. Washington Mutual is the fifth-largest provider of banking services to the San Fernando Valley, with 87 branches in the region. The thrift posted a $1 billion loss in the first quarter of 2008 and had non-accrual assets of more than $ 7 billion on the books.
