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Monday, September 29, 2008

What Caused WaMu’s Collapse?

posted by on September 29 at 10:24 AM

It wasn’t bad loans, deregulation, poor management, or the credit crisis. It was WaMu’s commitment to a diverse workforce. So here’s hoping all the folks that pulled their money out of WaMu in the weeks leading up to the collapse put their money in safe racist, sexist, homophobic banks.

Via Queerty.

RSS icon Comments

1

Yes, hiring competent people instead of "diverse" people would be every shade of bigotry. Hiring people because they're "diverse" isn't bigoted at all.

Earlier this morning I had to wait for three elevators because every opportunity I had was all white. Finally, this black dude showed up. It was a diverse ride.

Posted by Mr. Poe | September 29, 2008 10:32 AM
2

this is a fascinating look into the right-wing mindset about the financial collapse. so, the spin is: it's all the fault of pandering to minorities.

so, hiring minorities means throwing your business in the tiolet. lending sub-prime means lending to sub-humans. got it. *shudder*

Posted by ellarosa | September 29, 2008 10:35 AM
3

Jesus, reading the comments for that article was incredible. Look how many of them are about the "racist" ad campaign where the smart-alec black man mocks a group of old white men. Wish I were kidding.

Posted by Jody | September 29, 2008 10:37 AM
4

Why would you post that Dan? That was terrible.

Posted by Fly-Over Illinois | September 29, 2008 10:40 AM
5

I just came here to express amazement for the same thing Jody just said. These comments are incredible.

Posted by smalls | September 29, 2008 10:40 AM
6

As always the statement says more about the person who made it than anything about the issue. In every crisis there is a myriad of factors involved, but these guys happen to point to the one thing that furthers their own prejudices. Idiots.

Posted by D. | September 29, 2008 10:41 AM
7

@1 The problem with folks like this, Poe, is that there's an implicit assumption that any hire of a "diverse" (aka non-straight, white male) person is by default a bad decision. That's bullshit.

Discriminating against non-"diverse" prospective employees is, I agree, wrongheaded. However, there's nothing wrong with recruiting to attract QUALIFIED employement candidates from "diverse" backgrounds.

Posted by Hernandez | September 29, 2008 10:43 AM
8

God, what a bunch of idiots.

Posted by Bellevue Ave | September 29, 2008 10:49 AM
9

What kills me is the use of that word, "diverse." Nobody gives a fuck about true diversity. What they mean is race - black and hispanic, in particular. It wouldn't bother me if employers were at least just honest about it.

Posted by tranny | September 29, 2008 10:54 AM
10

Our server at work won't let me read it. It said something about hate speech.

Posted by Chris | September 29, 2008 10:56 AM
11

@10 American Renaissance is a hate site

Posted by vooodooo84 | September 29, 2008 11:00 AM
12

I'm dousing my eyeballs with gasoline to get that website off of them.

Posted by itsmarkmitchell | September 29, 2008 11:00 AM
13

I couldn't force myself to get all the way through that. At some point did they explain that hiring non-Jews in the banking industry was the real problem?

Posted by Tiktok | September 29, 2008 11:03 AM
14

Bigots will go to any length and tell any numer of lies to justify their opinions.

Posted by inkweary | September 29, 2008 11:24 AM
15

The comments that this post links to are enlightening. I hadn't realized that Diversity was so entirely to blame for the collapse of WAMU and indeed the entire worldwide financial market.

And looking at the sea of white faces that is/was the WAMU management team I can see why diversity would be the number one suspect (https://www.wamu.com/about/corporateprofile/executivesandmanagement/default.asp).

Iíll be damned if there isnít a white woman on the senior executive team! She must have used her irrational capitalism-hating feminine wiles on the entire company to steer it into this industry and world-spanning crisis. And isnít that just like a woman?

And if itís not her fault, then it must have been all those brown, black, and yellow employees with their plum low paying, zero strategic influence jobs. They obviously hatched this plan to screw whitey in-between saving for a mortgage deposit and donating blood to pay for gas so they could afford to get to work. Quite a feat considering that not a single one of their hue is on the companyís senior management team.

Or it could have been all those swish men and butch women with their second-class relationships and deviant financial ways. They hate marriage and children and puppies and civilization so much that they wouldnít blink at destroying our financial system after their disco nap.

Thank god that through all the noisome claims of grasping avarice and vile corruption in the financial elite, some of us can still see the truth.

That itís the powerful non-white non-straight people who are to blame for this whole financial mess.

Posted by The Gay Curmudgeon | September 29, 2008 11:30 AM
16
Posted by The Gay Curmudgeon | September 29, 2008 11:46 AM
17

After reading that article it has become clear that the stock market crash and Great Depression were casued by giving women the vote.

Sheesh

Posted by liz | September 29, 2008 10:58 PM

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