kirsten grind, the book is "the lost bank." thank you so much for being with us tonight. [applause]

. >> sunday, kirsten grind talks about the largest bank failure in american history, the collapse of washington mutual. part of booktv weekend on the c- span2. >> which is more important, wealth or honor? >> honor. >> it is not, as set by the victors four years ago, the economy, stupid. it is the kind of nation we are, whether we possess the will and determination to deal with questions, including economic questions but certainly not limited to them. all things to not flow from wealth or poverty. i know this firsthand, and so do you. all things flow from doing what is right. [applause] >> look at what has happened. we have the lowest rates of unemployment, inflation, and home mortgages in 28 years. [applause]

how early wednesday negative publicity about kirsten grind and where was that? i assume publicity includes press reports. >> so wamu had kind of a big blowup in 2004 there was similarly heard about, but what happened is they are poor -- he spoke a little bit about how they basically had no infrastructure on 12 different mortgage systems. well, all of that emerged in 2004 when they began basically trying to foreclose on homeowners who would actually pay their mortgage. and the reason they did that is because they literally forgot to tell someone to go up and the security boxes and pick up the homeowners checks. this is how bad it got. all the states started soon and come all the analyst started writing reports and these guys can't run a mortgage operation. this is what in fact finally forced kerry killinger to get a president and officer, which was

booktv, "wall street journal" reporter kirsten grind talks about her book, "the last bank," detailing the collapse of washington mutual in 2008, the largest bank failure in u.s. history. >> so the crisis, they say it happened slowly and then quickly, right? and that was absolutely the case at wamu. it began to get very bad. all of their issues, um, internally, their internal controls had just fallen apart. at one point they were making mortgages on 12 different systems. they had grown so fast that there was just no be -- no control internally. their mortgage division had ballooned out of control, they had this massive trading desk. they had turned into not a mortgage lender as they were only 15 years earlier when lou was there, but almost a mortgage middleman in which they were sucking up mortgages and spitting them out and making a lot of money in between. so all of this -- they had turned into this just as housing prices, which had been going up astronomically every year, began

and sunday afternoon at 4:45, kirsten grind talks about the largest bank failure in u.s. history, the collapse of washington mutual, part of our booktv weekend on c-span2. >> a discussion, now, on education and how to improve american students' competitiveness in a global environment. panelists include governors jack markell of delaware and brian sandoval of nevada who talk about issues including class size, spending, curriculum and the role of the federal government. this forum, held in atlanta, was part of a conference hosted by the education commission of the states. it's just over an hour. [applause] >> thanks, roger. my name's denise, and i am the superintendent of public instruction for the great state of montana. it's my pleasure to introduce the moderator and the panelists for this next session, how can america regain its competitive edge. john merrow is the education

[laughter] >> host: "the lost bank" kirsten grind thank you for being with us tonight. [applause] >> recently booktv was that the books of shaped america at exhibit. we also want to issue an invitation to participate with the on-line discussion. what books you think should be included. we will show you what the library of congress came up with. if you are interested in participating comic e-mail us at booktv@c-span.org. >> in new exhibit at the library of congress called the books that shaped america. we're taking a speeeleven and roberta schaefer is the associate librarian. why isn't books that shaped america? >> first this change america because we think they slowly have an impact and shaped seem to be the better word. >> host: so what book comes to mind? >> that is a fabulous part. no one book is shaping america. and the essence of what america is. it would be impossible and improper to pick one book out of 88. >> host: it starts with common-sense. >> the earliest is ben franklin's book on duchess city. we have to books on common sense. one is from dr. spock raising

and to welcome my friend, kirsten grind, that to seattle again. sorry there is no big bank failure today to cover. >> but lovely weather. >> well i am from phoenix, and the sunny days make me depressed that i will get by with it for now. [laughter] kiersten's book "the lost bank" is a must-read if you want to understand not only what happened to washington mutual which was a huge, for the city, a trauma that continues to reverberate, but has much broader policy implications for what happened in the great recession and help banking contributed to the meltdown. there were times when your book reads like a thriller, but after one of those thriller teases, we don't start out with wire loans and we don't start out with any of the things that one would think. we start out with a guy named luke pepper. why is that? >> well, luke pepper was one of the ceo during the 1980s and i thought it was very important to start out with luke because he represents a time in the banking system that has been lost. he represents a time where banks were much smaller and t

the capital cushion and they needed more money spent watch the entire interview with reporter kirsten grindon the collapse of washington mutual bank tonight at 8 p.m. eastern here on c-span2. >> john kennedy once met with harold macmillan, the british prime minister, and you read the repertoires of the day in newspapers, a discuss arms control or whatever, issues between the two powers, which they sure did. but only long afterwards did we get the notes on what he said exactly to each other in private they could turn a kennedy spent a lot of time complaining about bad press coverage, the press was being tough on jackie and other things. and mcmillan was a generation older said jack, why do you care? brush it off but it doesn't matter if you have other things to worry about. and kennedy quite hilly said, that's easy for you to say, harold. how would you like it to say if your wife passionate if the press edge your wife said she is a drunk. fun things that give you an idea what these people are like but you just can't learn in real time. >> historians and biographers use the vantage of hindsig

public libraries and a reminder of why the comments are so important in to welcome my friend, kirsten grind back to seattle again. sorry there is no big tank failure to cover. >> lovely weather. >> sunny days make me depressed, but i'll get by with this weather. kirsten spoke, "the lost bank" is a great read if you want to understand not only what happened to washington mutual, which is a huge trauma for the city that continues to reverberate, that had much brighter policy implications for what happened in the great recession and how banking contributed to the amount done. there are times when you're agreed psycho thriller. we don't start out with carrie challenger and liar loans and many of and many of and many of didn't. we stared up at the guy named luke pepper. why is that? >> well, luke pepper was the ceo during the 1980s. it is very important to start out with lou because he represents a time in the banking system that has been lost. he represents a time but makes for a much smaller and customer focused and community friendly and wamu was known as a friend of the family as you know. a

kirsten grind, the book is "the lost bank." thank you so much for being with us tonight. [applause] >> ulysses is virtually published between march 1918 in december 1920 in an american periodical called the little review and leave copies of all of those as well. the reason i brought these today's dietitian at the first edition coming ulysses, but of a tradition edition of ulysses that is extremely rare. in 1920 when the american government declared ulysses obscene and and the book was banned. people still wanted to read it, however, and we actually have copies of one of the pirated editions. if you notice the spines, alice in wonderland and the little minister. >> john kennedy once met with harold macmillan british prime minister and with the reportage today newspapers that discuss arms control or whatever and issues between the two powers, which they sure did, but only long afterwards we get the notes on what they said to each other in private turned out to kennedy spent a lot of time complaining about bad press coverage. prices start from jackie and other things to macm

. >> tonight in prime time on booktv, "wall street journal" reporter kirsten grind talks about her book, the lost bank, detailing the collapse of washington mutual in 2008, the largest bank failure in u.s. history. >> so the crisis, they say it happens slowly and then quickly, right? and that was absolutely the case at wamu. it began to get very bad. all of their issues internally, their internal controls had just fallen apart. at one point they were making mortgages on 12 different systems. they had grown so fast that there was just no control internally. their mortgage division had ballooned out of control, they had this massive trading desk. they had turned into not a mortgage leonard as they were only -- lender as they were only 1r5 years earlier when lou was there, b