An Investor Poured $7.2 Billion Into a Bank and Lost Almost All of It in Six Months
In April 2008, private equity firm TPG Capital poured $7.2 billion into Washington Mutual — a massive bet from an investor who understood the bank better than almost anyone. Six months later, the investment had all but evaporated. The story shows why even the most rigorous due diligence offers no immunity to systemic risk.
Think & Rich