Kerry Killinger got the foot

A consumer and small business banking company, has dismissed its CEO Kerry Killinger amid increasing concerns over the mortgage crisis, according to a report by the Wall Street Journal.

Washington Mutual Inc., ravaged by losses from sour mortgages, replaced Kerry Killinger as chief executive of the nation’s largest savings and loan on Monday, adding him to the growing list of banking bosses ousted by their boards.

Luckily, Washington Mutual CEO Kerry Killinger is there to fill the space. Washington Mutual altered employment agreements with Chief Executive Officer Kerry Killinger and Chief Operating Officer Stephen Rotella governing what they’ll be paid if they leave or if the lender changes hands.

For all of those people who are pissed at WAMU and Kerry Killinger, feel free to email the rat bastard at kerry.killinger@wamu.net and let him know how you feel.

Luckily, Washington Mutual CEO Kerry Killinger is there to fill the space. Killinger”s doing such a horrible job, Cramer said, you”d think he is intentionally trying to destroy the company.

Washington Mutual Inc. replaced Kerry Killinger as chief executive of the nation’s largest savings and loan on Monday, adding him to the growing list of banking bosses ousted by their boards. Its shares fell almost 12 percent.

With Kerry Killinger losing his dual role, the board he dominated will closely judge how well he confronts the company’s woes.

Kerry K Killinger is an American businessman and the former chairman and former chief executive officer of Washington Mutual.

Killinger, chairman and chief executive of Washington Mutual Inc. The venerable Seattle banking giant, staggering under billions of dollars’ worth of soured home loans, said Monday that Kerry Killinger’s 17-year reign as board chairman will end next month.

Killinger married Linda Cottington in 2001. He began his career in the financial services industry in 1972, as an investment analyst with Bankers Life Insurance Company of Nebraska, and moved on to Murphey Favre in the 1976, at which he was a securities analyst and eventually a vice president.

Replacing Killinger in the chairman’s seat will be Stephen Frank, the former head of utility company Southern California Edison, a WaMu director since 1997 and the board’s lead independent director.

The lousy mortgage market that Washington Mutual is so overexposed to is just going to get worse, according to Cramer. That would be the perfect chance for Killinger to announce his retirement, Cramer said.