Washington Mutual's CEO Ousted

After 18 years at the head of Washington Mutual, CEO Kerry Killinger is out. Regulators have put the nation's largest thrift on probation.

Killinger, who took the company's helm 18 years ago, turned the small Seattle thrift into a financial powerhouse before being undone by the sharp downturn in the housing market.

New CEO Alan Fishman will have his hands full as he tries to accomplish a turnaround.

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