In an NRO blog post, Krikorian asked if WaMu's diversity policy was "[c]ause" of bank's demise

Summary: In a blog post on National Review Online, Mark Krikorian asked if diversity policies touted by Washington Mutual, which was seized by federal regulators and sold to another bank on September 25, were the "[c]ause" of the bank's collapse.

As Salon.com's Glenn Greenwald noted, in a September 26 blog post on National Review Online's The Corner titled "Cause and Effect?" Mark Krikorian reproduced part of a press release by Washington Mutual bank -- which on September 25 was seized by federal regulators and sold to another bank -- touting its diversity policies and programs. Crediting a blog post by Steve Sailer, Krikorian, executive director of the Center for Immigration Studies, wrote: "I really thought this was a joke, but it's not. WaMu's final press release, before it sank beneath the waves." The release that Krikorian partially reproduced was headlined "WaMu Recognized as Top Diverse Employer--Again" and included the subhead, "Company ranks in top ten of Hispanic Business' Diversity Elite and earns perfect score on the Human Rights Campaign's Corporate Equality Index."

From Krikorian's September 26 blog post:

Cause and Effect? [Mark Krikorian]

I really thought this was a joke, but it's not. WaMu's final press release, before it sank beneath the waves (h/t Sailer):

WaMu Recognized as Top Diverse Employer-Again

Company ranks in top ten of Hispanic Business' Diversity Elite and earns perfect score on the Human Rights Campaign's Corporate Equality Index

SEATTLE, WA (September 24, 2008) - Washington Mutual, Inc. (NYSE:WM), one of the nation's leading banks for consumers and small businesses, has once again been recognized as a top employer by Hispanic Business magazine and the Human Rights Campaign.

Hispanic Business magazine recently ranked WaMu sixth in its annual Diversity Elite list, which names the top 60 companies for Hispanics. The company was honored specifically for its efforts to recruit Hispanic employees, reach out to Hispanic consumers and support Hispanic communities and organizations.

The Human Rights Campaign, the largest national gay, lesbian, bisexual and transgender (GLBT) civil rights organization, also awarded WaMu its second consecutive 100 percent score in the organization's 2009 Corporate Equality Index (CEI), which measures progress in attaining equal rights for GLBT employees and consumers. WaMu joins the ranks of 259 other major U.S. businesses that also received top marks in the annual survey. The CEI rated a total of 583 businesses on GLBT-related policies and practices, including non-discrimination policies and domestic partner benefits.

In both surveys, WaMu earned points for competitive diversity policies and programs, including the recently established Latino, African American and GLBT employee network groups, all of which have a corporate executive sponsor and champion.

"Diversity is an integral part of cultivating a welcoming, innovative and dynamic workplace here at WaMu. We are proud to be recognized for the opportunities and benefits we offer to all of our employees, including the specific efforts we have made to engage Hispanics and the GLBT community," said Steve Rotella, WaMu president and COO. "We are committed to diversity at WaMu and pledge to listen to our customers and work closely with our employees to continue to make progress."

These two recent honors build upon diversity recognitions WaMu received earlier in 2008. WaMu was named one of 25 Noteworthy Companies by Diversity Inc magazine and one of the Top 50 Corporations for Supplier Diversity by Hispanic Enterprise magazine.

—L.Y.