Herbert Sandler, Lender Who Made Billions in Boom, Dies at 87
- He sold Golden West thrift to Wachovia for $24 billion
- Started the investigative journalism group ProPublica
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Herbert Sandler, the surviving half of a husband-and-wife team who earned billions from lending during the real estate boom and helped popularize an adjustable-rate mortgage blamed in part for the ensuing crash, has died. He was 87.
He died Wednesday at his home in San Francisco, according to his website. No cause was given.