CRIMINALITY is harder to prove than bad business judgment. That was the meaning we took from the announcement Aug. 5 by U.S. Attorney Jenny Durkan that the investigation of Washington Mutual was ended, with no federal criminal charges filed against the executives who ran it into the ditch.

Her decision was a disappointment. When a handful of businessmen make decisions that wipe out a century-old institution, trashing assets and careers, people want the doers held accountable. People want them to pay. If these executives had collected millions of dollars from the same institution before they wrecked it, people want them not to enjoy that money.

Criminal law, however, requires specific deeds and motives, and proof "beyond a reasonable doubt." That was absent — at least, seven federal agencies working together could not find it.

Investors had a civil lawsuit against WaMu's executives, its outside auditors and its security underwriters. The case was settled — but the executives' share, $105 million, will be paid by their insurance company.

That is not a satisfying result. The point was that executives pay, not that shareholders receive. Anyway, shareholders will not receive much. Each ordinary share once worth more than $40 should be good for a claim of no more than a few cents.

The lawsuit left standing is by the Federal Deposit Insurance Corp., which guaranteed the depositors' money. Earlier this year, the FDIC filed a civil case against Kerry Killinger, WaMu's CEO; Stephen Rotella, the chief operating officer; and David Schneider, who was president of WaMu's home-loans division.

The FDIC's case alleged gross negligence. It targets these men's (and in Killinger's and Rotella's cases, their wives') personal money, including the value of real estate. The lawsuit does not claim a specific amount, but it says that from 2005 to 2008, Killinger was paid $65.9 million, Rotella was paid $23.4 million and Schneider was paid $5.9 million.

We hope the FDIC pursues its case vigorously and that the court makes the executives involved pay some of their own money.

Somebody somewhere in the American banking industry has to be held accountable.