Washington Mutual shareholders approved a $7 billion infusion from TPG and other investors yesterday, thereby blessing — they had little choice — the return of Texas deal maker David Bonderman to the company’s board of directors. The decision came on a day when WaMu stock hit a 16-year low.

Some might call it good timing for Anne V. Farrell, who is leaving the Washington Mutual board of directors because she has reached the mandatory retirement age of 72. Washington Mutual, the embattled Seattle lender, is facing lawsuits, more big lending losses, and is the subject of takeover speculation.