The true story behind the collapse of Washington Mutual

Please have a full investigation of this and other FDIC moves against a couple of other major banks and insitutions as well. Shareholders of so-called failed insitutions deserve some clear explanation for their wiped out equity, especially when there appears to have been behind the scenes efforts and negotiations (as in WAMU's case with JP Morgan Chase) to steal all of its branches and assets without fair payment.

I would think by this time all of us would be used to taking it in the a$$ and would stop complaining. Nothing will come of this just like all the other deals that have been hidden by our Government. If you want to be heard you will have to pull all your money out of the banks and when there is no money there then something will have to be done. This communistic Government will not do anything till their backs are against the wall.

You have to be kidding? The RTC wrapped up around 91-2 and what went on there is still open to debate. You have a better chance of getting a transcript of the 1909 meeting between J.P. Morgan and the rest of the banking community.
Right up there with getting to read the 1815 agreement.
(Trust me, it's real and locked up in the Yale law library).
(It's probably why the U.K. did not take sides in the Civil War)
Pick a better subject, the clandestine stuff is never,never land.

Is it really that hard for you people to come up with your own names for articles or do they all have to be stolen from other people?

http://www.metacafe.com/watch/2028619/the_true_story_of_the_downfall_of_washington_mutual_facts_that_must_be_addressed/

lOOK EVERYONE! JPMorgan tried to fairly buy WaMu in early 2008 ! Does any one remember? They offered a fair purchase for WaMu,but WaMu turned them down .WaMu was already in trouble ,but thought they could pull themselves out . Don't blame JPMC.The FDIC.simply had the keys to let them in.The FDIC knew who wanted this Bank.(FSB.)
Also the rules are slightly different for FSB's ! WAMu was still operating under the old Federal Savings Bank discloser! This give's the FSLIC wich merged into the FDIC.the authority to act upon the Savings and loan Policys,Wich are still in effect as long as WaMu was chartered under the FSB.The FDIC was following suit under the FSLIC.Policys!!!The Share holder's simply should hve nkown what they were getting into ,simply because all the other FSB's have also gone by the way side.Remember the 80's and 90's? The only reason WaMu was largest FSB. that failed,by far was that it was allowed to go on into 2008 as a FSB.Do you home work.FSB were big simply cause they were allowed to operate under mush risker policys.This allowed them to grow fast at a risky pace!!

Wamu TRUTH...

PLEASE READ THESE COURT DOCUMENTS.....

JPMorgan admits that the FDIC took over a solvent bank in one of the latest court documents...

I'm enclosing a few more documents filed through the BK court in regards to a declaration of Thomas M. Blake (http://www.crai.com/ProfessionalStaff/listingdetails.aspx?id=1276 ).

The declaration can be found in 103-4.pdf at http://www.mediafire.com/?sharekey=3b830df9f3d0e6fce7c82ed4b8f0c380aff12395630f22f3ce018c8114394287
Quoting:
12. Based on my review to date, there is no indication that the OTS performed a solvency analysis consistent with the test for insolvency specified in the Bankruptcy Code. There is no indication that the OTS assessed the fair sale-able value of the assets of WMB (or WMI). Nor is there an indication that OTS compared the fair sale-able value of the assets of WMB (or WMI) to the total amount of either company’s respective liabilities. There is no indication that the OTS performed a comprehensive cash flow analysis of WMB (or WMI). Instead, the OTS found that “WMB met the well-capitalized standards through the date of receivership.”8 Thus, without a thorough analysis of the assets, liabilities and capital of WMI and WMB, it is not possible to come to a reliable conclusion concerning the financial solvency of either entity, whether on a consolidated or stand-alone basis.


Here is another document that says as of August 14, 2008:
"We propose to decapitalize WMBfsb by returning $20 billion of capital to its parent. The $20 billion will include the master note of approximately $7 billion, proceeds from $3.5 billion of Discount Notes and cash generated through additional wholesale deposits and advances from FHLB Seattle. We propose the payment of at least $10 billion by September 30, 2008 and the remaining $10 billion through December 2009."

"The net balance sheet of WMBfsb will be approximately $34 billion to $36 billion after Project Fillmore. The leverage ratio will decrease to 25% from 62%. A well-capitalized institution requires an 8% or higher leverage ratio."

Read reference page 45 of DOCUMENT 103-1.pdf from here:
http://www.mediafire.com/?sharekey=3b830df9f3d0e6fce7c82ed4b8f0c380aff12395630f22f3ce018c8114394287

Enclosed is a link to the affidavit of Doreen Logan who is the Controller/ Assistant Treasurer of Wamu who states that there was no liquidity problems;

http://www.google.com/search?hl=en&ie=ISO-8859-1&q=%20Ex.%20D%20to%20Affidavit%20of%20Doreen%20Logan%20%28%201%20/07-3/08%20Account%20Statements%29%20A-46%20...&btnG=Search


Remember, WMBfsb was also taken from the holding company and sold to JMorgan/Chase with all of the other assets for only $1.88bil.....

Please, take some time and read these documents. They are a bit long but well worth the read. Don't you wonder why the main stream media doesn't mention the suppose "failure" of the largest financial institution in America? Wamu was a 100+ year old company.....Here is a link to all documents filed through the BK Court;

http://www.kccllc.net/wamu



Jamie Dimon planted "moles" in Wamu??? JPMorgan committed corporate fraud???

http://www.kccllc.net/documents/0812229/0812229090501000000000002.pdf

Wamu's claims against JPMorgan/Chase;

http://wmish.com/doc/gov/0603/JPM_V_WMI_-_ANSWER.PDF


Debtors seek the Rule 2004 examination of the following Knowledgeable Parties: "

"The Regulators"
FDIC - The Federal Deposit Insurance Corporation, in its capacity as receiver for WMB and in its corporate
capacity,
OTS - Office of Thrift Supervision
OCC - Office of the Comptroller of the Currency
Federal Reserve - Board of Governors of the Federal Reserve System
Treasury Department - U.S. Department of the Treasury
SEC - U.S. Securities and Exchange Commission
Paulson - former U.S. Treasury Secretary Henry M. Paulson, Jr

"The Rating Agencies"
Moody's - Moody's Investors Service
S&P - Standard and Poor's Corporation ("S&P")

"The WaMu Suitors"
Banco Santander - Banco Santander, S.A.
Toronto-Dominion - Toronto-Dominion Bank
TD Bank - TD Bank, N.A.
Wells Fargo - Wells Fargo, N.A.

"The Banks"
FHLB-SF - Federal Home Loan Bank-San Francisco
FHLB- Seattle - Federal Home Loan Bank-Seattle
Goldman Sachs - The Goldman Sachs Group, Inc.

"The JPMC Professionals"
PWC - PricewaterhouseCoopers
Equale - Equale & Associates
Holt - Richard F. Holt
Horne - David Horne, LLC

http://www.kccllc.net/documents/0812229/0812229091214000000000008.pdf

Please read this article;
http://www.portfolio.com/industry-news/banking-finance/2009/12/07/why-federal-regulators-closed-washington-mutual/index.html

http://seattle.bizjournals.com/seattle/stories/2009/12/14/daily18.html

KTS9 Interviews Kirsten Grind "How Washington Mutual Could Have Survived..."
http://www.youtube.com/watch?v=7HW7JjnoqGo

Radio Interview by David Ross;

http://www.youtube.com/watch?v=Zx-BNk4QnTY

http://www.youtube.com/watch?v=Lra79RZztrM

http://wamuequity.org
http://wamuqd.com
http://www.wamu-shareholders-resources.com/wamued.html

http://www.wamucoup.com
http://wamustory.com

I'm also enclosing another link that quotes Judge Hughes from a case against the FDIC that was wrapped up on August 24, 2005; http://blog.kir.com/archives/2005/08/judge_hughes_ha.asp

"The record shows that the swap was the only reason for this suit. It also shows that the FDIC knew that it had no factual or legal basis for its claims, and that its cases here and in Washington were shams."

As usual, Judge Hughes is acerbic in his opinion regarding the FDIC's conduct, noting in particular that FDIC officials "lied about it all under oath" and they "discarded the mantle of the American Republic for the cloak of a secret society of extortionists."

"It's hard to find a word that captures the essence of the FDIC's bringing this action. Irresponsible is close. Arbitrary, dishonest, exploitative, extortionate, and abusive all fit."

Judge Hughes concluded that Hurwitz and Maxxam "will recover their costs because the record reveals corrupt individuals within a corrupt agency with corrupt influences on it, bringing this litigation."

The Biggest Banking Heist in World History: Washington Mutual
http://www.marketoracle.co.uk/index.php?name=News&file=article&sid=13894

Please read this descriptive complaint that was submitted to the SEC from Apex Venture Advisors
Mike Stathis Managing Principal on October 7, 2008 in regards to the manipulation that occurred;

http://www.avaresearch.com/files/20090930175434.pdf