For Immediate Release

Washington Mutual Shareholders, who wish to protect their stock and its value, must act immediately in an attempt to preserve their rights under the law, in the bankruptcy proceedings of WMI.

We need everyone to write letters in support of protecting their shareholder rights.

The form is located on www.wamuequity.org in the link labeled \”ACTION REQ\”. That tab will give you complete instructions on what should be included in your letter and where to send it. You will be able to fill out your form on line, and then print it off. Be sure to sign your name, however, do not print or type it. Please only send it to the PO Box listed on the instructions.

It is absolutely imperative that we show how many people we are by writing these letters. Our goal is 5,000 letters. Please be sure others you know, who also hold Washington Mutual Inc. stock (OTCBulletinBoard: WAMUQ) (PinkSheets: WAMPQ) (PinkSheets: WAMKQ) (PinkSheets: WAHUQ) write letters. This is the only source of power we have at this point, to be represented in the bankruptcy case, the more letters we get, the louder our voices will be. Please mail your letter today.

You will notice many changes at our website. We have changed our webpage hosting service and come up with what we hope will be an easier format for people to follow. It will include the information about the WaMu history of events leading up to and including the seizure and the current information all in the same place. It is still under construction, but please bear with us.

Due to this server change, you must re-register, on the main page and the forum as well. The security on our new system will not allow us to import your information from the old website. We apologize for any inconvenience this may cause. We recommend you create a new password as well.

If you do not register at the forum, then you will not get email updates about how things are progressing. Be sure to register in both places. Nothing is required to register other than an email address where you can be contacted. We hope you find our new site more useful and more \”user friendly\”.

Together, we can effect a change.

Contact Details:
WamuEquity.org
Street: ANDERSON ISLAND
City: ANDERSON ISLAND
State: WA
Zip/Pin Code: 98303
Country: USA

Tel: 360-790-1149
Email: [email protected]
Website: http://www.wamuequity.org/

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For Immediate Release:
The New York Fed has released a report regarding liquidity hoarding which clearly implicates the cause of  the current troubles Americans are having receiving loans with the arbitrary seizure of Washington Mutual Bank in September (Link below).  As more information surfaces every day regarding the players involved in the financial crisis, it is clear that the decisions of regulators served only to worsen it.

As the American economy continues to flounder as a result of the inability for businesses to obtain loans to grow and create new jobs, it has become clear that one of the key factors for a successful recovery is to remedy the unwillingness of large banks such as Bank of America (BAC), Citigroup (C), JPMorgan (JPM), Goldman Sachs (GS), and Wells Fargo (WFC) to lend money to businesses and consumers.

As shown in the graph below from the report, it is clear that upon the seizure of Washington Mutual, interbank lending froze with an unprecedented increase in loan basis points. Simply stated, the banks started hoarding money which immediately transported the financial crisis from Wall Street to Main Street. Without the ability to move and lend money, the economy froze and began an immediate decline which is most clearly evidenced through American’s losses of their jobs and retirement savings.

Through the actions of Sheila Bair, chairman of the FDIC, banks and private investors learned that the federal government could seize an institution which, by the FDIC’s own admission, was well-capitalized through the day of seizure and sell it for pennies on the dollar, wiping out investors.

Every major bank at this point realized that they too could also be seized if they also had a temporary drop in liquidity and immediately stopped lending in an effort to preserve as much cash as possible. Foreign governments, such as China which lend money to the American government and banks, also were affronted by this unheard of action and began efforts to stop storing their capital in the United States thereby destroying one of the main funding mechanisms of American financial institutions.

Although individual stockholders lives were also ruined, their losses pale in comparison to the effect on the United States economy as a whole. It is clear that wrong decisions were made. Someone needs to be held accountable for these actions and a remedy needs to be provided for all of the wronged parties. If the FDIC is responsible for this collapse then it is reasonable to ask if these mistakes could have been avoided. The legislative branch of the US government is making preparations for increasing both the FDIC’s funding and power. Before the keys to the kingdom are handed over it would be prudent to investigate what wrongs have been committed. Only once this is done will economic recovery be possible.
New York Fed Report:
www.newyorkfed.org/research/conference/2009/cblt/interbank_market_HHH_jan09.pdf

About the Organization:
The chief aim of WamuTruth is to explain the implications of the unprecedented Washington Mutual seizure to the media and the general public. More information can be found at our website or www.WamuStory.com

Contacts:
Wamutruth.com
Street: Houston
City: Houston
State: TX
Zip/Pin Code: 77024
Country: USA

Email: [email protected]
: [email protected]
Phone No: 512-809-8556
: 360-790-1149
Website: www.Wamutruth.com
: www.WamuStory.com

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