Posted Online AOL finance 2/20/2009 with other Headline News for WAMUQ....getting press.....good job to author of this release...
Washington Mutual Shareholders Unite For Equity Committee
2009-02-20 19:29:04 - Shareholders of Washington Mutual Inc.
(currently in Ch11) have united to form the Washington Mutual Equity
Group (www.WaMuEquity.org). Their goal is to ensure that maximum value
of the estate is preserved, that shareholder interests are addressed and
to obtain legal representation in the bankruptcy proceedings.
Seattle, Wa. 13 February 2009. While they
acknowledge that several leading law firms are litigating this matter,
they feel there is no representation focused on the actual owners of
Washington Mutual Inc. -- the shareholders, and that they can provide
valuable input to the proceedings.
One of their concerns is why a $4 Billion cash deposit has remained in a
checking account at JP Morgan for
4 months without adding interest
income to the estate.
A concurrent goal of www.wamuequity.org is to demand a Congressional
Hearing focusing on the circumstances surrounding the seizure of
Washington Mutual Bank. Stockholders claim there are enough questionable
circumstances surrounding the seizure and the sale of the bank to
warrant a complete investigation. Just as Madoff investors are victims
of alleged fraud, Washington Mutual investors feel they are victims of
the inept actions of several regulating bodies, in short, they feel they
are victims of their own government.
There are complex issues involving the FDIC, the OTS, the SEC, JP
Morgan, Goldman Sachs, illegal stock trading, claims of many years of
back taxes, and other banking
issues that members of WaMu Equity Group
feel should be investigated with full transparency.
WaMu stockholders are urged to join the group at www.wamuequity.org.
The site encourages registration of types and amounts of stock currently
owned, offers a wide variety of information and collaboration with other
stockholders. Share registration is at no cost, and privacy is assured.
Thanks Lawrence, Zardiw and I wrote that together...I'm glad to see it finally is out there. In addition to the PR Newswire release, we manually sent it to many newspapers throughout the country. I have not seen anyone pick up the story yet from those press releases. If anyone does note any newspapers picking up the story, please let us know.
thanks again to you wldgrdnr and zar for efforts.....Hoping others will pick the story up.....I am also fwding it to Congressional leaders/FDIC/OTS/OTC and U.S. Atty's taskforce/Seattle PI and Seattle Times....
But I believe there is a concerted effort on parts of the big national media/TV whether it is pressure from govt or not I do not know....but because every time a see a story on TV about the banking/financial crisis they always refer back to Bear Stearns and Lehamn but seem to have nothing to say about WaMu like we never existed......This could be a sign though that govt has prompted not to mention WaMu as they still dont know what will be the final results of their errors.....
All in all good job on you guys part...