Evidence of improper governmental seizure exposed in the Washington Mutual (WAMUQ) bank seizure case

April 3, 2009 - PRLog -- Due to recent actions by the FDIC (Federal Deposit Insurance Corporation) and JPM (JP Morgan Chase), it has become apparent that Washington Mutual Inc. (WMI) will have to fight seemingly endless court battles to get proper compensation for its assets which were illegally seized and virtually given away to JPMorgan Chase (Stock Symbol: JPM). These assets include a number of major items that were sold as property of Washington Mutual Bank (which was “bought” by JPM for $1.9 Billion) and are actually property of the former holding company of the bank. Given its charter, the FDIC has no authority in these matters as its’ concerns with Washington Mutual should have ended immediately after its fire sale of the bank.  Assets which were not part of the bank were sold.  

Due to these reasons, Washington Mutual Inc (Stock Symbols: WAHUQ, WAMPQ, WAMKQ and WAMUQ) has filed suit against the FDIC, and the FDIC is attempting to sway the public through press releases trying to discredit the parent company and muddle the truth. As concerned shareholders of Washington Mutual Inc and American citizens it is clear that the truth behind these actions will not see the light of day unless we speak up.

To combat this, a website has been created by shareholders to provide insight into what has occurred in this case and to provide the general public the facts behind what happened in the seizure and the ensuing months.  This site (www.WamuTruth.com) contains links to official government documents regarding the seizure, as well as other pertinent information regarding the attempts of the several parties to prevent justice from being done.

Through the unprecedented seizure of a solvent and well-capitalized bank and the essential gifting of it to JP Morgan Chase, it is clear that America is reverting to a country with complete disregard for the law and due process. This seizure affected all Americans and precipitated the greatest stock market collapse seen since the Crash of 1929. The information regarding this crash can be viewed at www.WamuTruth.com.

As Thomas Jefferson said, “The natural progress of things is for liberty to yield and government to gain ground.” It is time for Americans to reverse this trend and return our nation to its roots.  It is time for this country to once again become a government "by and for the people" and not a handful of Wall Street bankers and incompetent government agencies.  Getting the truth out about the illegal acts surrounding the seizure of Washington Mutual Bank and its parent company's subsidiaries is where our group intends to start.  Government agencies cannot be permitted to disregard the law and make hasty decisions that adversely affect millions of American citizens.  It is time to learn the facts, and make the government fix what it has bungled. Only once that is done will a true economic recovery occur.

Please view www.wamutruth.com to receive more information