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WaMu Shareholders Resources This web site is owned and operated by Daniel Wood, aka testorx (myspace) on the WaMu message boards, and as testorx2 on YouTube.

Not affiliated with WaMu, or JPMorgan Chase, not an organization, just a burned shareholder seeking compensation.

There is a Petition for a Writ of Certiorari of the United States Supreme Court in the case of Thykkuttathil v. U.S. Case No. 2010-5016, which can be joined as an interested party before July 9th 2010 (updated), at WaMu Sleuth. If you must avoid making a small donation you can mail in the form from the "Contact Us" page. This website is being given a certification security error with my windows explorer, but the website is safe and works fine, and links without error from this companion Wamu Sleuth Twitter page.

With deep disappointment I read of WMI’s wish to accept a proposed settlement offered by JPMC and the FDIC on Friday March 12th , 2010. There is no justice in the settlement offered. Settlement must make the shareholders whole as well as all the bond holders. The WaMu bank seizure was a completely avoidable catastrophe, that enriched a few, and greatly impoverished many. The jury trial asked for in U.S. District Court - District of Columbia, case 1:09-cv-00533 - Washington Mutual Inc. et al. v. FDIC, needs to be heard, and a settlement decided by jury.

The current board of WMI by accepting the terms of the proposed settlement has signaled they do not wish to pursue the jury trial. No reason has been given for this decision, but it is possible that WaMu executives are be being let off on things for agreeing to the settlement. The settlement is not in the best interest of WaMu’s investors. Apparently there is a procedure where the shareholders can remove a board of directors. Some members of the Ghost Message Board have started a web site to this end, at WamuEquityRights.org, with which I concur.

My wish is that there be a new board of directors, and that the jury trial be heard.

This site is a resource center for WaMu shareholders (Washington Mutual Inc./ WMI) in the struggle for compensation from the Office of Thrift Supervision (OTS) and the Federal Deposit Insurance Corporation (FDIC) for the seizure and auctioning off of our primary asset, the Washington Mutual Bank, on September 25th 2008. Some of our grievances are that our bank was seized under false pretenses and without due process, or even a full vetting - as there was $4.4 billion dollars of WMI money in accounts that was not even considered. The seizure was done without our management’s knowledge or participation thus depriving us the shareholders of our managements ability to inform, defend or negotiate for us. That the seizure was done to cause us grievous harm, by sabotaging and ruining our own efforts to sell the bank. This was done by informing our most interested buyout customers that the bank would be seized and auctioned off soon, yet before the reason given for the seizure existed. The seizure was timed to deny us of our new CEO Alan Fishman’s experience in merging banks. The seizure was timed to deprive us of any assistance the bailout (EESA 2008) may have provided. That the OTS/FDIC’s actions totally destroyed the value of the stocks and bonds, and that it was all done in bad faith, as the FDIC approached us as wanting to assist in brokering a sale, yet had already privately told our best customers we would be seized and auctioned. Their timing was impeccable towards maximizing damage to us and they instigated large withdrawals from the bank by making statements that they could not and would not pay depositors if WaMu went under. There were approximately 60,000 shareholders and we lost approximately $30 billion dollars.

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