Washington Mutual's
Crooked CEO Kerry Killinger Fired
September 29. 2008
This is a follow up to my October 2007 article the
Civil Rights Act where I
wrote about the reprehensible bank Washington Mutual.
Washington Mutual has also been on the bottom of
my home page for over a
year, due to the poor manner in which they treated me when I was a customer.
A year on, oh how things have changed. It came as no surprise to me that Washington Mutual
has gone on to become the greatest bank failure in U.S. history this month. A
year ago when I wrote the above mentioned article, their stock stood at $38 per share.
This month, it is trading at $1.90 per share.
One of Washington Mutual's visits to my
websites:
Their standard operating procedure has been gouge the customer and
when you view an opportunity to make big money off unlawful exploitation, seize it, no matter how illegal it may
be and this is why they've toppled in such a massive manner. On Friday, September 26, 2008, Washington Mutual
bank, was seized by
the U.S. government and auctioned off, with JP Morgan buying the bank account
division of the company and its Seattle headquarters for next to nothing. The
bulk of a former $300 billion dollar bank went for $1.9 billion dollars. Washington Mutual filed for Chapter 11 and their tower valued at
$777 million dollars was sold for peanuts to JP Morgan. It's
quite ironic, as Washington Mutual forced many of their customers into filing
bankruptcy and selling off their homes at cheap prices. What goes around
comes around.
Kerry Killinger -Washington Mutual's fired CEO
While many banks suffered losses in the U.S.
economic crisis of 2008, not like Washington Mutual, which was hit hardest, due to being
the dirtiest bank in America, that did things to many consumers it should not
have, on the instructions of its ruthless CEO, Kerry Killinger, who has now been
fired.
He thought he was invincible, but found out the hard way he is not.
People did not even want to help Washington Mutual out of the crisis, due to the
nasty reputation this man developed. That's why it is good to be decent and
humble, as arrogance in dealing with innocent people will filter out to the
public and come back to bite you in the butt when you least expect it.
This man gouged the public at every turn, defrauded people out of their
valuable homes
to boost revenues and as favors to others in the corporate world, destroyed
innocent target's home loans and accounts, touching off acrimonious, lengthy,
expensive legal proceedings, aimed at bankrupting his adversaries and those of
his affiliates.
He also exercised very questionable checking account practices
that saw many customers hit with excessive overdraft fees, when items were
inappropriately held
longer than they should have been by the bank.
A few years ago,
I also wrote
about the story of Colonel Ken Reusser,
who served in three wars for America and was
awarded the Purple Heart five times, but that didn't stop that unpatriotic, ingrate
Killinger from knowingly permitting an unsavory
man to use bad checks to withdraw huge sums of money from the Colonel's $87,000
bank account, leaving him with nothing to pay his mortgage.
Washington Mutual then foreclosed on and seized
Colonel Reusser's desirable $1 million dollar home with many adjoining acres. At
the time, a property like that in Washington could easily be developed and
turned into something far more lucrative, due to the acreage.
Many in the area were outraged, reported on it and took up a donation
for the Colonel, that Washington Mutual via fraud, robbed of his home. It's
amazing, you try to help the country by serving it and some degenerate in a
suit, behind a desk, decides to criminally engage in acts of conspiracy to
illegally rob you of your home.
They utilized fraud of the same ilk against me as
well, however, I was able to quickly sell my home at a big discount, to save
some of the equity and a courthouse ordered foreclosure sale from going on my credit report.
The house never should have been placed in foreclosure, but they did so by fraud
and trickery.
God doesn't sleep, though. There is a God and He doesn't
like injustice. Just look at you now. Fired from Washington Mutual
and sitting around wondering whether or not the Feds are going to force you to
drop the soap and become the girlfriend of some butch dude name Angie, by
sending you to prison.
Judge
Jon Gordon
Even that questionable judge you had rubberstamp the fraudulent foreclosure,
Judge Jon Gordon of Miami, emailed this site last week, requesting I modify something
unflattering, albeit truthful, I
wrote about him, that millions have read online. Are you serious (sarcasm). Look what you've been reduced to - one fired from
the bank, waiting on tenterhooks about felony
charges and the other emailing a website of a former litigant, whose rights and
property he criminally violated, asking that an excoriating article be changed.
How ironic.
Sidebar: what is this, annoy the black girl
month. First the FBI
emails requesting something be taken down from the site, because I lost
faith in their so-called integrity and bashed the L.A. field office as a result.
Then Madonna's former baby daddy/current friend/remixer emails
my MySpace page requesting an add, after she put him up to it,
much like she did with Timbaland. Now, the judge that put me and my
family through a legal nightmare in conjunction with the above mentioned, that
he should be impeached for, emails the site asking that I modify the site to
reflect a kinder opinion of him.
It's clear the
problem is they don't like that many people from all over the
world are reading the websites.
If you don't like what I write, which is legal and Constitutional, get a
lawyer, file a frivolous lawsuit and watch the damning evidence I enter into
court record, regarding why I have written these truthful, unflattering items
about you.
I don't verbally slam innocent people. I'm
complimentary when it comes to decent people.
By God's grace
I have helped many during my lifetime. However, why would I have anything positive to
write about what many in the international community are referring to as "a
cabal" that I saw the worst of humanity out of, whilst they tried to vilely
destroy my life over my copyrighted catalog worth billions, which they criminally accessed and
divided among themselves like common thieves, and in the process deteriorated my
parents health, via them witnessing in distress the wicked things done to their
child.
The nation and the world needs to see how some in
positions of so-called power, abuse innocent citizens in America like me and
Colonel
Reusser,
among many, for financial and social gain, if that's what it takes to cause the
corruption to cease. This corruption, injustice and greed are the very
elements that created the U.S. economic crisis, via citizens being gouged and
abused by corporate America, the Judiciary and the ungrateful Bush
administration, to the point the nation's economy collapsed.
STORY SOURCE
WaMu Boots CEO Kerry Killinger, Shares Decline
September 8, 2008 11:08 a.m. EST - Seattle, WA (AHN) - Shares of Washington Mutual Inc., the country's largest
U.S. savings and loan, decline on Monday after the company announced that it has
sacked Kerry Killinger as chief executive officer. Alan H. Fishman, who has more than 25 years of experience as a senior
executive in banking and financial services, has been appointed chief executive
officer and has joined WaMu's Board of Directors.
Kerry Killinger, who helped build Washington Mutual Inc. into
the nation's largest thrift and then presided over its rapid
decline, is being ousted as chief executive, making him the
latest casualty of the mortgage crisis. For months, Mr. Killinger had fought off a growing chorus of
calls for his removal. Even after Citigroup Inc., Merrill Lynch
& Co. and Wachovia Corp. pushed out their chiefs over
mortgage-related write-downs, and Mr. Killinger disclosed losses
at WaMu of as much as $19 billion, the company's board,
dominated by associates and longtime allies, continued to back
him.
The morning after JPMorgan Chase said it will buy failed
Washington Mutual Inc., some local bank customers said they are
wary about the safety of their money and angry about WaMu's
avarice, which they believe led to the federal seizure and sale. "This was a pretty good company that just got carried away
with greed," said Ballard resident Richard Davidson, 65, after
using an ATM at his local branch. "It's a cryin' damn shame."
Washington Mutual Inc.'s headquarters in downtown Seattle,
the 42-story WaMu Center completed in 2006, was sold to JPMorgan
Chase & Co. as part of its takeover of the thrift's assets.
"They bought the tower for nothing,"
said Stuart Williams, a
principal at Pacific Real Estate Partners Inc., a commercial
broker with an office in Seattle. JPMorgan spokesman Joseph
Evangelisti confirmed the New York-based bank now owns the
building.
Tom Kelly, another JPMorgan spokesman, said it's too soon to
say whether the building's name will be changed. WaMu Center may be worth about $600 a square foot, according
to Tom Craig, a commercial real estate broker in Seattle. That
would value the building at $777 million, based on its net 1.3
million square feet.
A:Continue to make payments on any obligation, including a
mortgage, and wait for any correspondence from the company
notifying you of any changes to the way in which you may
transmit your payment. The terms of your loan, including your
monthly payment, will not be changing.
WASHINGTON MUTUAL, INC.
announced today that it has, together with its wholly-owned
subsidiary, WMI Investment Corp., commenced voluntary cases
under chapter 11 of the United States Bankruptcy Code in the
United States Bankruptcy Court for the District of Delaware. The
chapter 11 filings were a result of the appointment, by the
Office of Thrift Supervision, of the Federal Deposit Insurance
Company as receiver of Washington Mutual Bank, Washington
Mutual, Inc.'s banking subsidiary on September 25, 2008.
Washington Mutual shareholders — including Texas private
equity firm TPG, which led a $7 billion cash infusion for WaMu —
were essentially wiped out as a result of this week’s events.
The company’s shares were down to 16 cents in Friday trading, a
stunning descent from WaMu’s 52-week high of $36.47. “In this case the shareholders got zero. It’s ugly,” says Bob
Rogowski, banking analyst and managing director of McAdams
Wright Ragen Inc. in Seattle.
IN THE biggest bank failure in United States history,
Washington Mutual Inc has collapsed under the weight of its
enormous bad bets on the mortgage market. The Federal Deposit Insurance Corporation (FDIC) seized WaMu
on Friday and sold its banking assets to JPMorgan Chase & Co for
$US1.9 billion ($2.28 billion).
Founded in 1889, Seattle-based WaMu's $US307 billion in
assets eclipse those of Continental Illinois National Bank,
which failed in 1984 with $US40 billion in assets. IndyMac,
seized in July, had $US32 billion in assets. The sale of WaMu's assets to JPMorgan Chase prevents its
collapse from depleting the FDIC's insurance fund. That detail
is likely to give only marginal solace to Americans facing
tighter lending and watching their stock portfolios plunge in
the wake of the nation's most momentous financial crisis since
the Great Depression.
WASHINGTON: The CEO of failed Washington Mutual Inc., on the
job only a few weeks before the largest U.S. thrift was seized
by the government and sold to JPMorgan Chase & Co., is entitled
to more than $13 million in severance and bonus pay. Alan H. Fishman signed an agreement that provides around $6
million in cash severance and retention of his signing bonus of
$7.5 million if he were to leave his job, according to a company
filing with the Securities and Exchange Commission.
Largest U.S. bank failure; assets sold to JP Morgan
...The bailout came after the thrift suffered deposit outflows
of US$16.7-billion since September 15, the OTS said. "With insufficient liquidity to meet its obligations, WaMu
was in an unsafe and unsound condition to transact business,"
the OTS said. Seattle-based Washington Mutual has about US$307-billion of
assets and US$188 billion of deposits, regulators said. The
nation's largest previous banking failure was Continental
Illinois National Bank & Trust, which had US$40-billion of
assets when it collapsed in 1984.
The Federal Deposit Insurance Corp. seized WaMu on Thursday, and
then sold the thrift's banking assets to JPMorgan Chase & Co.
for $1.9 billion. Seattle-based WaMu, which was founded in 1889, is the largest
bank to fail by far in the country's history. Its $307 billion
in assets eclipse the $40 billion of Continental Illinois
National Bank, which failed in 1984, and the $32 billion of
IndyMac, which the government seized in July.
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