Washington Mutual

September 25, 2008 -- IL - Below is a Statement from Senator Barack Obama on Washington Mutual

"The government-brokered sale of Washington Mutual is the latest sign of the perilous situation facing our financial system and our economy. Although Americans with deposits at Washington Mutual should rest assured that they are safe under this arrangement, the failures of our financial institutions threaten economic instability, jobs, and the incomes of American families.

This is a time to rise above politics for the good of the country. We cannot risk an economic catastrophe. This is not a Democratic problem or a Republican problem - this is an American problem. Now, we must find an American solution," said Senator Barack Obama.

Source: Senator Barack Obama

Washington Mutual (WaMu) Demanded Appraisers Who Inflated Property Values; Internal E-Mails Show eAppraiseIT Executives Knew Their Scheme Was Illegal: “We have agreed to roll over and just do it”

NEW YORK, NY (November 1, 2007) – New York Attorney General Andrew M. Cuomo today announced that he is suing one of the nation’s largest real estate appraisal management companies and its parent corporation for colluding with the largest savings and loan in the country to inflate the appraisal values of homes.    » read more »