The core of Washington Mutual, has been gutted and resides in the grip of JPMorgan Chase.
WaMu has been reduced to a holding company for liquidation of assets to pay back creditors.

The Bank failed, the government took possession and sold it's banking assets for 1.9 billion dollars.

The investors are shit out of luck, including the TPG group that plunked down 7 billion and change to turn things around, just before the collapse.

Thousands lost their jobs.

Seattle lost one of its instituitions.

And on and on and on....


As we originally intended, in our past incarnations of what SSF might become, to make WaMu our funding partner......prior to the unmasking of this global financial mess, starting some time in the early months of 08'......we are not going to abandon WaMu now, just because things have gotten more complicated.


WaMu is to become C-Systems' bank, fully reconstituted, as a semi-independent subsidiary.

WaMu Holding Company and Washington Mutual Incorporated will be aqcuired, as will most if not all sold off elements (to pay creditors).

All outstanding debts that are remnant in the husk of WaMu will be covered completely...with the sale of futures notes.

Employees that have not been fired do to misconduct or criminality will be welcomed back and guaranteed 6 months of work....a chance to prove their value...and to evaluate what types of work they are most effective at, and the best match for.

Rather than being fired, as is customary, most who are not well suited for what work is available or have become redundant in the new order, will be given the option to create their own work, or pursue options within C-Systems and its many projects for personal and professional fulfillment.   
If a person has the qualities and interests desired as demonstrated during the 6 month review, they will have jobs somewhere in C-Systems, UW Cola, Seattle Summer Festival, Seattle Commonwealth, Commonwealth for Human Ideals, or one of the countless shared-profit companies that we will generate over the next 18 months.
We will even help them get jobs with someone else, if that is desired.

JPMorgan is sure to want to keep their new acquisition, but that cannot be....

C-Systems needs WaMu ....we gain money from investors who make a stake in rebuilding the new company [much as JP gained $10 billion], around servicing a mass of shared-profits, that will fund both Seattle Commonwealth, as well as the Commonwealth for Human Ideals, and their respective local and global projects, in addition to those SP's created within Seattle Summer Festival....and the greater Seattle area gains millions of valuable jobs in the creation of the commonwealth systems.

SO.....

Our offer to JPM is for 2.1 billion dollars added to the 1.9 billion they paid in cash for WaMu's assets, plus any reasonable expenses incured since the acquisition...minus lawsuits.
Payment will be on sale of our 5-year-futures notes, for the new WaMu, or from C-Systems share of moneys raised in the formation of our Shared-profit collectives, within SSF...whichever is first.

JPMorgan raised 10 billion dollars in new capital in the aftermath of the WaMu acquisition, and so it has already benefited mightily in addition to the overly generous 25 billion dollars it received from the people of this country...by way of indebting us.
It has gained sufficient advantages from its former employees being part of the financial regulation system....fairly or unfairly, there is undoubted favoritism that has allowed JPM to prosper, so much in fact that nearly 10 billion dollars JUST IN BONUSES was recently doled out to its employees....to say JPMorgan Chase has gained spectacularly is to put it kindly.

Selling WaMu assets to C-Systems is good because having more banks is a good idea, because WaMu has been around for over 100 years and its resurrection would be a strong positive sign to the markets and general psychology of our circumstances.
And frankly because they have already gained plenty and we need not gratuitously pile more mountains of cash into their vaults, they're plenty rich, while we get poorer as american's.

But there is even a simpler more compelling and unavoidable reason...C-Systems promotion of the commonwealth system....by way of its global projects...will reveal scope and scale unparalleled to anything ventured before, which will have a tremendous effect on global financial and political matters.
Any desire for involvment or influence that the federal government may have will be considered in the context of a 100 percent repatriation of WaMu's assets......... to C-Systems....

If this happens BEFORE a deal is reached with Chase, then there will be no compensation for the assets seized, as Chase has already been well compensated for its aqcuisition and would be spared all the liabilites that come with the assets.

Much as WaMu's employees and Execs were suddenly told their future was decided for them by the federal government, the same is in the offing for Chase, so to make a further profit from the inevitable, all it needs to do is make a quick resolution with C-Systems of the WaMu asset transfer...garnering a minimum of 10 billion dollars since WAMUs collapse without any of the liabilites.

(what can be given, can be taken away)

So in a nutshell, it is not that it could or might happen, but when and how, that it will.


[ The Seattle Commonwealth is aimed at serving the Seattle area and its 3.5 million people, CHI will be doing likewise for 7 billion human beings on earth, generating a vast multitude of local commonwealths in the process...which will be a boon to the global economy. ]

On July the 31st, The Commonwealth for Human Ideals unveil projects that are like nothing that anyone has seen or dared before, and the introduction of which will make SSF and SC pale in comparison of scale and wonder.