TigerSoft - www.tigersoft.com   12/30/2007  --- by William Schmidt, Ph.D.

                                                            
3/20/2008
                                                                                 Three months, too late, Cramer places Killinger at top of his Hall of Shame.
                                                                                 3/5/08 - Killinger fixed WAMU Bonus system so he can again score big in 2008.
                                                                                 Despite fall of his company's stock from 46 to 6.
                                                                                   6/1/08 - Killinger removed as Chrmn of Board.  Still CEO.  Why?

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====================================================================================
         3/20/08        
     RAMPANT INSIDER SELLING and
                              UNCHECKED GREED AT WASHINGTON MUTUAL (WM) ..                wpe4F.jpg (48661 bytes)

                      3/20/08   Update on Washington Mutual's Board of Directors Rampant Greed.

                                  from Michael Brush  3/19/08
|                    
http://articles.moneycentral.msn.com/Investing/CompanyFocus/WaMuSkipCustomersSaveTheExecs.aspx
                      Washington Mutal has the reputation of "tough guy" when someone falls behind on their home payments.
                       But it lavishes high pay on its CEO and has just made it easier for its executives to get millions in bonuses.
                       All this in a company whose stock is falling, falling, falling and is now below $10.   Profits or successful
                       loans are too hard for these million dollar thieves.  The new rules give executive bonuses for customer
                       loyalty and ATM usage.  "If the bank meets its watered-down performance hurdles this year, Killinger
                       stands to pocket $3.6 million as a bonus for 2008, or about 365% of his base salary...For meeting the new,
                       lowered bonus hurdles, Chief Operating Officer Stephen Rotella would get a $2.8 million bonus,
                       or 304% of his base pay this year. And Thomas Casey, the finance chief, would get $1.2 million,
                       or 179% of his base pay.
                       Google Washinton Mutual bankruptcy and you see how far ranging other complaints are
                       against them:

                        (
1) Non-diclosure to share-holders about non-performing loans.
                        (2) NY Attorney General alleges "that WaMu pressured eAppraiseIT to inflate home appraisals."
                        It is alleged that their loan officers willing to make all kinds of misrepresentations to close loans.

                         (Source: http://accruedint.blogspot.com/2007/11/washington-mutual-what-i-have-told-you.html )

                        (3) "
Washington Mutual, Bank of America Corp., JPMorgan Chase & Co. and Citigroup Inc.
                         spent $25 million in 2004 and 2005 lobbying for a legislative agenda that included changes in bankruptcy
                         laws to protect credit card profits, according to the Center for Responsive Politics, a non-partisan
                         Washington group that tracks political donations.  The banks are still paying for that decision. The surge
                          in foreclosures has cut the value of securities backed by mortgages and led to more than $40 billion of
                          writedowns for U.S. financial institutions. It also reached to the top echelons of the financial services
                           industry.
                         (4) Grotesque over-charge fees by Washington Mutual.
                         (5) Washington Mutual Visa Doubles Interest Rate with no warnng.
                         (6) Washngton Mutual employees steal identity to get loans and lines of credit.
                         (7) "A friend of mine got into a argument with wamu over a fee on his mortgage he won't pay so
                          Now they have returned his checks and are starting forclosure he has hired a lawyer does not sound
                          like they need the money" Source


             ===================================================================================
   
               
  Insider Selling at Washington Mutual and CitiGroup
             Should Make Shareholders "Mad as Hell".
        12/30/2007
               
 

         
Small Shareholders Are Always The Last To Find Out That Their Money Has Been Taken.
                          Insider Selling by Robert Rubin at CitiGroup (see below)

   
            CEO of Washington Mutual (WM), Henry Killinger,
              Can't Get By on His $5 Million per Year Salary.
              His Inside Information Has Made Him A Lot More.

                                                          Under his misleadership, WM lost nearly $1.9 billion in the
                                                     fourth quarter of 2007.  Some believe it could lose $7 to $10 billion
                                                     in 2008.  The bank will then be bankrupt.

       wpe2D.jpg (3903 bytes)  

                    In 2006, WAMU's CEO was $14.3 million.  Like Dillinger, he robbed his bank, because
          "That's where the money is"

        
           $5.07 Million and $15.26 Million in exercised options is the current salary of the Washington
          Mutual's Chairman, Chief Executive Office and Chairman of Corporate Development,
          Henry K. Killinger.  The company's VP Jmaes B. Corcoran gets $2.78 million.
                               (Source: http://finance.yahoo.com/q/pr?s=WM )

                    Obscene?   This is typical of high pay given to corporate executives, even when they have
          just lost their shareholders billions and billions of dollars.  Look at the chart of Washington Mutual
          below.  The stock has fallen 69% so far in 2007.  This shows profoundly poor judement on the part
          of this particular CEO.  It certainly exemplifies the lack of any real accountability in corporate
          board rooms. 

                   But is he guilty of criminal insider trading?  Maybe, he was just very lucky to have unloaded
          so many Washington Mutual shares near the top.   "Insider informed selling" is our interpretation
          when a company's stock shows steadily negative (red) readings from the TigerSoft Accumulation Index.
          Drops by this index below -.25 and serious underperformance in an otherwise rising general market
          are usually sure signs that insiders are getting out of the stock themselves and telling their closest
          associates  to do the same, one way or another.   Washington Mutual's stock (WM) makes that point
          very well.. 

                    Here are the insider sales by Kerry K  Killinger (known here as "KKK") since November
          2006, as reported by Yahoo.

                                         These are shares he got stock options to, cost $0, on January 19, 2007!
                                    May 1, 2007  50,000  shares of WM @42-42.13               Proceeds =   $2,103,100
          .                         February 27, 2007  1,048  shares of WM                            Proceeds =  not reported. 
                                   February 1, 2007  50,000  shares of WM @44.59-44.73   Proceeds =   $2,233,000
                                   January 19, 2007  12,021 shares of WM @44.67               Proceeds        $537,000
                                   January 8, 2007    16,130   shares of WM @45.31             Proceeds =     $731,000
                  
                                   also
                                   November 1, 2006  50,000 shares @42.28042.46              Proceeds=   $2,119,000
                                                            ( Source: http://finance.yahoo.com/q/it?s=WM )  
                             
                                  More information:

                   It should be noted that Killington and Washington Mutual have been sued before for
          insider trading. http://securities.stanford.edu/1031/WM04-01/20040720_f01c_SouthFerryLP2.pdf     
 
                   KKK gives campaign contrinutions to both Democrats and Republicans.   He wants access
          no matter who wins. 
                                          6/26/2003    $1,000 to  
MIKE CRAPO FOR US SENATE
                                          6/30/2003   $1,000 to   SHELBY FOR U S SENATE   (Democrat)
                                          12/9/2005   $2,000 to   KENNEDY FOR SENATE 2012 (Democrat)
        (Source: http://query.nictusa.com/cgi-bin/ind_detail/KILLINGER|KERRY+K|SEATTLE|WA )
                                         2/5/2007     $2300        TOM VILSACK FOR PRESIDENT  (Democrat)
        (Source: http://query.nictusa.com/cgi-bin/ind_detail/KILLINGER|KERRY|SEATTLE|WA )
                                          2006          $4,596      FRIENDS FOR MIKE MCGAVICK  (Republican - Idaho)
                                          2007           $2,000       Chris Dodd for President
                                          2000, 2004                 George Bush

                   

   

         
           Washington Mutual TigerSoft Chart: 2007
                                     TigerSoft Users Would Have Sold Out (and Sold Short)

         TigerSoft spots insider selling mainly by watching the Tiger Accumulation Index.  Its dropping below -.25
     when the stock is under-performing the DJI (representing the general market) is the primary way we do this.
     The redish-purple lines show these points in this chart.

     When the Black TISI line (6/6/2007) drops into negative territory and the stock has closed below its now
     falling 50-day ma, TigerSoft users know to consider the stock bearish, especially if it over-extended on the
     upside.  Additional Tiger Sell signals give more points to sell the stock short. Note how the cumulative
     On-Balance-Volume (OBV) Line makes confirming new lows.   This is a stock whose trust is now lacking.
     It takes a long time and new management to rebuild it.   Thus, the stock is still being dumped as 2007 ends.

============================= WM  2007 =========================================
       wpe2D.jpg (95027 bytes)
         
                 How To Look Up Insider Selling? 

         Yahoo is a good source for looking up insider transactions in your stocks.  Here is the link
          for Washington Mutual. 
          http://finance.yahoo.com/q/it?s=WM

             Insider Selling by Robert Rubin at CitiGroup

               You can just as easily look up those of Citigroup (C)
         Among those listed as Clinton's Secretary of the Treasury, Robert E Rubin. 
         He paid $0 for these 124,250 shares.    He got out at a time when TigerSoft shows
         other savvy insiders were selling at the top!
           
22-Jan-07 RUBIN ROBERT E
Officer
77,500 Direct Sale at $55.05 - $55.05 per share. $4,266,0002
16-Jan-07 RUBIN ROBERT E
Officer
124,250 Direct Acquisition (Non Open Market) at $0 per share. N/A
19-Jun-06 RUBIN ROBERT E
Officer
196,624 Direct Disposition (Non Open Market) at $48.36 - $48.36 per share. $9,509,0002
19-Jun-06 RUBIN ROBERT E
Officer
234,353 Direct Option Exercise at $33.44 - $33.44 per share. $7,837,0002

       wpe2E.jpg (49872 bytes)

                   

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