Reichert Statement on Washington Mutual

Press Release

Congressman Dave Reichert (WA-08) made the following statement today following the news of Washington Mutual's seizure by the FDIC and sale to JP Morgan Chase:

"I was saddened to see yesterday's seizure and sale of Washington Mutual, a deeply respected institution in our state and nation. My office stands ready to assist any WaMu employees who may be affected by the sale navigate these turbulent times. Furthermore, I encourage district residents with questions to contact my staff at (206) 275-3438 or to visit my webpage at http://reichert.house.gov for information from the Federal Deposit Insurance Corporation (FDIC).

"The sale of Washington Mutual is one more sign that the challenges to our economy are very real and widespread, and require thoughtful, carefully considered, and well-planned solutions. I have already met with and solicited input from Republican and Democratic lawmakers, leading economists and financial experts, Treasury Secretary Paulson, senior Administration officials, members of my 8th District Economic Advisory Committee, and many constituents. Rest assured that I am evaluating the many proposals circulating through the halls of Congress to address our financial crisis to ensure that any proposed remedy protects the middle class and all taxpayers and is not more harmful than the illness."

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