Regarding Tonopah and Rikszy statements:
Tonopah quote:
As a long time reader of the WSJ and Investor's Business Daily (WAY before the Internet research), I can honestly say this is the best, by far, board I have ever seen.
Rikszy Quote (reply):
The most impressive aspect of this group to me is the unadulterated eagerness to dig! The digging and sharing of DD is second to none here!
I suspect that the reasons for the passion and dedication here is that this is a matter of more than ROI to a bunch of investors. I would not be surprised if at least 50% of the WAMU IHUBBERS here, like me, have never before followed a penny stock.
The circumstances that led many here are that we invested at some point before the total take-down. After we were left holding $.03 PPS stock, we began searching for information about why and how this happened. For me, it was simply a matter of doing a Google search, and bingo -- there was this wealth of information for me to evaluate.
Like many, the more DD I read the more passionate I became about the injustices. Salvaging my original puny $5,000+ investment in 300 shares was no longer the primary issue. What became most important was the multi-millions of $$ lost by the employees and long time supporters of WAMU in the entire Pacific NW resulting from the greed and hunger for growth of the Wall Street insiders coupled with orchestrated panic by Bair and Paulsen. When I became convinced that there was reasonable hope of justice, I like 3,500 others wrote that letter to the UST.
So why is WAMU different than your garden variety bankrupt company where pumpers turn short-term profits by giving hope where there is none? It differs because we hunger for the truth to prevail in court. We feed on knowledge and the hope that if fairness wins out, we will not only gain financially, but also we will confirm our faith in justice and redemption.
I haven't even lived in the Pacific NW for 33 years (Duck '77), but I still feel the attachment to the region and stay in touch with friends in Seattle. They have shared their stories of pain that this entire episode in American greed has caused the community and the region.
In summary, this is not just an investment board, this is an information center for those that are willing to do the work that the mainstream press (with notable exceptions - particularly Kirsten Grind) apparently is afraid to do. This board is like a press-room where all the reporters have been assigned to one story.
Let us hope that the truth is revealed and the truth wins out. Oh and, GO WAMU --GLTA