Gov. Gregoire�s statement on the sale of Washington Mutual�s banking operations

For Immediate Release: September 25, 2008

OLYMPIA � Gov. Chris Gregoire this evening issued the following statement on the sale of Washington Mutual�s banking operations:

�Like all working families, I am sickened by the recent failures of financial institutions on Wall Street. And like my fellow Washingtonians, I am saddened and disappointed that Washington Mutual, which grew from a small Seattle savings institution to one of the nation�s largest lenders, has had to sell its banking operations.

�The sale of this Washington icon is more evidence that the federal government�s failed regulatory policies of the past eight years � in this case related to the mortgage markets � hurts Washington working families and Washington�s economy.

�My hope is that J.P. Morgan Chase and Company will consider WaMu�s employees, customers and its importance to the economic and social fabric of our state. Today, I exchanged phone messages with J.P. Morgan�s Chief Executive Officer Jamie Dimon, and I plan to talk with him in the morning. I will monitor further developments closely in the days ahead.�