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January 6, 2009

After having contacted countless journalists to speak about what I knew about Washington Mutual and its seizure by the OTS (but having heard nothing) I emailed a journalist who had previously written about Washington Mutual. I thought this journalist would value the truth, but I was wrong. All journalists value their jobs much more than the truth. Morgenson was more committed to showing that Washington Mutual was a failed bank that should have been shut down instead of reporting the truth, which I informed her of. The following email is a follow up from a previous email I had sent but cannot locate.

Background reading materials

The Biggest Banking Heist in World History: Washington Mutual

Illegal Seizure of Washington Mutual (complaint to SEC)

Blast from the Past: Mike Predicts Demise of Washington Mutual and Lehman

Evidence the SEC Ignored WaMu's Request to be SAVED

WaMu: One Year Later and Still No Indictments

WaMu Insider Trading & Naked Short Selling

Ignorance of Main Street Best Seen in WaMu Shareholders

WaMu Coverup: Email to Dan Wilchins Reuters Prick and Wall Street Hack

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Ms. Morgenson, the censorship and complete disregard I have experienced by the mainstream media since the 2006 release of my book (America’s Financial Apocalypse) has been unbelievable.

Roubini, Shiller, Shilling, Schiff, etc. have all received credit for predicting this mess but the fact is they did not predict it. Most of them mentioned issues on blogs which hardly qualifies as having predicted this mess.

Schiff did write a book but it is very one-dimensional, was mostly wrong and has no data. It was written only as a marketing piece for his brokerage firm. He has been preaching doom for 2 decades as have the others. Therefore, they have 0 credibility. They also have doom as a perpetual theme for marketing purposes.

I get paid to be right, whether I see doom or boom, so I have no agenda for predicting doom other than to be right. And I do not deal with retail investors. Many of the hedge fund managers who fared well in 2008 know about me. Grantham read my book early on and a top executive at GAMCO ordered dozens of copies prior to its release.

I find it odd that no one else knows about me despite the fact that my track record confirms I am the world's leading expert on the current crisis. I have spent the past two years contacting the producers of every single televised financial news and general news program; every network, as well as many large newspapers and radio stations, and I have been ignored. They all have my book - Kudlow, Cramer, the Fast Money hams, everyone. Yet they have no interest in speaking with me even after I predicted everything. It should be obvious why.

The NY Times has rejected my op-eds as has the Washington Times. Why might this be?

If Americans knew that I was being shut out despite the fact that my only motive was to warn them, they would be even more upset.

The media industry has struggled for years because the content has suffered. I would think that the industry to welcome my expertise. But the executives have made the mistake of thinking they can keep the public from knowing the other side through censorship. The public has turned to the Internet for the truth. Accordingly, I will soon have a web site to freely communicate the truth. If you knew what I have been through you would be quite surprised.

I have attached some excerpts from my books and the complaint I sent to the SEC on WaMu in October. Shortly thereafter I was visited by a federal agent. I will leave it at that for now. I have not written anything in a month because I am quite busy wrapping up a couple of books. But if you check the timeline and read my archives you will see I provide insight and guidance rather than a rehash of news unlike most of the other amateur writers on the Internet.

I tell it like it is and that is why I have been censored. Those who are holding things back are liars and crooks and they only care about themselves. I find it disgraceful that those who try to help people get nowhere while those who rob people blind (the banks and the so-called "experts") are rewarded at the expense of millions of everyday investors. This is the reality of America. It is no different than any other nation in that regard. If you would like to hear more of anything mentioned here, in my archives or attachments, feel free to contact me.

Respectfully,

Mike Stathis

Managing Principal, Apex Venture Advisors

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As you can imagine, I never heard from Morgenson because her purpose is to deceive the public, just like everyone else in the media.