EXHIBIT 12.1

WASHINGTON MUTUAL, INC.  COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

|                                                      |                                                    | Year Ended December 31, |       
|----------------------------------------------------- | -------------------------------------------------- | ----------------------- | ------
|
|
|Earnings, including interest on deposits(1):          |                                                    |                         |       
|Income from continuing operations before income taxes |                                                    | $                       | 309   
|Fixed charges                                         |                                                    |                         | 11,480
|                                                      |                                                    |                         |       
|                                                      |                                                    | $                       | 11,789
|                                                      |                                                    |                         |       
|Fixed charges(1)(2):                                  |                                                    |                         |       
|                                                      | Interest expense                                   |                         | $     
|                                                      | Estimated interest component of net rental expense |                         |       
|                                                      |                                                    |                         |       
|                                                      |                                                    | $                       | 11,480
|                                                      |                                                    |                         |       
|Ratio of earnings to fixed charges                    |                                                    |                         | 1.03  
|                                                      |                                                    |                         |       
|Earnings, excluding interest on deposits(1):          |                                                    |                         |       
|Income from continuing operations before income taxes |                                                    | $                       | 309   
|Fixed charges                                         |                                                    |                         | 4,870 
|                                                      |                                                    |                         |       
|                                                      |                                                    | $                       | 5,179 
|                                                      |                                                    |                         |       
|Fixed charges(1)(2):                                  |                                                    |                         |       
|                                                      | Interest expense                                   |                         | $     
|                                                      | Less: interest on deposits                         |                         |       
|                                                      | Estimated interest component of net rental expense |                         |       
|                                                      |                                                    |                         |       
|                                                      |                                                    | $                       | 4,870 
|                                                      |                                                    |                         |       
|Ratio of earnings to fixed charges                    |                                                    |                         | 1.06  
|                                                      |                                                    |                         |       

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