Chase countersues
Chase has not counter sued the FDIC and WaMu’s former holding company to protect the assets being contended by the former WaMu holding company. (article)
Chase has not counter sued the FDIC and WaMu’s former holding company to protect the assets being contended by the former WaMu holding company. (article)
There is apparently some momentum in the discussion of the $4B in disputed funds between the WaMu holding company and JP Morgan Chase.
Here is the letter WaMu’s former holding company has sent to shareholders, outlining the great injustice they felt was done by seizing WaMu and selling it to Chase. They are also talking about having an annual meeting.
More inquiries into the WaMu seizure. Apparently the smoker in this article is former Treasury Secretary Hank Paulson having admitted at the time of the WaMu seizure that he knew WaMu was adequately capitalized.
An internal email from 2008 is helping to paint the picture that JP Morgan Chase might have behaved badly in its dealings prior to its acquisition of WaMu.
If you are following the saga of the former WaMu holding companies bankruptcy, their request to get their hands on FDIC papers related to the seizure and sale to JP Morgan Chase (and what started a further downward spiral in bad customer service for WaMu customers) was denied by a Texas judge.
Looks like Congress is finally taking notice of the former WaMu’s holding company’s suit against the FDIC and JP Morgan Chase and is doing some investigating of its own. (another link)
If you are following the lawsuits around the WaMu seizure by the FDIC, the latest article from the Puget Sound Business Journal points to JP Morgan Chase having inside information and planning on an FDIC sale long before it happened.