WaMu sale to JPMorgan Chase still not closed
We reported a couple of months ago that the sale of Washington Mutual to JPMorgan Chase had not actually officially closed, leaving some speculation that the FDIC might have an opportunity to force JPMorgan Chase to pay more, given how the value of the assets has been proven more valuable than originally estimated.
Since then, JPMorgan Chase has actually turned the tables and asked the FDIC for money back, more than they actually paid for WaMu.
Well, the deal was supposed to be closed by September 30, and the close has been extended another 30 days.
Perhaps JPMorgan Chase requested money from the FDIC to cover lawsuits related to WaMu as a counter offensive against the FDIC asking for more money for the WaMu deal, hoping for a wash.
I realize none of the favorable outcomes we are speculating on are likely, but we can at least hope for justice, can’t we?
WaMu failure | admin October 6, 2010
