WaMu bankruptcy falling apart
Now the FDIC is backing away from its support of JP Morgan Chase getting part of the tax break that really belongs to WaMu’s former holding company. This doesn’t help WaMu’s common shareholders though, as even with an additional $1.4 billion, there isn’t nearly enough money to make the bondholders whole, and that happens before shareholders get any money.
WaMu failure | admin March 28, 2010
