WaMu’s seizure still a mystery
An article in the Wall Street Journal today fails to close the books on WaMu’s failure/seizure, but instead continues to raise the question that WaMu might have been seized prematurely. Striking is the fact that documents related to the seizure obtained by the WSJ were heavily redacted and provided little information into actually what went on. The article also presents the image that JP Morgan Chase was essentially stalking WaMu. Truly striking though is the image that there still has been no clear cut impetus for the seizure presented by those involved.
Given how JP Morgan Chase continues to treat its customers, it is very believable that it believes it can do whatever it wants and had an active hand in determining WaMu’s fate before it was seized.
Bad bad Chase, WaMu failure | admin April 13, 2010
