$4 billion agreement
The BIG news is that WaMu’s former holding company has announced that is has reached an agreement with JP Morgan Chase and the FDIC that gives it back $4B in assets it had claimed and allows it to keep 1/2 of the $5.6B in tax credits. This is good news for WaMu bondholders, but not enough to give shareholders anything. I hope this doesn’t kill the impetus for lawmakers to continue to look into the fiasco of a siezure that gave WaMu to Chase.
WaMu failure | admin March 13, 2010
