Chase purchase of WaMu, take two
We reported yesterday that according to documents recently uncovered, the purchase of Washington Mutual’s assets by Chase hasn’t officially closed yet.
Today, the Wall Street Journal is suggesting that, almost two years later, and with a better idea of the true value of WaMu’s assets (i.e. much greater than what Chase paid for them), the FDIC might be pressured into increasing the price JP Morgan Chase must pay. Shareholders, who got severely shafted by the seizure and sale, are obviously the greatest beneficiaries if this were to happen, but everyone’s sense of fairness and justice might just benefit as well.
WaMu failure | admin August 19, 2010
1 Comment
Other Links to this Post
RSS feed for comments on this post. TrackBack URI
By John Irving, August 31, 2010 @ 4:16 pm
I have been out of work for a year and a half. While needing every dime I can put my hands on, I started a checking ($100 bonus for starting the account) and savings account with CHASE. I deposited an unemployment payment into the checking account and as soon as CHASE saw fit, they withdrew $475 dollars from the account for what they said was money I owed to Washington Mutual. I never consented to any of this and actually refused to participate in any overdraft fees that were proposed,,,If the money is not in there, then don’t pay it was my new rule… Nevertheless, for the bank to just arbitrarily pass judgment on me and deduct these fees,, where will it end,, I might be paying some other fee forever???