madasiwannabe

On WaMu's Birthday, JPMorgan Takes the Cake

This is a shame. JPM gets another great deal and shareholders get screwed. This isn't a buyout, JPM gets 32 Billion in assets for free which makes it white collar theft. Sure they pick up 30 Billion dollars in what they say are bad debts and have to pay FDIC 2 Billion, but any bailout plan will take that off their hands. They are already talking about making profits.

Wonder when Hank Paulson is going to start getting paid for working for these guys? He's proven to be a real money maker.