Dave O.

Did the FDIC Sabotage WaMu's Management and Erode Investor Confidence?

Imagine the outrage, both public and regulatory, if, say an auto insurance company deemed a driver 'unsafe', confiscated his $12,000 automobile, sold it for $1200 and kept the proceeds. Imagine a home insurer declaring a smoking homeowner 'dangerous', confiscating his $250,000 house, selling it immediately for $25,000 and retaining the proceeds. The shenanigans behind the FDIC -JPMC deal will soon come to light in the face of shareholder lawsuits. They'd be smart to allow current shareholders to sell at $3 to $4 than to spend $billions more defending their chicanery.