Bosoxfan

Did JPMorgan Almost Fail?

Washington Mutual has 32 billion in assets and 8 billion in debt, in addition the holding company (WAMUQ) "found" 5 billion in cash which has ended up being held by JPM with a "48 hour notice agreement " brokered by the BK court. JPM was "given" Wahington Mutual's retail business by the FDIC for 1.9 billion cash. THis shotgun marriage will be contested by share and bondholders in court and probably will end with a "buy out" by JPM of the remaining shareholders.