Wamook

Washington Mutual: The Largest Bank Failure in History

It's plain and simple. It's profiteering on a crisis. The whole financial climate was bad. This move by JPM&C makes it a lot worse and a lot more lasting for a lot more people. A very few large depositors moving their money toppled this bank. JPM used the countries financial crisis as a smoke screen for a mugging.

WaMu Still Broke

Washington Mutual is not broke. 32 billion in assets is to be decided and checked by the bankruptcy court. 5 billion in cash is on deposit at the bank now operated by JPMorgan Chase. This is plain and simple. JPM is profiteering on this crisis. The whole financial climate was bad. There is a portion of that 32 billion that's listed as equity in the bank. But I'm betting it wasn't 32 billion. There is a financial crisis going on in the country and in the world. The future is looking very bleak. This move by JPM&C makes it a lot worse and a lot more lasting for a lot more people here in this country. A very few large depositors moving their money toppled this bank. JPM used the countries financial crisis as a smoke screen for a mugging.

They chose this outcome so they could write a bigger number in their books. And they have not thought what it will do to the over all picture for the country and for the world.