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Member Since: 7/2007Last Seen: 11/22/2009

JPMorgan buys WaMu

"JPMorgan Chase acquired the banking assets of Washington Mutual late Thursday after the troubled thrift was seized by federal regulators, marking the biggest bank failure in the nation's history and the latest stunning twist in the ongoing credit crisis.

Under the deal, JPMorgan Chase will acquire all the banking operations of WaMu, including $307 billion in assets and $188 billion in deposits."

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{"commentId":3143720,"authorDomain":"dantcer"}

At least this is ONE failure that was seized in the nick of time. I hope the FDIC cleans house.

{"commentId":3143720,"threadId":"369531","contentId":"1915924","authorDomain":"dantcer"}
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Reply#1 - Fri Sep 26, 2008 12:08 PM EDT
{"commentId":3144152,"authorDomain":"thedudedean"}

I think JP Morgan swooped in and stole it.

{"commentId":3144152,"threadId":"369531","contentId":"1915924","authorDomain":"thedudedean"}
    #1.1 - Fri Sep 26, 2008 12:25 PM EDT
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    {"commentId":3144349,"authorDomain":"dantcer"}

    I think so too. This means I still have to pay my mortgage right? lol

    {"commentId":3144349,"threadId":"369531","contentId":"1915924","authorDomain":"dantcer"}
      Reply#2 - Fri Sep 26, 2008 12:32 PM EDT
      {"commentId":3148324,"authorDomain":"thedudedean"}

      If you can in this economy. ;-)

      {"commentId":3148324,"threadId":"369531","contentId":"1915924","authorDomain":"thedudedean"}
        #2.1 - Fri Sep 26, 2008 3:03 PM EDT
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        {"commentId":3151089,"authorDomain":"bjames310"}

        Is there any thing in place that will stop the WaMu credit card hikes going on? I thought I read Jp Morgan is not taking over the unsecured debt.

        {"commentId":3151089,"threadId":"369531","contentId":"1915924","authorDomain":"bjames310"}
          Reply#3 - Fri Sep 26, 2008 5:12 PM EDT
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