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Business & Technology | Treasury’s Paulson warned WaMu CEO to sell before it failed | Seattle Times Newspaper
Business & Technology | Tax rule might have helped WaMu | Seattle Times Newspaper
Bloomberg.com: Worldwide
FDIC says may have significant claims against WaMu | Deals | Regulatory News | Reuters
Regulators owe WaMu shareholders explanation
Uncle Sam Set to Take Over WaMu Branches | The New York Observer
Government Seizes WaMu and Sells Some Assets - NYTimes.com
FDIC enters into Washington Mutual bankruptcy fray - International Herald Tribune
FDIC: Press Releases - PR-85-2008 9/25/2008
Washington Mutual Shareholders Have Banded Together to Challenge the Actions of the FDIC and JP Morgan
Did the FDIC Sabotage WaMu’s Management and Erode Investor Confidence? - Seeking Alpha
FT.com / Companies / Financial services - Five banks exploring WaMu records
JP Morgan chases after Washington Mutual - Telegraph
JPMorgan scoops up WaMu for $1.9B, in line for Lehman cash - USATODAY.com
Government Seizes WaMu and Sells Some Assets - NYTimes.com
CASH CRUNCHED WASHINGTON MUTUAL TALKS WITH POTENTIAL BUYERS - New York Post
JPMorgan’s buyout of WaMu has familiar ring
JP Morgan ‘brought down’ Lehman Brothers - Times Online
NY Judge: Amaranth Lawsuit Can Proceed Against JPMorgan
Did the FDIC Sabotage WaMu’s Management and Erode Investor Confidence?
JPM and others were conducting real negotiations with the FDIC at the same time they were conducting fake negotiations with WaMu’s management. During the consummation conference call, Jamie Dimon disclosed that JPM had unprecedented access to WaMu’s mortgage detail. JPM received computer tapes with the most granular mortgage detail (FICO scores, LTVs, and MSAs) to compare with their own data and develop loss projections. JPM had the time to do a true bottom up analysis.
FT.com / Companies / Financial services - Five banks exploring WaMu records
Five banks have come forward to evaluate Washington Mutual’s financial records as part of an auction process run by WaMu’s adviser, people familiar with the matter said on Thursday.
JPMorgan made an offer for WaMu this spring but was rebuffed. JPMorgan may be waiting to see whether the auction heats up before determining whether to bid for WaMu’s assets now or try to buy pieces of the bank more cheaply later, sources close to the matter said.
JP Morgan chases after Washington Mutual - Telegraph
Banking conglomerate JP Morgan Chase is considering making a low-ball offer for Washington Mutual in an effort to save the troubled American bank amid concerns over its capital adequacy.
JPMorgan scoops up WaMu for $1.9B, in line for Lehman cash
JPMorgan Chase acquired the banking operations of Washington Mutual, the nation’s largest savings and loan, for $1.9 billion Thursday night in a deal brokered by the Federal Deposit Insurance Corp
Government Seizes WaMu and Sells Some Assets - NYTimes.com
Regulators simultaneously brokered an emergency sale of virtually all of Washington Mutual, the nation’s largest savings and loan, to JPMorgan Chase for $1.9 billion
CASH CRUNCHED WASHINGTON MUTUAL TALKS WITH POTENTIAL BUYERS
The Seattle-based thrift has received several “expressions of interest” from different parties including Citigroup, JPMorgan Chase, Wells Fargo, HSBC and Spain’s Banco Santander. Bloomberg News also reported that Canadian bank Toronto-Dominion Bank also recently joined the group of potential buyers.
Any deal could take a few more days to work out as both sides assess the impact of the Treasury Department’s $700 billion asset-purchase program, sources said.
Bidders are pushing federal regulators, who are loathe to seize the bank’s assets if it goes under, to take on some of the bad loans.
Business Spectator - TD Bank among bidders for WaMu: source
“I don’t think that they’d (TD Bank) have any interest unless there was some assistance from the US government to take over problem assets, in a good bank/bad bank scenario,” Mr Goldberg said. “If that happened, there could be lots of people interested.”
Business & Technology | WaMu creditors could challenge payments to Killinger, others
For its part, the holding company does not even know how much it has in assets. In a securities filing on Tuesday, the company said it is trying to figure out the status of its assets, which include $5 billion in cash that was on deposit at WaMu.
JPMorgan’s buyout of WaMu has familiar ring
FDIC Chairman Sheila Bair, whose agency brokered the deal with JPMorgan Chase, told reporters it was “reminiscent” of the rescue bid by the House of Morgan’s founder, John Pierpont Morgan, on the floor of the New York Stock Exchange in 1907.
Morgan, the legendary industrialist and investment banker, stepped in to help ward off crisis. He brought together Wall Street bankers and the U.S. Treasury to put together a rescue package meant to prop up banks and trusts. Morgan chipped in $3 million of his own money, while federal aid totaled about $35 million.WaMu Truth: Washington Mutual Brought Down by JP Morgan and FDIC Collusion
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