Mr Cooper Group Inc (COOP)

[WackMc]

JPM morgan illegal seizure imo

The fall of Washington Mutual wasn't a surprise to the government. Nor was it a surprise to J.P. Morgan.

Three weeks before J.P. Morgan bought WaMu's deposits for $1.9 billion, officials at the Federal Deposit Insurance Corp. called J.P. Morgan to say the FDIC was carefully monitoring WaMu and that a seizure of its assets was likely. The FDIC said it would want to immediately auction off WaMu's assets if a seizure was necessary, people familiar with the situation told Deal Journal.

J.P. Morgan was well-prepared, then, when the FDIC asked for bids...

oh yteah link
http://online.wsj.com/article/SB122274760505089533.html