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VPbanker

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Re: charthawk post# 41264

Wednesday, 10/15/2008 1:36:43 PM

Wednesday, October 15, 2008 1:36:43 PM

Post# of 75789
WAMUQ breaking through HOD on news spreading and forfeiture by JPmorgan of 4.4bln to WAMUQ

http://www.reuters.com/article/marketsNews/idINN1530488520081015?rpc=44

NEW YORK, Oct 15 (Reuters) - JPMorgan Chase (JPM.N: Quote, Profile, Research, Stock Buzz) agreed to allow bankrupt savings and loan Washington Mutual Inc's (WAMUQ.PK: Quote, Profile, Research, Stock Buzz) parent company to access $4.4 billion of its funds that may be used to help pay creditors.

WaMu's parent company can take back control of $707 million in deposits it had at Washington Mutual Bank and $3.7 billion it held at the bank's subsidiaries, according to documents filed with Delaware Bankruptcy Court on Tuesday.

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