The Floridian Boys

[jackson227]

I'll get you some links, but the easiest part about the WaMu "deal" was that per the OTS Fact Sheet, WaMu was well-capitalized throughout receivership, which begs the question "Why were they seized?", but aside from that, the FDIC sold $307Billion in assets to JPM for only $1.888 billion dollars. That is not even close to fair value, even if you don't know accounting or numbers, which is why the lawsuit against the FDIC will result in a settlement, and it will happen sooner than most think.

Washington Mutual Inc is in chapter 11 not because they couldn't pay their creditors, but because their bank was literally stolen from them and given to the JPM. Meanwhile, they sit in chapter 11 with tons of subsidiaries and assets, 1 of which is over $4 billion in cash. Almost all of their debt is long-term due over the next 30 years, and all in all, this has never been your average bankruptcy.

I actually expect someone to buy them out sooner than later, which will result in a very handsome payday for those who have the balls to hold. Trading the WMI stocks if fine, but I know I want to be holding when the real news is announced.

I am long and strong because I know what I got.