Washington Mutual Preferred fka WAMPQ

[Bizreader]

It is a catch 22 thing, like that.

That's probably adding to the pressure on JPM but with the mind set of the "untouchable" nature of JPM as a US government special case bank I to believe the US Treasury is in on this.

The managers on this could very well be wrangling about these very topics now. They are only human.

I would venture to say that there will be some very high level discussions about the quagmire.

JPM's books will look very bad and thus the banking sector will take a big hit if WMB's get wrestled away from them because the FDIC paid WMI off.

No one has ever been in charge of such a large, fat, sloppy mess of a financial debacle.

What they are going to do is try to have JPM keep the bank and pay off WMI.

We may find ourselves asking Weil to lighten up and take the deal before this is over! LOL