The examiner himself stated he didn't know what assets were gained by JPM didn't he?
His job was to see if with the current information he had available if it were worthwhile to pursue. He didn't check with the SEC to see who shorted Wamu to nothing, he didn't check to see why Wamu wasn't allowed on the no short list, he didn't check into who was shorting Wamu like crazy. He didn't check out FDIC's deal with TPG to see if that was a "GIFT". He didn't check to see what assets were transferred, he didn't check to see who took out $16 billion after Lehman's failure, he didn't check if that was the same percentage every other bank was losing at the time, he even stated that there was information JPM was putting out bad wording about Wamu months before Wamu's failure(see John Reich's comments about him telling Jamie Dimon to stop)
You can also state that JPM set aside $74 billion for failed home loans. JPM also has the assets backing that $74 billion in home loans so even if they lost 25% (which they probably won't as they are really pushing to get the foreclosures over with and then they will again give just anyone a loan to rise the prices back up).
I have myself realized this "examiner's" scope was severely limited and his hands were tied and apparently there is no fighting it, but still doesn't make what happened to me and thousands of other shareholders right. For God's sake he couldn't even talk with anyone important at the FDIC as they stuck just a couple people with a little information about Wamu to talk to him.
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