littlefishl: You said, "How the H$LL does the FDIC seize a bank and immediately sell it to JPM for less than $2 billion when the bank itself doesn't even have a grasp as to how much cash they have on their books?"
The same way you can throw Citi and WB together, even though WB is far from bankrupt.
Steve Leesman said the FDIC and Treasury will defend 5 major banks to the end: Citi, J.P. Morgan, BOA, Wells Fargo, and one more I cannot remember.
It will be interesting to see who gets WB, since two of the favorite sons are competing--Citi and Wells.
What the FDIC is doing is extra-legal, as in outside of the law.
Welcome to the third world.
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