I agree with your assessment. That idea has been floated here several times. We may never have proof that WAMU was sacrificed for JPM but when the settlement comes through that will be "proof" enough that the powers that be saw a just and reasonable outcome in the long run.
They are raising capital this way because they need to according to the stress test. The gov says u get tarp u need this much working capital blah blah blah, you dont have it then raise it with a stock offering. I think this system of stress test etc is meant to leave a paper trail for justification of FDIC theft in the future. They have no paper trail for their justification of seizing WAMU. IF they did their a.. would be covered. Also if they did they would realize they shoulnt have seized the bank. This is just to show proof that their thefts in the future can hold up in a law suit. THey learne by seizing wamu to do this. They are up up the creek now with this suit. Millionaires by sept? December for sure.
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