Replies to post #12256 on Washington Mutual Preferred fka WAMPQ

[Lawrence 147]

The one thing I am sure of is the immense power of the Federal Reserve needs to be taken away. No one entity with so much power should have no oversight. And the SEC. Needs to change its ways and protect the investor.

[Lawrence 147]

I am sure that argument will be used in some form. The problem relay comes down to WMB was capitalized and only 1 or 1 ½ % below JPMC at the time of the seizure. This was a very small window of opportunity for the OTS to make its claim. I am sure there are many reasons they chose WMI to attack when BAC was in far worse condition at the time. Maybe BAC was just considered to big and they would wind up with an insurmountable number of lawsuits.