He's playing "chicken" and has probably already sold his POSition in JPM and they're shorting it themselves. I called that a week ago at 45 a share. He knows he's going to lose in court and that if they do a share swap trade, I'd expect WAMU shareholders to destroy JPM's stock price.
Personally I'd like it if the government made JPM take bailout funds to pay WAMU cash. A stock swap will bring JPM below it's 52 week low. Force all JPM employees into a no sale clause for two years on either JPM or WAMU stock.
OR....
JPM returns ALL assests, money and has to redo their quarterly reports without WAMU's assests on the books.
The FDIC now has to pay WAMU for the damages caused.
WAMU was a much loved bank and I've kept my checks and ATM card. The day I'm forced to get new CHASE checks or card, is the day I close my account. I've also got a BAC account and I'd close it and move my funds to WAMU if it was brought back...
GO WAMU!
P.S. I bought another 30,000 WAMUQ on Friday when JPM's POS said that 'to big to fail" BS. I'm angry and getting more upset every day I hear anything about a BANKSTER! I want justice one way or another. Put them in jail, pay us "fair value" regulate those THIEVES!
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