Travelmile, I will liken my comments on your post and apply it to the current health care debate going on. The Government in it's infinite wisdome is telling us the health care system in broken and we need to fix it. Well in reality as with WAMU there were certain aspects of their business doing very well and others not so well. So instead of our Government repairing just the portion of the uninsured in our country they want to revamp and take over the whole system, just like FDIC and JPM did with WAMU.
Oh dear WAMU your in deep trouble we can fix you up by buying you at a golden price only offered to JPM via FDIC. So in essence you are correct that the Government and JPM worked together to finalize this crooked deal. Hard to fight against that I agree. Where I fail to agree is in a courtroom still in America there is justice being served everyday, and in this particular courtroom with this Honorable Judge companies do not get away with such illegal ethics or actions. It has been proven in this courtroom no matter who you are you don't get away with much.
So you're arguement does hold water as in our Government will take over our entire health care system even though only a small portion requires some fixing. FDIC and JPM decided the whole of WAMU was failing so we must take it over, giving basic common shareholders no voice, no choice. So that alone with no consideration of the investors or investment community combined with the few days thereafter issuing TARP funds to their good big bank buddies smells to high heaven as an gift to JPM. No way around making that pig smell good. I think you are correct for the most part in your comments as is Fish but I for one believe that justice will prevail for shareholders here. May take awhile longer but the Judge can stop all this BS very soon.
One thing you learn in life is you do not let things fester along, you nip them in the bud and this has gone on way too long and festered way too much, so it's time for the Judge to do her nipping. GLTA here.