JohnnyWinter, have you ever heard of the phrase, "two wrongs don't make a right"?
Sure, WAMU was managing part of their operations poorly and made some bad loan decisions...... However, that didn't give the FDIC and JPM the right to conspire to seize WAMU illegally...
The whole banking melt down was a result of this type of thing by ALL BANKS!
JPM Chase is under the gun for the same thing in derivatives and other banking debacles. The FDIC and Sheila Bair have admitted they made a mistake seizing WMI property.
That is admission is way more important in that cases at hand than the mortgaging mistakes WAMU banks did. Oh, and that WAMU was solvent anyway.
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