2. PURCHASE AND ASSUMPTION AGREEMENT - NO mention of WMBfsb THIS AGREEMENT, made and entered into as of the 25th day of September, 2008, by and among the FEDERAL DEPOSIT INSURANCE CORPORATION, RECEIVER ofWASHINGTON MUTUAL BANK, HENDERSON, NEVADA (the "Receiver"), http://www.fdic.gov/about/freedom/Washin...
4. JPM 24 Sept 2008 letter to dazed and confused FDIC staff, not mentioning fsb by name, however, like the REITs, "We also plan to immediately merge the subsidiary thrift into Chase Bank to consolidate the business in one legal entity and realize operational and system efficiencies." http://wmish.com/docs/gov/FOIA_I/JPMorga...
5. Immediately September 25,2008 - JPM wraps up in a pretty bow WMB/WMBIFSB Kathryn V. McCulloch Senior Vice President and Associate General Counsel JPMorgan Chase & Co. 277 Park Avenue, 1 9th FLOOR New York, NY 10 172
Re: Applications for JPMorgan Chase Bank, National Association, Columbus, Ohio ("JPMCB"), to Acquire Assets and Liabilities from Washington Mutual Bank, Henderson, Nevada ("WMB"), and to Merge Washington Mutual Bank FSB, Park City, Utah ("WMBIFSB"), a subsidiary of WMB, into JPMCB; and for Chase USA, National Association, Newark, Delaware, to Acquire from JPMCB Certain of the Assets and Liabilities that JPMCB Acquired from WMB Application Control Numbers: 2008-ML-02-00 1 1, 00 12, 00 13
Dear Ms. McCulloch: The Office of the Comptroller of the Currency ("OCC"), for the reasons discussed below, hereby approves the applications (1) of JPMorgan Chase Bank, National Association, Columbus, Ohio("JPMCB"), to (a) acquire assets and liabilities from Washington Mutual Bank, Henderson, Nevada ("WMB"), and (b) to acquire by merger Washington Mutual Bank FSB, Park City, Utah("WMBIFSB"), a subsidiary of WMB; and (2) of Chase USA, National Association, Newark,Delaware (CUSA), to acquire from JPMCB certain of the assets and liabilities related to the credit card accounts acquired by JPMCB from WMB. This approval is granted following review of the application, other materials you have supplied, and other information available to the OCC, including commitments and representations made in the application and by representatives of JPMCB and CUSA during the application process. As discussed below, the transactions may be consummated immediately upon approval.
Of course, that gets us this: "The Court disagrees with the Plan Objectors. The collapse of WMB itself demonstrates that bank deposits (especially in the amount of $4 billion) may not be easily collectible without resulting in another bank collapse."
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