Don't tell any of this to Jamie Dimon.
JPM already stole Washington Mutual from its shareholders, whom he hated. With a C-W bill, JPM with its wamu branches everywhere in the thousands will be one of the main beneficiaries of Fannie and Freddie's business while still keeping its back covered by Uncle Sam. Can't get any better.
Unfortunately for us, the AB piece has a bias -we all know who the author is- and will not help in conveying a sense of objectivity and neutral analysis.