Thar She BLOWS: FDIC Seizes WaMu Sells Deposits to Government buddy JP Morgan!

[socialize_me]

JPMorgan to Acquire Deposits of Washington Mutual

Wow, how much bigger can Goldman Sachs, Bank of America, and JP Morgan get??? Wowzah...

 

[RonPaulVolunteer]

So big they can't be allowed to fail!

 

[socialize_me]

Yeah...crazy crazy stuff...its on CNBC right now, they don't even have a story yet online...just broke a couple minutes ago.

How do you like that?? Washington Mutual's deposits get seized by FDIC yet it wasn't insolvent. 4th Amendment anyone???

 

[ihsv]

J.P. Morgan couldn't take it with him when he went to hell, but I'll bet he's still plenty pleased

 

[Johnnybags]

That's the whole plan

So big they can't be allowed to fail!

Let em get into the deposit base, pay themselves back, go broke and then everyone will support a bailout for mom and pops deposits. I will never bank with any of em. If they acquire my deposit, I 'll go to another bank. None of the investment banks can borrow at under 10 percent so they need to rip off mom and pop depositors and Uncle Ben said its ok. It used to be illegal.

 

[HOLLYWOOD]

Just in!

FDIC siezes WaMu accounts and gives them to their best friend in CRIME, JP Morgan.

I'm glad to see FDIC chairman, Sheila C. Blair is doing a fine job for her constituents at JP Morgan!

 

[LiveFree79]

Just in!

FDIC siezes WaMu accounts and gives them to their best friend in CRIME, JP Morgan.

I'm glad to see FDIC chairman, Sheila C. Blair is doing a fine job for her constituents at JP Morgan!

Haha if those two slobs on the right aren't the poster boys for rich white elites I don't know who is!!!!!!!

 

[ihsv]

Hot dog! She's a big one, Willie!!!

 

[HOLLYWOOD]

One thing straight: JP Morgan is NOT acquiring WaMu deposits...

FDIC seized Washington Mutual accounts/deposits and SOLD THEM (undisclosed/Classified Amount) to their Partner in Financial Crime for the past Century: JP Morgan.

NOTE:

The FDIC will not disclose the amount of the transaction, but my insider knowledge has WaMu depositors accounts valued @ $134 BILLION.

So they are saving the depositors... why? Because the FDIC is OUT OF MONEY!!!

WaMu will now Fail...


It's a creative BAILOUT of another kind... maybe that $100 BILLION JP MORGAN borrowed yesterday?

Love the Secrecy with the TAXPAYERS money and assets.!

 

[forsmant]

How do you sell deposits? I thought those were liabilities...

 

[Fox McCloud]

The Government might as well nationalize the banks and run it the way it wants it; it's just arbitrarily doing things the way it wants now, with our financial and banking systems.

 

[devil21]

Say what? How is this even possible? As far as I know, the FDIC isn't a regulatory agency. How can it "seize" a private bank's assets? Something is missing here.

 

[forsmant]

There is something real fishy with the sale of deposits. The FDIC gets money from JP Morgan and then JP would have 134 Billion in liabilites and 13.4 million in reserves? This does not sound like JP would take that deal as I understand it. Maybe there was no sale and that is why it is undisclosed and the FDIC forced Morgan into taking on the deposits.

 

[nate895]

Say what? How is this even possible? As far as I know, the FDIC isn't a regulatory agency. How can it "seize" a private bank's assets? Something is missing here.

Less than 2% capitalized for on demand deposits.

 

[nate895]

When they all fail, the FDIC will have to get newly printed funds from the fed, which will cause hyperinflation.

 

[Fox McCloud]

Say what? How is this even possible? As far as I know, the FDIC isn't a regulatory agency. How can it "seize" a private bank's assets? Something is missing here.

Because We're the Government -- And You're Not.

 

[mconder]

I guess it's time for me to find another bank.

 

[nate895]

I guess it's time for me to find another bank.

Luckily I transfered my savings to US Bank a couple years back.

 

[HOLLYWOOD]

When they all fail, the FDIC will have to get newly printed funds from the fed, which will cause hyperinflation.

The FDIC already requested $150 BILLION from the FED/TREASURY.

the FDIC is below the law mandated, in my opinion, BS reserves level of 1.15-1.5%


The WaMu accounts are the liquid assets (savings/peoples money) so it's not so much a Liability as it is: JP Morgan received $134 BILLION in CASH accounts.

NOW, That is a TOTALITARIAN OLIGARCHY move by the FDIC and I can't see how they have power to do it.

All the money loaned yesterday (SECRETIVELY) and now this today.

There's something very goofy going on with the Financial Circus of moving money around... everywhere. The FIAT, UpSide Down Pyramid Sheme Monoploy Money system... is coming to it's KNEES!


LOOK for MARTIAL LAW SOON, I mean Dubya BUSH to use EXECUTIVE POWER and Executive Orders!

 

[aravoth]

Wait, what? Did the FDIC just seize Deposits and then sell them to JP morgan? How the fuck did they do that?