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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: MulhollandDrive who wrote (150496)9/25/2008 7:26:01 PM
From: Think4YourselfRead Replies (2) of 306849
 
JPM is buying THE DEPOSITS of WaMu, and some of the branches, not WaMu. Looks like the shareholders are getting zip.

thestreet.com

JP Morgan Chase(JPM Quote - Cramer on JPM - Stock Picks) will reportedly buy the deposits of troubled bank Washington Mutual(WM Quote - Cramer on WM - Stock Picks), as well as some WaMu branches, in a deal brokered by the federal government.

The Wall Street Journal's online version reported late Thursday that the transaction would not affect the funds of the Federal Depsoit Insurance Corp.

JP Morgan will offer more details in a conference call at 9:15 p.m. EDT.
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