The end of the world as we know it.
...and in local news-
http://seekingalpha.com/user/415296-truth-and-transparency/instablog
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By all accounts, JP Morgan Chase (JPM) purchased the whole bank assets of Washington Mutual for 1.88 billion in September of 2008. Anyone would agree that 1.88B for a 110 year old organization that had 270 billion on deposit, 29 billion in liquid cash, 2700 banks, 8000 ATM’s, and a credit card company is an unjust deal that deserves scrutiny.
The deal becomes even more unjust when one considers the impact it has to JP Morgan - - the deal creates the nation’s second-largest branch network. A combined network reaching 42% of the U.S. population, with strong positions in attractive markets such as California, Florida, New York, Texas, Arizona, Illinois and Washington. With the assumption of WaMu’s assets, JP Morgan will have $900 billion in deposits, 5,400 branches and 14,000 ATMs in 23 states.
In addition when you closely examine the proposed settlement you’ll see that JP Morgan actually receives monies in the form of 70% percent of a tax return, referred to as tax return 1. That percentage equates to 1.82 B or 2.10 B (depending of the actual returned amount). Yes, it’s shocking but that is the deal that Weil, Gotshal & Manges LLP was able to muster in 18 months - - a deal that did not benefit WMI but gives additional monies to JP Morgan Chase. In fact the JPM’s portion of the tax return basically means that JPM purchased WaMu for nothing, that the amount paid to the FDIC under the P&A and the amount to be received in tax returns is a wash, JPM gets WaMu for free.
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Not if you take the ID chip!
Once again Commufascicorrupitalism commits mass murder by hunger.
What are they talking about? Largest fraud in history?
The largest is in the WH?
FWIW
hhhhhmmmmmm.....
Ruh Roh...
So we’re all screwed?
later
Could just have been Murphy's Law at work!!!
I really, really, really hope this is all BS. If it isn’t my teeth will be worth MILLIONS!!!!!!
The same gold and silver gets sold over and over again to multiple people? Who ever came up with that hare brained idea?
http://www.blogpulse.com/search?query=Gensler&x=22&y=10
Using the above blog (an excellent tool) search engine, Gensler references are present.
What is King World News? Never heard of them before.
Well, take that and add on top of it the thousands of 400oz gold bars that are nothing more than tungsten coated with a 1/8” layer of gold and you got a real dandy problem.
This story needs significant quality sources if it is to be believed. Sounds more like somebody trying to push gold prices. This story does not appear in WSJ nor FT.
Using www.blogpulse.com search Gensler CTFC for a March piece.