Hank Paulson: Dimon KNEW he was not indemnified, by the FDIC, on the WaMu acquisition

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Hank Paulson: Dimon KNEW he was not indemnified, by the FDIC, on the WaMu acquisition

Hank Paulson: Dimon KNEW he was not indemnified, by the FDIC, on the WaMu acquisition

AND Jamie KNEW that at the time…

 

 

 

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11 Responses to “Hank Paulson: Dimon KNEW he was not indemnified, by the FDIC, on the WaMu acquisition”

  1. Charles Reed says:

    All is not disclosed about the WaMu deal as Wells Fargo was and still is servicing the remainder of 1.3 million government insured loans that WaMu placed in Ginnie Mae pools.

    Wells Fargo needed to use forgeries to foreclose on these loan and the FDIC has let down troops who were not even process for modifications, because trickery was needed to funnel money to the Federal Reserve Bank for the fraudulently put together securities!

  2. Rob Harrington says:

    Paulsen -JPM Chase had a weekend to make a decision to acquire WAMU in 2008? This is a bit disingenuous in that JPMorgan Chase had moles inside of WAMU since 2005 with Steve Rotella and other major ex-JPMorgan Chase executives while Jamie Dimon was investigating the purchase of WAMU for 3 years as Jamie. Jamie made an easy decision to steal WAMU for virtually for free to protect the FDIC’s interests.

    The Forbes article states, “JPMorgan, which has long coveted WaMu’s deposit base and presence in California, Florida and other locations where it does not have a meaningful branch network, is getting the bank for a song. It will pay $1.9 billion to the Federal Deposit Insurance Corp. and lay claim to $307 billion of assets and $265 billion of deposits. It will write down more than $31 billion in the value of toxic mortgage assets at the start and add another $3.6 billion to its loan loss reserves. The FDIC’s insurance fund will not take any loss from the seizure of Wamu, but JPMorgan won’t be taking on the holding company’s debt.
    http://www.forbes.com/2008/09/26/wamu-jpmorgan-fdic-markets-equity-cx_lm_0926markets1.html
    The WAMU/JPMorgan Chase deal was a collosal insider trading deal (coup d’tat) that the GOV allowed to happen…

  3. Rob Harrington says:

    ..and the scam continues for defrauded WAMU homeowners… http://www.nationalwamuhomeownerssupportgroup.com

  4. nydeemarie says:

    Some fear the FDIC, under pressure from the Justice Department to join a global settlement, might agree to assume liability, a move that would effectively force another government agency to absorb billions of dollars in losses [...]

    Read more at http://www.nakedcapitalism.com/2013/10/david-dayen-justices-deceit-on-the-jpmorgan-settlement-and-why-ed-demarco-should-get-some-apologies.html#mZeYZv5qtxAbZyCA.99

    How can an agency just agree to assume a taxpayer liability?

    Isn’t it only congress that controls the public purse?

  5. Well as some of you know long before Chase or the work “whistleblower” put next to my name on a front page changing my life for ever I was VP of Enterprise Ops at WaMu. Before you get excited I at that time was working as a Six Sigma Black Belt running around the bank and the country taking disasters and OTS findings in departments and working my Six Sigma Magic and re-enginerring it new systems re-train and put it 100% compliance and on to the next. Did you guys read Matt Taibbi’s new best seller “The Divide”? I am the whistleblower in it and chapter 8 is my story and he really did it well. Some WaMu items I didn’t know he investigated and validated and even I was shocked my some of the things.

Trackbacks/Pingbacks

  1. [...] These frauds destroyed WaMu.  Dimon made the decision to buy WaMu – and to do so without receiving indemnification from the FDIC for any losses JPMorgan might suffer due to WaMu’s massive [...]

  2. [...] These frauds destroyed WaMu.  Dimon made the decision to buy WaMu – and to do so without receiving indemnification from the FDIC for any losses JPMorgan might suffer due to WaMu’s massive [...]

  3. [...] These frauds destroyed WaMu.  Dimon made the decision to buy WaMu — and to do so without receiving indemnification from the FDIC for any losses JPMorgan might suffer due to WaMu’s massive [...]

  4. [...] These frauds destroyed WaMu.  Dimon made the decision to buy WaMu – and to do so without receiving indemnification from the FDIC for any losses JPMorgan might suffer due to WaMu’s massive [...]

  5. [...] These frauds destroyed WaMu.  Dimon made the decision to buy WaMu – and to do so without receiving indemnification from the FDIC for any losses JPMorgan might suffer due to WaMu’s massive [...]

  6. [...] These frauds destroyed WaMu.  Dimon made the decision to buy WaMu – and to do so without receiving indemnification from the FDIC for any losses JPMorgan might suffer due to WaMu’s massive [...]


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