Maybe the Fed funded the acquisition of WaMu too, only this time they’re keeping it under wraps. Here’s my theory:
– News sites say JPM paid $1.9 Billion and that WM had $307 Billion in assets.
– $125B for $307B in questionable assets, though certainly not all bad, for $0.40 on the dollar
– JPM fronts 1.5% of their own to close the deal
It’s a stretch but a bigger mistake would be for the Hanky-Franky-Bernanke party to stir up so much fear that the rest of the country actually does panic.
