Hints and tips:
...It was our only bidder and was prepared to take over WaMu immediately. Amid the turmoil of that time, the transaction avoided disruptions for WaMu’s customers and was reassuring to the markets....
...JPMorgan is now the largest bank in the US by assets, deposits and market capitalisation, with Chase bank branches in 48 states....
...But the buyout firm’s equity investment was wiped out just a few months later, when WaMu was hit by a deposit run. Regulators shut it down and handed its operations to JPMorgan Chase....
...All the same, says JPMorgan’s retail chief Gordon Smith: “WaMu was a very good acquisition.”...
...JPMorgan Chase has drawn a line under a dispute arising from its 2008 acquisition of Washington Mutual, agreeing to drop its case against the Federal Deposit Insurance Corporation in exchange for a payment...
...JPMorgan Chase had for years been building its retail footprint, adding branches as recently as 2013 to fill out the network inherited through the acquisition five years earlier of WaMu....
...The FDIC’s cases also represent the latest round of fighting between the government and JPMorgan Chase over the carcass of WaMu....
...JPMorgan Chase sued the Federal Deposit Insurance Corporation on Tuesday, striking back against the government weeks after agreeing to pay $13bn to resolve claims that it mis-sold mortgage securities....
...JPMorgan Chase has conceded it will take responsibility for the past misdeeds of Washington Mutual, according to people familiar with the matter, paving the way for the Department of Justice to announce...
...FT EVENING ROUND-UP JPMorgan agrees to shoulder WaMu bill: “JPMorgan Chase has conceded it will take responsibility for the past misdeeds of Washington Mutual, according to people familiar with the matter...
...How Jamie Dimon at JPMorgan Chase must yearn for that kinder, gentler era when bankers’ fines were set in mere single-digit billions....
...However, one person familiar with the matter said that might not stop the bank trying to foist some of the cost on the WaMu receivership managed by the FDIC....
...Is the $13bn settlement between JPMorgan Chase and the US state and federal authorities long-overdue justice for an errant bank, or a shakedown by politicians who went back on their word?...
...This month the final 17,000 of BHP’s 42,000 staff were connected to a software platform put in place over the past six years’ (Financial Times) JPMorgan could avoid costly Bear/WaMu legacy: ‘Under the terms...
...The $13bn settlement JPMorgan Chase has agreed to pay to US state and federal authorities has divided opinion in the US....
...This was in reference to JPMorgan’s acquisitions of WaMu and Bear during the crisis, which were encouraged by the US government to prevent their failure....
...(Financial Times) JPMorgan agrees to shoulder WaMu bill: “JPMorgan Chase has conceded it will take responsibility for the past misdeeds of Washington Mutual, according to people familiar with the matter...
...“We weren’t completely stupid,” Jamie Dimon, chief executive of JPMorgan Chase, said on Friday, explaining that he did not buy Bear Stearns and Washington Mutual without considering legal liabilities that...
...He said he still did not believe the bank was responsible for WaMu’s mortgage security exposures....
...Negotiations between JPMorgan Chase and US officials to resolve allegations the bank mis-sold mortgage securities in the run-up to the financial crisis are focusing on how credit and blame will be distributed...
...The $13bn JPMorgan Chase has agreed to pay to end US government investigations into mortgage bond sales appears just as capricious....
...“People within the firm used WaMu to clip his wings,” a friend of Mr Bonderman says....
...“Always remember when you buy stocks, you’re taking a risk,” says Jamie Dimon, chief executive of JPMorgan, and inheritor of the wreckage of WaMu....
...Goldman is arguing that a New York appeals court decision to allow the suit to go ahead conflicts with the earlier judgment made in the WaMu case....
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