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Why, of all banks, did JPMorgan get the prize???

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The more I read about WaMu's sudden demise and JPMorgan's extraordinary windfall, the more I suspect that there's much more to this fiasco than the mainstream media and its banking masters would like us to notice.

Setting aside JPMorgan's outrageous windfall from WaMu's demise, you have to ask yourself how did JPMorgan in particular manage to buy WaMu's assets as early as this morning -- LESS THAN ONE DAY after the Federal Reserve ordered WaMu's assets seized???

I mean, were there any other offers? Did the Federal Reserve give anyone else an opportunity to make one?

Something stinks to high heaven over here.

And this is the second time this year that JPMorgan swooped down to feast on the remains of one of its less fortunate banking buddies.

Aided by a Federal Reserve guarantee, JP Morgan bought Bear Stearns when it was on the brink of bankruptcy in March.

Coincidence? I don't think so.

Financial historians pointed to a proud history at JP Morgan of acting to avert crisis. The bank's founder, John Pierpont Morgan, was credited with bringing together Wall Street bankers to come up with a rescue package to prop up failing finance houses at the height of a stockmarket panic in 1907. The bill was substantially lower in those days - federal authorities contributed $35m, compared to the $700bn industry-wide bail-out package under negotiation this week.

1907 was a mere six years before the Federal Reserve Act was rammed down our throats.

Just about every commercial bank out there today is a viper, all in cohoots with each other to fleece the average working Joe.  But, apparently, JPMorgan is one of the kingpins of this banking conspiracy.

It's high time that Americans held the Federal Reserve and JPMorgan Chase accountable for their long history of financial shenanigans that has time and again led America down the path to financial ruin.

Oh - one more outrageous footnote, as if all this weren't bad enough:

WaMu's chief executive, Alan Fishman, joined the bank only three weeks ago from a rival, Sovereign Bank. He received a $7.5m signing-on bonus and could be eligible for $11.6m in severance pay.

Bankers get pampered, while workers get the shaft.

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Submitted by qrswave on Fri, 2008-09-26 17:59

119 years to the day.

As a result of 911?

It's like WWII lasting 6 years, to the day.

All white collar criminals and banksters need to be dispossessed and punished.

These sick fuckers must get a kick out of leaving their synbols all over the many crime scenes, matching their malice and greed with ego: maximum iniquity.

Grim Reaper | Sat, 2008-09-27 13:26
supposedly other banks "expressed interest"

in buying all or parts of WaMu before JPMorgan did, according to Bloomberg.

But that's all they say. No details. No information as to how long before the purchase was this so-called interest expressed, nor how much each of the players "offered."

JPMorgan, Citigroup Inc., Wells Fargo & Co., Banco Santander SA and Toronto-Dominion Bank had all expressed interest in buying all or parts of WaMu ahead of the JPMorgan purchase.

Complete and utter bullshit.

WaMu was organized after the great fire in Seattle.

WaMu started as the Washington National Building Loan & Investment Association on Sept. 25, 1889, 119 years to the day before its failure. A fire had engulfed downtown Seattle and residents needed a safe place to put their money, according to a history on WaMu's Web site.

Before the Fed was allowed to waltz in a "seize all their assets" the people of seatle should have been given an opportunity to see how they want to deal with the so-called "crisis"!

Perhaps they might have done something good, like lynch the banksters involved.

 

___________________________

"Money" has no value - people do.

qrswave | Sat, 2008-09-27 13:02
JPMorgan swoops down to feast on sheeps' fiat fleeces

Grim Reaper | Sat, 2008-09-27 12:59
Goldman Sachs is a major stockholder of the Fed too

which is why it'll survive all this, along with J.P. Morgan Chase. Not only survive, but come out six times bigger and richer.

Mr. R.E. McMaster, the publisher of a financial newsletter called ‘The Reaper,’ was able to determine who the Fed’s principal owners were through his Swiss and Saudi Arabian contacts. According to McMaster, the top eight stockholders are Rothschild Banks of London and Berlin; Lazard Brothers Banks of Paris; Israel Moses Seif Banks of Italy; Warburg Bank of Paris; Israel Moses Seif Banks of Italy; Warburg Bank of Hamburg and Amsterdam; Lehman Brothers Bank of New York; Chase Manhattan Bank of New York; and Goldman, Sachs Bank of New York. These interests own the Federal Reserve System through approximately three hundred stockholders, all of whom are known to each other and are sometimes related to one another.

Crimes of Zion | Sat, 2008-09-27 04:28
It's a WWF SMACKDOWN, Rothschilds fighting the Rockefellers

Ladies and Gentlemen, tonight, for your viewing pleasure we have the greatest contest of all times, pitting Lady Lynn Rothschild against David Rockefeller, with the ultimate prize being control of ALL the world's money.

George Soros will be attending to Lady L and David R. will have Hank Paulson as his wing man.

It's a Battle Royale with the loser getting a one-way trip to "Sulphur Estates," owned by the legendary Lou Cypher.

Greg Bacon | Fri, 2008-09-26 20:21
Riddle solved: JP Morgan is part of the Fed as a shareholder

Ownership of the Federal Reserve

For more in-depth analysis of the monstrosity called Federal Reserve, read the lengthy talk by the author of Creature from Jekyll Island G. Edward Griffin.

There you go, JP Morgan's connection the Fed. JP Morgan grabs every collapsing financial service corporation on fire sale to consolidate its obscene wealth.

Nepos Libertas | Fri, 2008-09-26 20:14
JPMorgan and Goldman Sachs are the finalists

It's almost like a tournament of greed and corruption and now we are down to the Final Four - Bank of America, Wells Fargo, JPMorgan, and Goldman Sachs.

JP MORGAN got a 300 billion dollar portfolio for 2 billion!
OY VEY - SUCH A DEAL!

You have to love the charade that the FBI (FoggeddaBoutIt) is now "investigating all these money changers for fraud. I'm sure they will do as good a job as they have done on the Anthrax letters!

P.S.: Wachovia will go in the next few days. They have been a dead man walking for some time.

Claymoremind | Fri, 2008-09-26 20:01