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.
Submitted by qrswave on Fri, 2008-09-26 17:59
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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!
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.
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.
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.
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.
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."
Complete and utter bullshit.
WaMu was organized after the great fire in Seattle.
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.
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.