The True Story of The Downfall of Washington Mutual: Facts That Must Be Addressed

Tags:: Wamu Washington Mutual JP Morgan FDIC Federal Reserve Jamie Dimon Bank Bank Failure Stocks Shareholders Wamuq

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By: Revelations Media
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Updated: 13-Nov-08
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Added: 14-Nov-08

On September 25th Washington Mutual was seized by the FDIC and sold to JP Morgan for 1.9 billion dollars. WaMu was clearly in the wrong, but was there actually a reason for the bank to be seized and for shareholders to be wiped out... or was this caused by collusion between JP Morgan Chase, The FDIC, and the Federal Reserve?

Was Washington Mutual trying to auction itself off? Yes. But at the same the time the FDIC was literally going behind WaMu's back looking for any deal it could get, thus heading off any opportunity for WaMu to sell itself at a respectable price.

As of November 12, almost 2 full months since Washington Mutual was seized and sold, they still have not been given back their books and records so as to be able to file simple documents that were due back in September. For Some reason JP Morgan refuses to return the files and documents. Why would that be?