JPMorgan to buy WaMu - Sep. 25, 2008

JPMorgan to buy WaMu - Sep. 25, 2008: "JPMorgan buys WaMu
In the biggest bank failure in history, JPMorgan Chase will acquire massive branch network and troubled assets from Washington Mutual for $1.9 billion."

I had a conversation with a good friend of mine and we had some theory as to why this was happening.

As of this time the Governemt Bailout has not been approved (at least that is what the media is saying).

I believe that this deal is done (WAMU Purchase by JPMorgan & Chase), but they are trying to make sure that we are being included in someway so that it does not look like the government is raping the American people out of their hard earned money.

I think that there are good people in Washington trying to keep the American people interest in play. We will see how this is going to play out and how is going to benefit the American people.

Stay tune as to what this is going to play out at Wall Street.