The FDIC [ Federal Deposit Insurance Corporation] seized WaMu , the nation’s largest Savings & Loan who had been hit hard by bad mortgages , and sold it to JP Morgan for $1.9 Billion USD Cash and assumption of $31Billion in Bad Loan Debts [making option adjustable rate mortgage arm loans to the least creditworthy borrowers, who were permitted to pay only a portion of the principle and interest.] – But with WaMu , JP Morgan will have $905 billion in deposits and 5,400 branches nationwide , rivaling Bank of America in size and reach.
I’ll Trade $33 Billion for $905 Billion any day of the week too. Talk about SweetHeart Deals ! How’s That for a Silver Platter.
The Rich Do Get Richer – Money Goes To Money – The Poor Do Get Poorer
WaMu’s shareholders stand to lose billions of dollars. WaMu which reached a record $46 in 2003 , plummeted to 16 cents a share on Friday.
JP Morgan Chase , owned by the Rothschilds and Rockefellers , and one of the owners of the Federal Reserve , is about to take over most of the banks in the US and become the controlling MegaBank.
Who better to own that bank than the Rothschilds , who invented fractional reserve banking (loaning money you don’t have.) Only chumps work for their money. Smart people like the Rothschilds create the money they need out of thin air. This is another New World Order con game to further screw over the people of the world. This is the global mafia at work and there`s nothing good about it.
Analysts say JP Morgan Chase (the Rockefellers and the Rothschilds) will emerge from the bank collapse as the big winner, becoming a megabank. How sweet – you found/own the federal reserve, get the fed to cause a collapse by printing dollars and doling out the credit , then buy up those failing banks for pennies on the dollar using money the Federal Reserve (which you own) gives you – SWEET.