The Deleware Court of the Honorable Mary Walrath is beginning to peel back the onion revealing the conspiracy by the FDIC and JP Morgan Chase to fraudiently convey Washington Mutual Bank to JP Morgan Chase in September 2008. This plot, discovery documents reveal, began two years previously with JP Morgan Chase forming "Project West" to begin planning how to aquire Washington Mutual Bank. A very talented reporter for the Peuget Sound Business Journal named Kristin Gind announced this month that she is taking a sabbatical to write a book using documents made public through the recent Senate Special Committee hearings.
These documents put the fdic in the center of this story. It seems the fdic still has a big liability on Fraudulent Conveyence since their charter requires them to maximize the value received for the estate. Even if they continue to play games about the seizure the fdic failed to sell wamu for a fair value due to what seems a defective or corrupt auction process. The fdic also has liability for it's apparent intereference and harmful actions when Wamu was trying to sell itself and on those grounds merit discovery. Now, in court, the fdic is attempting to muddy the waters regarding the wrongful seizure by claiming that the OTS, not the fdic seized the Bank.
We will find out in the next two weeks whether Jamie Dimon of JP Morgan
will capitulate and buy out WAMUQ through a fair settlement offer for the stock or continue to try to push through the deal he made with the Debtors which leaves out the shareholders and the bond holders.
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About Me
- Jack B. Goldman
- I live in a 100 year old Row House in Brookline with my wife and cat. We raised three daughters in this house and will probably end up haunting it.
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