Wow! A 119 year old bank, WaMu has been seized by the government and sold off to JPMorgan. A major consolidation is happening in our financial markets/banking system. And they just built a WaMu location a block away from me, set to open next month.
JPMorgan to buy Bear Stearns for $2/Share, with help from the Feds. Folks on top thought it would be ok to give out mortgages and credit/loans to people who couldn’t afford it. Now, we’re paying for the cockiness, greed, and stupidity of the elite.