Blown Mortgage - Latest Comments in I hate to say it, but I told you so about Washington Mutualhttp://blownmortgage.disqus.com/Mortgage and finance with a sarcastic bentenSat, 27 Sep 2008 12:20:56 -0000Re: I hate to say it, but I told you so about Washington Mutualhttp://blownmortgage.com/2008/09/26/i-hate-to-say-it-but-i-told-you-so-about-washington-mutual/#comment-2658190The only people getting wiped out at WAMU are the shareholders. OK, not completely, they do get a buck and a half or so. The FDIC dodged a bullet on this one. However, there are no more American mega banks like Morgan/Chase to step in and take over.<br><br>If the Citigroup-Wachovia merger doesn't go through then we can expect Wacovia to become a division of a Chinese or Dubai bank.TobySat, 27 Sep 2008 12:20:56 -0000Re: I hate to say it, but I told you so about Washington Mutualhttp://blownmortgage.com/2008/09/26/i-hate-to-say-it-but-i-told-you-so-about-washington-mutual/#comment-2648359The final chapter hasn't been written on WaMu yet.<br><br>Billions in liabilities have been stashed somewhere. I'm not sure this was done "legally". Debt and shareholders may have valid complaints.<br><br>The JP Morgan value case depends on some massive, omnibus bailout plan passing, a-la Paulson. If it doesn't, there will be big fireworks.Aaron KrowneFri, 26 Sep 2008 17:47:16 -0000