This would have been big news, once upon a time.
But this news has been expected for a while, and today is also Bailout Blowup Thursday.
Anyway, looks like FDIC may have avoided losses on this one(?)*, WaMu debt and equity holders get zeroed, and JPM takes on the crap loans with the great deposit base. If Sheila Bair did get away without taking any losses, that's a hell of a trick. Good on ya, Sheila!
UPDATE: * The FDIC may take no losses, but if Paulson gets his way, the taxpayer will take the losses from JP Morgan.
UPDATE: Edited to remove the guy's name. I hope nobody harasses him or his employer. He was good-natured and his sign was innocuous a...
Gavin Newsom's insane new executive order commands Californians to stay in their homes "until further notice" "except as...
This is just pathetic. WSJ : Gold is, in fact, a poor hedge against inflation. Accounting for changes in the cost of living, gold has re...