WaMu in Crisis - Fed Takes Action

WaMu has sought and received a waiver from TPG that will allow them to raise more capital, effectively diluting TPG’s $7BB Investment in WaMu. This is completely counter to Wamu’s announcement that they were Well Capitalized only 5 days ago…

Un-coincidentally, one tip that has come in already today from a confidential source who states that there has been “unusual withdrawal activity” at a small retail branch of WaMu in Washington State, and that could signal WaMu may be experiencing the beginnings of a Bank Run... it was not what would be characterized as severe, but it was “abnormally large.”

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Continued Rumors of a JP Morgan Buyout, but as of this post, I still have heard nothing solid. I just got off the phone with a JP Morgan contact in Florida who believes “Jamie Dimon will wait and let the dust settle a bit prior to making his next move,” even with the threat of other aggressive takeovers rumored to be brewing at Wells Fargo.