Thursday, September 25, 2008

After the WaMu Deal: Jamie Dimon of JP Morgan is a Fiend!

He did it again after buying Bear for a song now this deal is even better.

Washington Mutual Inc was closed by the U.S. government in by far the largest failure of a U.S. bank, and its banking assets were sold to JPMorgan Chase & Co for $1.9 billion.

And this is what he gets:

Seattle-based Washington Mutual has about $307 billion of assets and $188 billion of deposits, regulators said. Washington Mutual had 2,239 branches and 43,198 employees.

Plus a solid share of the West Coast market. The man is a machine and it would be nice to own shares in a company run by a canny deal maker like this. I think the banks still living after this mess are going to some of the strongest in the country.

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