CEO Jamie Dimon to FDIC: JPMorgan Chase’s fight over Washington Mutual is far from over

[mahatmakanejeeves]

CEO Jamie Dimon to FDIC: JPMorgan Chase’s fight over Washington Mutual is far from over
http://www.washingtonpost.com/business/economy/ceo-jamie-dimon-to-fdic-jpmorgan-chases-fight-over-washington-mutual-is-far-from-over/2013/11/20/b74d1864-51f7-11e3-a7f0-b790929232e1_story.html

By Danielle Douglas, Published: November 20

As part of its $13 billion settlement with the government this week, JPMorgan Chase agreed to abandon a bid to have the Federal Deposit Insurance Corp. absorb some of the losses on faulty mortgage securities sold by Washington Mutual, the failed bank it bought out of receivership five years ago.
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The question of who bears responsibility for WaMu’s legal liabilities has been a point of contention since JPMorgan scooped the bank out of receivership in 2008. JPMorgan argues that the FDIC agreed to take on some of those liabilities, a claim the agency denies.
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But in a call with analysts Tuesday, JPMorgan chief executive Jamie Dimon made clear that the battle with the FDIC is not over.
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Dimon’s statement arose out of a question about a dispute with 21 asset managers, pension funds and insurance funds that invested in residential mortgage-backed securities trusts issued by JPMorgan, its Bear Stearns unit and WaMu. ... Last week, the institutional investors reached a $4.5 billion deal to settle claims tied to JPMorgan and Bear Stearns, but the agreement did not cover any WaMu securities. That’s because JPMorgan is still needling the FDIC to absorb those liabilities, Dimon said on the call.

WaMu failed in September 2008. I have a stake in this, as I owned some of the common stock. At one time, it was trading for nearly $50 per share. The price shown below probably represents the effects of a reverse split. I can't remember now. I don't want to remember now.

WMIH share price
http://quotes.wsj.com/WMIH

Washington Mutual
http://en.wikipedia.org/wiki/Washington_Mutual

Today is the Fifth Anniversary of the Collapse of Washington Mutual
http://www.democraticunderground.com/111641127

[tridim]

1. JPM Chase acquired my mortgage for $0.00 from WaMu when they folded.

No paperwork was ever signed over to JPM Chase. Yet when they sold my foreclosed home, they kept all the money.

Pretty good gig if you're a massive criminal enterprise like JPM Chase and happen to be above the law.

I did receive some settlement money, but I still want them to be punished for that particular scam. Assets have value, you can't just assume them without a legal transfer.