Go Back  The Hull Truth - Boating and Fishing Forum > BOATING FORUMS > Dockside Chat
Reload this Page >

Wa Mu sues FDIC for over $13 billion

Notices

Wa Mu sues FDIC for over $13 billion

Old 03-21-2009, 11:53 AM
  #1  
Senior MemberCaptains Club MemberPLEDGER
Thread Starter
 
Join Date: Dec 2004
Location: Not in Texas
Posts: 10,213
Likes: 0
Received 6 Likes on 4 Posts
Default Wa Mu sues FDIC for over $13 billion

Washington Mutual sues FDIC for over $13 billion


NEW YORK (Reuters) - Washington Mutual Inc, the failed U.S. savings and loan, has sued the Federal Deposit Insurance Corp for well over $13 billion in connection with the loss of its banking operations, which was acquired by JPMorgan Chase & Co.

In a complaint filed with the U.S. District Court for the District of Columbia, the thrift's former parent accused the FDIC of having on January 23 made a "cryptic disallowance" of its claims, prompting the lawsuit.

It also accused the FDIC of agreeing to an unreasonably low price in arranging the a $1.9 billion sale of the banking business to JPMorgan on September 25, when regulators seized Washington Mutual and appointed the FDIC as receiver.

http://www.reuters.com/article/newsO...52K1K620090321



Where does the FDIC get it money from -- specifically, that $13 billion, or part of $13 billion, it will prob be made to pay???

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information -

Copyright © 2021 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.