XPost: can.internet.highspeed, can.general   
   From: Canuck57@nospam.com   
      
   On 17/04/2010 10:48 PM, JF Mezei wrote:   
   > Canuck57 wrote:   
   >   
   >> I guess they didn't send Obama and democrats enough money to get their   
   >> bailouts.   
   >   
   > These are pre-arranged failures. In the case of Wa-Mu, (Wahington   
   > Mutual), Chase had a deal with the FDIC to acquire WAMU. The second the   
   > FDIC saw that the numbers are WAMU were bad, it closed it, and handed   
   > the bank over to Chase for $1. (or some ridiculously low sum).   
   >   
   > All Washington Mutial shareholders lost a lot of money.   
   >   
   > These deal came out later when Wachovia ended up closed by FDIC.   
   > However, before it could be handed over on a platter for $1 to Citibank,   
   > Wells Fargo made a significant offer to purchase the bank as an ongoing   
   > business (aka: buy shares from shareholders and assume the bank's debts,   
   > whereas Citibank was getting the remains of Wachovia through the FDIC,   
   > like Chase did for WaMu).   
   >   
   > There was a big fight, but in the end, FDIC had to reneg on its   
   > pre-arranged deal with Citibank because the Wells Fargo deal was MUCH   
   > better and the FDIC had gotten egg opn its face when this whole   
   > "pre-arranged bank funeral" thing became public.   
   >   
   > I suspect similar arrangements were made bwteen FDIC and TD Bank in   
   > advance and when everythingf was ready, FDIC sent the men in black to   
   > close the banks and hand them over on a platter to TD Bank.   
      
   Probably.  DC insiders picking who gets assets on the cheap.  But odd   
   that TD would be involved.   
      
   --   
   Time to ask, is our government serving us or are we serving the government?   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)