you better be sitting down................
source: Christopher Whalen, of Institutional Risk Analytics:
"J.P. Morgan got a great deal on WaMu, which it bought out of receivership for 3 cents on the dollar. Every time WaMu does a foreclosure, J.P. Morgan makes money. WaMu's a beautiful thing."
How is that foreclosure is a beautiful thing? (for our community, our country, the tax payers, anyone other than Chase?)
I drift to the cut of Slim Pickens yellen' Yaaaaahooo while riding the H-Bomb to global oblivion in Dr Strangelove. Is that the course we are now charting?
full CNN article
http://fastforward.blogs.fortune.cnn.com/2010/03/30/pf/jpmorgan_faceoff.fortune/index.htm?postversion=2010033106
http://en.wikipedia.org/wiki/Dr._Strangelove_or:_How_I_Learned_to_Stop_Worrying_and_Love_the_Bomb
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