Our financial system is crumbling this week.

[slide_into_first]

Part of that is because they were given assets of failed banks, I think.

[docellis]

Part of that is because they were given assets of failed banks, I think.

given or purchased or?

[slide_into_first]

Well, JP Morgan was allowed to purchase the solvent parts of Washington Mutual for a discount, so I suspect they all got deals from the FDIC cronies.

[docellis]

Well, JP Morgan was allowed to purchase the solvent parts of Washington Mutual for a discount, so I suspect they all got deals from the FDIC cronies.

Was anyone given?

[slide_into_first]

I don't think so that would be too obvious. J of D or HJ might know.

[docellis]

I don't think so that would be too obvious. J of D or HJ might know.

but you just said they were given?

[slide_into_first]

Not for free- just at a great discount for the solvent assets- the insolvent assets went to bankruptcy court.

[TimeForGuinness]

Well, JP Morgan was allowed to purchase the solvent parts of Washington Mutual for a discount, so I suspect they all got deals from the FDIC cronies.

Was anyone given?

Bear Sterns and Merrill Lynch were also bought for pennies on the dollar.

[IMADreamer]

So I've been listening to the Dylan Ratigan show now for a good while and he seems to hammer on two things. The first being the money has corrupted our politicians. duh, and second is that if the big banks were make to have more capitol on hand it would eliminate the chance of another huge bank crisis and stabilize everything. I'm just curious what you guys who know more about the banking system then I do think about that? That seems like a pretty simple solution really.

[longhornbaseball]