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Breakingviews: Jamie Dimon strikes back

Wednesday, December 18, 2013 - 03:15

Dec. 18 - Antony Currie and Reynolds Holding explain what merit there is in JPMorgan’s lawsuit against the FDIC over WaMu and whether the bank's CEO will score a rare victory against regulators.

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So Jamie Dimon is striking back the chief executive JPMorgan scenes of high enough that -- date is crawling -- all I've been looking. The billions of dollars in cash this time he's doing after one of himself rent. You know and take a look at this that going off to. After about NIC failed Juan Lou which the FDIC took over receivership fail bank epic fail to and this is the biggest. I take a serious times failure in history yet. On the same day that the he has he took it over. JPMorgan agreed to buy it you know -- what are you doing -- -- favor but also. Clearly striking a pretty good deal yet so I mean they're buying out of receivership so allegedly global meant to happen and -- a lot of the a lot and it's it's the thing alive to see it but I mean that's a lot. That we we took your deposits -- protect -- liability and to Everett. But that's you know one of those guys as motivated ruling -- arise across this if you look at -- the magic contract you can you can find ways I suppose congress by science but it. And it's looking at it strikes us what that the to ignore how that it didn't let it Saturday. Pretty good case the problem here is has spoken to take over all the liabilities on Omnia looks at records but it didn't say -- wouldn't specify what was on the books and records -- now. You know what we don't know -- And of course JPMorgan says the stuff that we've been sued about from band securitized mortgages and all that's all those big expense of settlements and we've got spam via Guam. We then assume those results were on the books and -- Now there's also the all these -- -- cases where the receiver greens and the line the bank and the actions -- partners in the opposite lawyers. Employee's pre closing 2008. And it's those two provisions that that are sort of content in the -- in the day. Over who -- -- technical century emotions played well thirteen billion in one case. Ileana -- -- some of it so it's I don't know it's. And that is intellectual you know you'd be thirteen -- -- respectability and money and -- of one -- -- started like chump change. All the -- that's his damaged right. If you look at what's been happening to Jamie -- he's been under attack Phil must he must now hotly set itself and -- teaches -- on the web but also all of this movie these movies she's -- in the -- about a system and clearly the regulators and -- But spent a lot of tension there. And you know as you -- I think he's not saying you know this is I've had enough from the national mine mine mine. This advocate for and yeah. You've got to think that if if he's doing it enough to all be she's not regulate this -- -- full this piece of the pop hero today we trapped cooling topped the scallop. It's. The top may be it -- let's. -- -- you go to think he's going to be doing this and -- -- and his -- it is because he thinks is a good chance of winning that and from our you know admittedly quick reading of the situation but that's a good place and maybe this works maybe it doesn't but you know. The fight has been going. And for heroes. On this shows that the bank is not only serious that it tends to wind up you know what will be interesting to see what happens and if anyone in corporate America in the banking sector at least needs some kind of patriots. It's projected on -- diamond. But -- thanks of that will be back with more breaking these two mark.

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Breakingviews: Jamie Dimon strikes back

Wednesday, December 18, 2013 - 03:15