EMAIL DETAILS

Hunter,

The email below is the general introduction email we have used when contacting folks an Capitol Hill. Please let me know if you need anything else.

Thanks,
Nick


Here is text for an all purposes email

You may remember that in September of 2008, JP Morgan bought most of the assets of Washington Mutual Bank for $1.88 billion from the FDIC. This transaction occurred on the same day WaMu was closed and the FDIC was appointed WaMu's receiver. JPM has reported that it has made billions from its 2008 purchase of WaMu from the FDIC. JPMC a TARP recipient, is now claiming an additional $2.6 billion in WaMu tax refunds from the November 2009 stimulus package. Congress expressly carved out TARP recipients-such as JPM-from those who could benefit from the November 2009 stimulus package. JPM argues nonetheless that there is a loophole in the law: Washington Mutual Bank, not JPMC, may claim the stimulus tax relief and then turn it over to JPM. JPM is now trying to obtain the FDIC's consent to a settlement of claims that awards the $2.6 billion in stimulus refunds to a TARP recipient (JPM) and the FDIC is urging a settlement that will permit that result.


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