FDIC, JPM Willing to Blame Each Other for WaMu Mess

Karl Denninger submits:

Now we're starting to get into some interesting parts of the legal world, as the FDIC and J.P. Morgan (JPM) are pointing fingers at each other for WaMu's failure. As The Wall Street Journal reports (subscription required):

J.P. Morgan Chase & Co. (JPM) and the Federal Deposit Insurance Corp. traded barbs again this week over which entity should have to face a lawsuit over mortgage-backed securities owned by failed Washington Mutual Corp.

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