Wamu Wants Fed to Turn Over Docs in Collapse Investigation
Reuters
December 15, 2009
- A d v e r t i s e m e n t
Bankrupt holding company Washington Mutual Inc asked a federal court to compel the U.S. Federal Reserve, U.S. Treasury and more than a dozen others to turn over documents relating to its collapse in 2008.
The company wants to investigate discussions between JPMorgan & Chase Co, regulators, competitors and rating agencies it said led to the seizure of Washington Mutual, or WMI, according to a filing in bankruptcy court on Monday.
It said the alleged misconduct includes JPMorgan “disclosing confidential information, in violation of the confidentiality agreement, to government regulators, ratings agencies, media and investors in an effort to harm WMI by driving down WMI’s credit rating and stock price.”
Washington Mutual said it needs to determine if it has valuable claims against regulators and others that could be pursued on behalf of its creditors.
