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Bearpont Morgan Mutual It Is!

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Maybe! Lehman Brothers's trubs have largely upstaged the fact that WaMu, too, is in the toilet, but American Banker reports that JP Morgan is "in advanced discussions to buy" Washington Mutual, sans government, according to sources familiar with the matter. And yeah, it might fall through, but we registered that one, as well, bitches.
Update: CNBC's David Faber calls BS on the deal.
JPMorgan Chase in Advanced Talks to Buy Wamu [American Banker]