WaMu on the chopping block: Can JPMorgan Chase really turn this bank around?

It was just a matter of time before banks started showing up on the auction block. The latest round of industry press indicates that WaMu may be the most likely candidate. There appears to be some synergy for JPM in this proposed scenario and it comes at a time where WaMu is running out of options. If JPMorgan Chase can actually turn Washington Mutual around this may come off as one of the better acquisitions in recent memory in terms of reasonable valuation.

Ahead of the Bell: JPMorgan Chase
Analyst Says JPMorgan Chase in Position to Make Major Acquisition in the Near Future
http://biz.yahoo.com/ap/071211/ahead_of_the_bell_jpmorgan_chase.html?.v=2