Genius

January 13th, 2009

WaMu was dying. WaMu was bleeding cash. JPMorgan Chase steps in and saves WaMu. How do they choose to spend their money? By wasting $375 million to rebrand some of their branches.

JPMorgan Chase & Co. said Tuesday that it will rebrand Washington Mutual’s California branches with the Chase name on March 30.

The overhaul of WaMu’s 708 bank branches will cost $300 million, and another $75 million will be spent opening 20 more Chase branches in California this year.

Genius. Next thing you know JPMorgan Chase will be asking for a bailout.

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