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Wasn't this a famously bad transaction for JPM?

This retrospective analysis (1 year after the transaction) shows it was probably a reasonable, although not great, deal: https://www.fool.com/investing/general/2009/09/25/jpmorgan-a...

Chase getting a whole bunch of branches in the Southeast and Washington state for practically free probably left them better off in the long run.

it was a tiny deal in terms of the outlay, and I think it was positive to natural long term. not a very risky move for JPM