JP Morgan (JPM) and Washington Mutual (WM) are having "advanced talks," says American Banker (via DealBreaker). No word on price, but given WaMu stock's ongoing flaccidity, we assume they're not talking about a major takeover premium (especially because, if JP Morgan waits, they'll probably get it for less.
Also highly unlikely that the government's involved, given Paulson's hard-ass stance toward Lehman.
See Also: JP Morgan Eyeing Clobbered WaMu
