funny thing

DJ Citi, JPMorgan, Capital One Bid For Chevy Chase -Report

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DOW JONES NEWSWIRES .

Citigroup Inc. (C), JPMorgan Chase & Co. (JPM) and Capital One Financial Corp. (COF) are among the final bidders for Chevy Chase Bank, Reuters reported Thursday, citing sources familiar with the matter. Other banks that looked at Chevy Chase include SunTrust Banks Inc. (STI) and BB&T Corp. (BBT), one source said. "The key thing with that bank is that the asset side is not very attractive, but the deposit side is incredibly valuable because it is in Washington, D.C.," the source said.

Funny part is that it's in Washington D.C. perfect place to piss off lawmakers who have said "We gave you this money to Loan out, not to buy banks. It will be hard for the banks to explain how going after the "Troubled" ones... isn't the same as buying banks out.