Various sources would argue that Chase did in fact purchase a majority stake. Here’s a sampling:
http://www.statesman.com/business/content/business/stories/other/09/26/0926wamu.html
http://www.moneymorning.com/2008/09/26/jp-morgan/
Will Washington Mutual fail by 12/31/08
WSJ is calling it a brokered sale, saying FDIC didn’t pay out anything in the process.
http://online.wsj.com/article/SB122247247562180981.html
Will Washington Mutual fail by 12/31/08