TheStreet.com has reported an email written by a JPMorgan (JPM) investment banker that describes a meeting that included CEO Jamie Dimon and Banco Santander Chairman Emilio Botin. The discussion has raised some eyebrows because it seems to suggest that both banks were interested in pursuing the same acquisition targets, the likes of WaMu, SunTrust, Wells Fargo and others.

Some may see it as a clear suggestion that Banco Santander would hire JPMorgan if the latter would choose not to pursue certain targets. It would be hard to hang a case on that email alone. But TheStreet.com raises another question: Did JPMorgan violate a confidentiality agreement related to WaMu. A confidentiality agreement apparently was signed in March 2008 between JPMorgan and Washington Mutual. The evidence is inconclusive, but all this does shine an interesting light on how top banks interact with each other. 

For more:
- here's the article 
- here's another article by TheStreet.com on the email about the meeting

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