Monday, July 21, 2014 4:51:11 PM
Something to ponder..
WMB Valuations from the FDIC website as of 30 June 2014.
http://www.fdic.gov/bank/individual/failed/wamu.html
see link XII. for bank balance sheet as of 30 June 2014.
https://www5.fdic.gov/drrip/bal/balancesheet.asp (bad link)
FDIC has 2.7b$ funds on the books for WMB of which 1.9b$ is JPM P&A Funds and nearly 800m$ is from the WAMU BK Settlement.
Tax Matters . It is the understanding of the Parties that this Section 2.4 allocates (i) the Homeownership Carryback Refund Amount thirty and three hundred fifty-seven thousandths percent (30.357%) to the FDIC Receiver and sixty-nine and six hundred forty-three thousandths (69.643%) to WMI, and (ii) all other Net Tax Refunds eighty percent (80%) to JPMC and twenty percent (20%) to WMI, and this Section 2.4 shall be interpreted in a manner consistent with this understanding.
Read more: http://agreements.realdealdocs.com/Settlement-Agreement/GLOBAL-SETTLEMENT-AGREEMENT-2854304/#ixzz388c8EhIP
I believe this is the method of which they plan to close the sale of WMB assets.
http://www.fdic.gov/bank/individual/failed/wamu_global_settlement_agreement.pdf
Based upon FDIC Balance sheet Valuations JPM maybe on the hook for another 11.5b$ to clear the FDIC of responsibility of which nearly 8b$ would come back to the WMIHLT estate for the Unsubordinated Debt to pay off the MBS Loans ties to Preferred Shares (P's/K's) which would be split 75/25 with common shares.
GLTA.. Go Escrow Go..
DrR..
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