And what exactly do holding companies do or hold????????????
As a general rule they hold cash generating assets in their portfolio's , to be reinvested into or cash generating vehicles , thus the nomenclature """HOLDING COMPANY""".
Have said before I am part of a bank holding company in southern OKLA , that family started.
The holding company builds a building and "LEASES" the building to the banks and via their loans the banks generate money for the holding company through their profits.
I still to this day question why a bank the size of WAMU would not be as smart as a small community bank and do the same with all of their properties as well.
and its all about adding up the pennies and the quarters and $$$$$$$ will take care of themselves.
What about as I have said before, WAMU's ATM machines? Average ATM has $50,000 in it , and costs some $90,000 alone.
Let's say for gines and giggle they had 1500 ATM's.
Why does the FDIC still hold property(buildings), MAYBE JUST MAYBE after transferring many of the buildings , they found that WAMU via title owns the buildings? OOOOOOOOOOOOPS enter again SHELA needing far reaching powers over banks held by holding co's
ADDED BELOW
<<<<<<<< Sorry it just hit me I am wrong with part of this statement
Our holding company CREATED " XXXY PROPERTIES" and XXXY PROPERTIES pays me a monthly check for the rentals of these , BUT
our holding COMPANY solely owns XXXY PROPERTIES , it's called corporate VEIL ........and done for a reason. Again if a small community bank in SOUTHER OKLA knows to do this ,I would wager so did WAMU.
And what about all the PROPERTY CO's that were in WAMU's list of subs , anyone ever see what those co's held within them?????????
NOPE because they are PRIVATE co's not public ,so short of checking every county's records you'd never know
