Wednesday, September 17, 2014 5:53:49 PM
The correct answer to Carguy’s question is that the presiding judge was correct in her statement that she did not want to use up funds for a lengthy EC investigation. The funds she referred to were funds that reflected the value of the bankrupt estate. The $350B+ value of the mortgages was and is exempt from the open court bankruptcy. The FDIC-R, not having to abide by bankruptcy rules, should be liquidating the exempt assets and paying valid claims with any money received. Assuming there is anything left over, it should be returned to the Liquidating Trust, and enter the waterfall.
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