EXCELLENT TIME TO READ FDIC-R MANDATE...
MANDATED; but just NOT ENOUGH ASSETS...
...is the point.
Citation of the FDIC-R mandate is fine and dandy; easy reading. Cowboy up.
That is the process for all receivership's. It is not rocket science.
In this receivership, they are $11B short out of the gate, JPM has 31 claims for billions to date and the Deutsche Bank $13 billion isn't even there yet. Cowboy down.
They ARE following the 'mandate.
They DON'T HAVE ENOUGH ASSETS.
The Receivership cannot pay more than it has.
Period.
So, back to the first step, "WHERE IS THE RECORD OF THE TENS AND TENS OF BILLIONS OF ASSETS THAT THEY NEED (*) TO SATISFY ALL FDIC-R CREDITORS ABOVE "SHAREHOLDERS" (which is another abandoned hurdle all by itself)?"
(*) Please, no reference to message board 'facts; there are $11 BILLION of unpaid HEDGE FUNDS owners with the highest levels of attorney, CPA's and financial analysts who (believe it or not) are not going to let any receivership funds ever be or remain hidden.
Yet the WMB Sr. bonds are now severely downgraded, and the Jr. bonds valueless.
The king of the crimson court says "follow the big money." Yet, when it comes to the explanation for why "those big money assigned no market for WMB Jr.'s," the ACTIONS of big money are "now to be ignored."
Incongruent, inconsistent and defense of inaccurate ASSERTIONS proven wholly incorrect remain incomplete; such thinking duality.
Nate Thoma, Mike Willingham and the Equity Committee(s) worked very hard. They took ACTIONS. They didn't "theorize" in WORDS only. The WMILT, with one of us (Doug) and Mike, have worked to monetize every asset and minimize every claim in my opinion; hopefully, there will be something left after the PIERS are settled.
The PIERS were a hybrid, determined to be DEBT by the court, a creditor. They were originally, and secretly and in subterfuge, to GET THE REORGANIZED DEBTOR with the unrestricted NOLs for stock in lieu of creditor cash ($140M).
NATE stopped that.
The EC "taxed up."
In Mediation, Mike Willingham "took it from them."
That is the true set of facts, not a story or fantasy.
It is not just a SHELL as the ESCROW-PIERS theorist would purport, with $75M in cash and a WORTHLESS $6BILLION NOL.
Then again, you must OWN WMIH to participate in that SHELL, NOW CAPITALIZED AS ANNOUNCED. Oh, and "that wasn't supposed to happen was it? WMIH was to be capitalized by 2.5% of the tens to hundreds of billions the ESCROW-PIERS theorist purported. Just another ASSERTION proven wrong by the FACTS.
