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Post# of 728646
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Jestiron

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Jestiron

Re: ez2bl8 post# 120075

Thursday, 11/12/2009 11:17:58 PM

Thursday, November 12, 2009 11:17:58 PM

Post# of 728646
Based on what we know now...neither WMN or WMBfsb failed; however, the knuckleheads at the FDIC are arguing that WMB DID fail and as a result, they lost WMBfsb because they were a subsidiary. Question then, it seems, is....Was WMBfsb also "in receivership" solely because WMB arguably is???

I believe what this PR was suggesting is that the deposits & assets of WMBfsb were NOT under the control of the FDIC even though they sold the bank, as a whole, to JPM, because they were owned by WMB at the time of the seizure.

Did I get this right??? Mordicai? Am I close?

Note: Do not make any investment decisions based on the information provided in my posts; past, present, or future. Only you are accountable for decisions made by you and/or your counterparts.

http://jestiron.carbonmade.com/

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