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Dude, that quote doesn't apply.
The receivership is still open and the final balance sheet has not been provided.
We are waiting to see the details from the FDIC-R and they have not been released.
WMB had zero credit default swaps and that's a FACT.
Read the 10Q in 2008 or the 10K from 2007. They didn't have such crap on their balance sheet.
This is issue is not debatable and am not gonna waste my time. I got bigger shadows to fry.
Dude, Notwithstanding.
I'll bet you a DIME that the 99 trusts and several other assets would be returned by the FDIC-R to the estate.
Dude, focus.
That recovery estimate was an opinion and I think it's conservative.
I'll bet you a DIME that your recovery estimate is way off and totally wrong.
Lol you must be kidding. They had financial weapons of mass destruction in trillions of dollars of credit default swaps.
WAMU did not have any type of esoteric instruments or securities and no credit default swaps.
We all know who was a risk of getting ruined.
Dude, if everything had been resolved then provide the final receivership balance sheet.
If you can't then your summation is factually incorrect and baseless.
Dude, focus.
The settlement with DB does not negate, extinguish or release the FDIC-R of the WMILT claim.
Notwithstanding, another step forward towards the resolution of the receivership.
Before dancing at the endzone you need to look back because there's a flag (unreleased claim) on the receivership play.
Dude, once again focus.
The settlement was for the DB claim. I just gave an example why JPIG received a payment.
This settlement does not erase, extinguish or release the FDIC-R of the estates claim.
Dude, this things are clear and easy to explain. Nothing complicated here.
Dude, here we go again that's not what the 8K stated.
We have not seen the final settlement terms. The payment to JPIG could have been management fees accrued from managing the securities.
Dude stay focused, JPIG is not gonna manage the assets for free.
You are exactly right with your assessment and presentation of the language.
There should no confusion.
Thanks for the excellent work.
GLTY.
Dude, Notwithstanding.
SPEED is not the context of Hotmeat's post.
You got to stay within the context of discuss. The specific language in the GSA is clear as mud.
Dude, of course there is.
Notwithstanding, how's that release language coming?
The FDIC-R was not released.
Dude, how many times are we going to tell you the claim is not ripe.
Dude, you didn't provide any snapshot of the release language.
All you posted was your opinion.
If you are ready to post the pdf snapshot of the exact language for the board to see instead of the back and forth opinions then it's a waste of my valuable time.
Dude, Notwithstanding.
We are waiting for the copy and pasted section of the RELEASE LANGUAGE.
I have the section ready and we can compare pasted sections of the pdf document so we can put the question of the release to rest.
Dude, we cannot sue the FDIC-R because our claim is not RIPE either under the takings or breach of fiduciary claims.
We've discussed this several times.
Dude, Notwithstanding.
Please paste and provide the link stating the Final Receivership Balance Sheet and the Book Value of the assets.
If not your so-called facts have no merit.
While you are at it, where's the link and image of the Release Language?
Dude, I have the image of the language ready and I know what it states and you can post yours and I post mine.
You already know the keyword LOL; NOTWITHSTANDING no ambiguity. The language is not debatable.
Dude, Where's the BOOK VALUE?
Didn't you read Article XII of the P&AA?
The receivership is still ongoing.
Dude, Notwithstanding.
Your assertion of zeros from the FDIC-R is not backed the FACTS.
The receivership is still ongoing and the FDIC-R was not released. Therefore, the receivership balance sheet is still in flux.
Until the receivership is closed, your assertion of zero payments is false and without merit.
Dude, Notwithstanding.
You can't get past the release language clearly stated POR 7.
If you can't post the specific language, I will do you the favor.
Dude, provide your supporting documents that FDIC-R was released.
Notwithstanding is the key word.
No need for a long response, post the link and picture.
Dude, Notwithstanding.
The language requires no complicated interpretation or analysis.
Notwithstanding, the GDIC-R was NOT RELEASED.
Dude, NOTWITHSTANDING.
I've provided direct language from filingS stating the the FDIC-R was not released.
Do you have a link to prove your assertion?
Keyword, NOTWITHSTANDING dude.
Dude it's elementary that FDIC-R has not been released.
WMBFSB is not the same as WMB.
Very elementary information.
Simple answer.
Nothing can happen until the FDIC-R closes the receivership balance sheet.
Dude, the pesky little FACTS you need to deal with.
Why was the FDIC-R not released?
Dude, you need to ask yourself 2 simple questions;
1 - Why was the FDIC-R not released?
2 - Why hasn't the FDIC-R not closed the books almost 8 years after the receivership?
We have a status report coming soon on DB settlement negotiations.
Exactly and correct.
The takings and breach of contracts/Fiduciary claims cannot be pursued at this time.
GLTY.
Dude, you are misinterpreting the clear Language in POR 7.
It clearly states notwithstanding and states the release language.
The direct quote has been posted over and over again and the language is unambiguous and not complicated.
The FDIC-R has not been released and the books have not been closed.
Stay tuned and watch the DB claim payments by JPIG and return of holding company assets.
Dude how many times does it have to reiterated that the FDIC-R has NOT been released.
The claim against the FDIC-R is not ripe. If the FDIC-R closes the books then we can talk. For now the receivership is still open.
Dude, He was denied because the examiner never got access to the books. Clearly stated in the report.
There was not a single deposition and Jaime was only met for a discussion instead of being under oath.
Lol dude since you always requesting documents, provide the filing stating that the FDIC-R was released?
If no documentation is is provided then they are not released.
Do you realize that the FDIC-R was NOT RELEASED?
Are you claiming that WMBFSB is the as WMB the main bank?
You need to understand the difference between segment/subsidiary reporting and consolidated financial statements.
The financial statement provided was not for WMB and under financial reporting standards, you cannot claim numbers from another segment unless the value is shared and the percentages are reported.
Like I said before, you cannot explain away the numbers.
Lol dude you can't be serious.
The pleasure is mine.
I have more bullets. Ask and ye shall receive.
http://www.usbanklocations.com/washington-mutual-bank-fsb-33891-financial-info.shtml?t=assetsliabilities
Totally wrong wrong wrong.
The cash at WMFSB were not deposits. They were net assets look at the filings.
IMO, the cash was held on behalf of the holding company.
If your in doubt I'll supply the WMFSB report.
Exactly, that's why I continue to believe that the initial transaction was for JPM only buying the servicing rights.
After the deposit liabilities and and administrative expenses are covered, everything else comes back to the estate.
GLTY.