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JusticeWillWin

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JusticeWillWin

Re: hotmeat post# 430583

Tuesday, 07/28/2015 3:51:29 PM

Tuesday, July 28, 2015 3:51:29 PM

Post# of 730204
Look at the original FDIC press release from September 2008...

https://www.fdic.gov/news/news/press/2008/pr08085.html

They wrote:

JPMorgan Chase acquired the assets, assumed the qualified financial contracts and made a payment of $1.9 billion. Claims by equity, subordinated and senior debt holders were not acquired.



"...and made a payment..." Hmmm...???

Why didn't they write instead:

JPMorgan Chase acquired the assets FOR $1.9 billion and assumed the qualified financial contracts. Claims by equity, subordinated and senior debt holders were not acquired.

"...and made a payment..." Yes, the "Initial Payment" (as required by the P&A) of 1.88 billion!

Definition of "Initial Payment": http://www.homewyse.com/definitions/initial_payment.html

Could be coincidence, but I guess you can nowhere on the FDIC web pages find "acquired all assets FOR $ 1.88 billion"
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