The FDIC is not misleading anyone by not reporting assets in Safe Harbor and Legal Isolation.....ie mortgage, credit card, and other assets pledged (not sold per prospectus') to ABS, RMBS, MBS securities, whose income feeds tiered certificate ownership that WMI/WMIIC owns, as was a regulatory requirement, that they have significant skin in the game, of what they securitized and sold.
SAFE HARBOR and LEGAL ISOLATION = Off Balance Sheet. Perfectly legal way to hide assets in plain site, every day. Bankruptcy and creditor remote.