Monday, April 16, 2018 12:54:46 PM
All of those rich and powerful guys are beer and golf buddies of each other. So back in 2008 when Jaimie first stole WAMU, he already had in mind with what do do with WAMU massive mortgage, some he "bought" for 1.9B, some he has to pay for with extra money, and some he didn't want but he has to manage them while FDIC finds a buyer. So Jaimie already has in mind the CEO of KKR to do something together. Between 2008 and 2012, it was his struggle to keep this assets out of the shareholders because they have the tendency to want their company back. And then in 2012, the shareholders signed release and forgive him everything, and so we are no different from the creditors as he doesn't care who will own or run his assets as long as he got no trouble.
Remember back in 2012, it was already stated that WMIH will be part of our recovery. And so my guess is that escrow will get less than 10B back and the rest of the recovery will come from from the WMIH stock.
So in 2013-2014 or so, KKR already got involved but wait until 2018 to really start moving. I don't know all the mystery of this saga but it was stated several times that 3-4 years after KKR got involved or 2018, is when everything will go fast. 2018 could be 10 years after bankruptcy or 4 years after the first change of ownership, or ,,,. who knows, but 2018 is the magic year.
KKR CEO and Jaimie and Citi, DB, even Bonderman, etc. they are all beer and golf buddies. "I help you in this deal and you help me in another deal". We shareholders, are just riding along with those guys.
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