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jerrylev

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jerrylev

Re: katekir1234 post# 520332

Monday, 05/28/2018 10:42:35 AM

Monday, May 28, 2018 10:42:35 AM

Post# of 730006
Kate, first you admit that FDIC has escrow money and it just take time to distribute.

Secondly, FDIC is just like any private company. It has a budget and limited staff and not counting liabilities. It has to close down the seizure it made so that it can make the next seizure. WAMU is the largest and most known seizure but there are hundreds of seizures made by FDIC per year and nobody has ever heard of.

The reason it takes so long to close WAMU seizure is that it is a complex bank which hided money everywhere and then FDIC has to use a war of attrition to wear out the bondholders for instance so that they will accept a settlement.
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