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Post# of 732887
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Re: jerrylev post# 544774

Tuesday, 10/30/2018 4:24:01 PM

Tuesday, October 30, 2018 4:24:01 PM

Post# of 732887
Yes it is. I believe the $26.43B Net Assets / (Deficit) At Inception the FDIC references in post# 518718 is the same $24B-$27B in assets WAMU (WMI, WMB + all subs) referenced in it's last 10Q on June 30, 2008.

The $40.21B the FDIC refers to as an Asset - Related Equity Adjustment is a deficit, not an asset. The value is in brackets, ($40.21B), denoting a negative value.


I do not understand the "creative accounting" used by the FDIC where the $26.4B is used as both an Asset and a Liability. Here's where CBA09 or another accounting professional would be of great assistance.

25.2 Cancellation of Common Equity Interests:.., on the Effective Date, ALL Common Equity Interests shall be deemed extinguished and the certificates and ALL other documents shall be deemed cancelled.

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