Sunday, May 05, 2019 1:06:12 PM
WMI owns that One Share of WMB (WAMU). The 'Equity Interest' of WMB was abandoned to the FDIC. You own shares in WMI.
WMI is a Holding Company, not a Bank Holding Company (depository institution holding company) and the reason why this was a 5AT and not a true seizure. WMI sued the FDIC for $305 Billion regarding "WMB and it's assets". WMI then became a 'willing seller' of WMB on our terms. When "the Final Payment" to WMI from the FDIC for "WMB and it's assets" happens, then that One share of WMB owned by WMI will become inactive. When the payment is made, we will see if "Willful Misconduct" was enforced.
All WMB Notes have JPM symbols. Therefore the WMB Notes are NOT a claim against the Estate. The FDIC is only using their 'house' terminology to describe their actions. Like 'the failed bank' or 'WAMU failed'. This FDIC response proves their canned 'house' terminology. Oops 5AT.
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