FOOD FOR THOUGHT
On September 25, 2008, the FDIC took over the bank and sold it to JPMorgan Chase for $1.9 billion. The next day, Washington Mutual Inc., the bank's holding company, declared bankruptcy. It was the second-largest bankruptcy in history, after Lehman Brothers.
This has been litigated and micro-dissected by hundreds of people for over 12 years. Countless attorneys and others have been involved with this huge case. Enormous numbers of shareholders had invested billions of dollars into WAMU stock.
Doesn't it seem reasonable that if there was any type of imminent distribution of even a penny a share let alone the predicted dollars per share there would be at least one "leak" from an "anonymous source" or a law office or a former executive or a Wall St. speculator announcing it?
Wouldn't some attorney want to announce that money was coming back to these unfortunate investors just in time for Christmas so that these individuals could, in some way, take credit for all of their work on the investor's behalf?
The White House can't even control leaks about upcoming speeches, policy changes, national security issues, etc. Yet, not one person involved with the WAMU bankruptcy has leaked a single shred of hope that a distribution in any amount for escrows or preferred is imminent.
So, here we are in the waning days of 2020 and there is the same, complete utter silence from any legitimate source outside of this Board just as there has been during the previous 12 "Decembers."
The bankruptcy is closed. AZ continuously copies and pastes "court orders" supporting his position that a distribution will take place by December 31, 2020. I guess the court officials down to the various clerks who work there and all the associated attorneys and everyone in their orbit have truly been able to not utter a single word of this pending windfall that will make instant millionaires out of so many people. They are to be commended for their self-discipline and integrity.
Because, as of December 9, the silence is deafening.
