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Post# of 732637
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SamuraiProgrammer

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SamuraiProgrammer

Re: BBANBOB post# 648679

Wednesday, 02/17/2021 2:35:54 PM

Wednesday, February 17, 2021 2:35:54 PM

Post# of 732637
Dude! Yes, there was 4B$ in transit from WMI to WMB intended as a recapitalization to maintain solvency.

There was even a theory that went like this...

IF the 4B$ had gotten to WMB, FDIC would not have been able to seize WMB because it could not be described as insolvent. That is why (for the first time in history) the bank was seized on a Thursday instead of a Friday.

This 4B$ was an installment on the capitalization plan submitted and APPROVED by the OTS (who said WMB was solvent under this recapitalization).

Somebody else can confirm, I hope.

I know I didn't dream this.

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