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Sunday, April 04, 2021 6:48:11 PM
Large Green also points this out when he repeats what Rosen said in court in July 2010. When Rosen says "they will still be there," he meant at the FDIC.
The way I see it, the FDIC neither had the manpower or technical ability to sort through all of the assets. What they decided to do is wait until the BK was over and whoever the eventual owner was, would show proof of ownership of the portion owned by WMI. The remaining would belong to WMB and they would then bill JPMC.
By the time JPMC gets around to paying for the assets, the money acquired through the use of those assets, will probably pay the cost. Meaning, Chase will have acquired WMB and its assets for virtually nothing.
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