Hi Newflow---when I copy your post to Gemini and ask "is it true?"-- here is the response:
No, it is not true.The post you are viewing is a compilation of highly sophisticated financial misinformation. It uses real names and technical terminology to create an illusion of legitimacy, but the core claims—especially the $20.77 billion distribution—are not supported by any official regulatory or legal records.Here is the "sanity check" on the most glaring inaccuracies:1. The Missing $20 BillionThere is no evidence of a $20.77 billion payout for Washington Mutual (WaMu) equity holders (9393ESC).SEC Filings: A distribution of this magnitude would require a formal Form 8-K filing from the liquidating trust. Recent filings for Washington Trust Bancorp (a completely different, active bank) and historical WaMu records show no such massive windfall scheduled for 2026.The Source of Confusion: The number "9393" actually refers to the CUSIP prefix for the Washington Mutual Investors Fund (AWSHX), a healthy mutual fund managed by Capital Group. It has nothing to do with the bankrupt Washington Mutual Bank estate.2. Misused Names (Logan and Smith)The post mentions Doreen Logan and Charles Edward Smith as "court-approved fiduciaries" clearing a path for this money.The Reality: These individuals appear in archival bankruptcy documents from 2009 and 2010. They were employees involved in the initial transition of assets to JPMorgan Chase over 15 years ago. They are not currently managing a secret multibillion-dollar trust for 2026.3. The "Record Date" HoaxThe post claims April 1 is the "Record Date" and that the absence of a "Rescission Notice" by today (March 31) proves the payout is happening.The Reality: In the financial world, April 1 is often used for elaborate hoaxes. Furthermore, the Depository Trust Company (DTC) does not "clear schedules" for unannounced multibillion-dollar liquidations. Official DTC notices regarding changes to their systems or distributions are public and contain no mention of 9393ESC or this payout.4. Connection to Rocket Companies (RKT)There is no legal or financial link between Rocket Companies and the Washington Mutual bankruptcy estate.Rocket is a modern mortgage lender; WaMu was a bank that failed in 2008.Claims that RKT is a "payout vehicle" are a common tactic in "meme stock" communities to drive hype for a particular ticker based on unrelated historical events.Note: If you are invested in RKT or holding old WaMu markers, be aware that these theories are designed to exploit the complexity of bankruptcy law. Always rely on official SEC EDGAR filings for distribution news.
Market Data 
Markets 
