Yes, an FDIC receivership can remain open for many years, and WaMu’s is still open.
But but… and just giving you friendly crap..
That dealership analogy doesn’t fit. In a private dealership sale, funds may be held until closing because the buyer and seller are completing a negotiated transaction.
WaMu Bank was different: it was seized, put into FDIC receivership, and the FDIC executed the sale/resolution. The fact that the receivership remains open years later does not mean the JPMorgan sale is still waiting to ‘close’ or that hidden purchase money is sitting for equity holders. It just means the FDIC is still administering leftovers: claims, reserves, litigation, distributions, and final wind-down… imo. Of course if if anything is coming should be in next couple months?
JHD
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