Wednesday, May 20, 2009 6:23:39 PM
The FDIC will make WMI whole no question about that, to the tune of some $50Bil . And any wrongdoings will definitely be swept under the rug by S.Bair in her statements to Congress and the media which will show that the FDICacted in good faith under difficult circumstances to right the financial ship back in 9/08 and allowed JPMC to take over WMB for a very nomonal sum of money and at some future time(like now) the FDIC would need to reimburse WMI for the actual value of the assets that were convened to JPMC as JPMC has no idea what they received in value and it would create a hardship for JPMC to now come up with the cash to make WMI whole. This is one possible scenario that S. Bair might spin on the public.
Take Care
David
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