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Post# of 730545
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Re: diamondguru-one post# 73206

Thursday, 05/21/2009 8:09:11 PM

Thursday, May 21, 2009 8:09:11 PM

Post# of 730545
diamondguru-one, "THE cash "IS" wamu's...END OF STORY."

No, you don't have it quite correct.

"WaMu" is the name of the bank, Washington Mutual. That is the symbol or nickname they did business under.

"WMI" is the holding company, the former owner of WaMu.

The $4B was money owned by WMI and ON DEPOSIT at WaMu.

Therefore, the $4B does NOT belong to WaMu, and never did.

WMI was actually a depositor (customer) of the bank they owned. Therefore, the money SHOULD be returned to the rightful owner. That is to say, the "customer" should be allowed to withdraw their deposits.

Does this clear it up? or NOT?

VV
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