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Wednesday, March 10, 2010 11:04:11 AM
That is exactly what was going to happen back in December before the UST got involved. I doubt this board, or any of our shares would still exist had the EC not been formed.
I'm not sure what the US Gov't could do in this case, I mean Walrath IS the US Gov't, lol.... the UST IS the US Gov't.
Let's see what happens on Friday. The 4 billion is going back to WMI, or there will be a delay, or a settlement. One way or the other the bottom line is that whatever was discussed in chambers ellicited no objection from the EC lawyers.
If we did not have an EC right now, court approved, and with a law firm like Veneable - I would be much much more concerned.
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