Yea - maybe I'm giving the FDIC the benefit of the doubt. It appears they were either incredibly stupid, ignorant, etc leading to panic, or they were co-conspirators. Actually, it is not clear yet from what we know. I hope the DOJ eventually gets to the truth. Either way Shiela Bair should be tossed IMO - either in jail or at least on the streets.
I agree and disagree with your other comments. Yes, the basic analysis is simplistic. As I stated, it is based on the reported 10-Q. But as I suggest, this is where Solomon must begin its valuation - it is the benchmark. And I agree regarding your comments about the "true value of WMI". Solomon must address your observation in its analysis of the intangibles (my third item in the list of three important areas that they will examine). Notice that my suggestion of $15 per share has a caveat- "maybe more".
"More" would be great. GLTY