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Post# of 735721
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JohnnyWinter

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JohnnyWinter

Re: Vulcanized Crawler post# 189641

Saturday, 04/17/2010 12:07:50 PM

Saturday, April 17, 2010 12:07:50 PM

Post# of 735721
They only had $4.4 billion in cash/cash equivalents. "They" means WMI AND WMB combined. WMI has already laid claim to that cash which means there was ZERO in WMB coupled with losses that were too large for them to absorb.

They only had a little over $7 billion at the end of June '08, http://www.secinfo.com/dVut2.t8tw.htm , and by the time they were seized that amount dwindled down to under $5 billion.

Also, don't forget that many of their other "assets" were simply fraudulently originated loans.

Numbers don't lie, people do.

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