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JohnnyWinter

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JohnnyWinter

Re: fsshon post# 239647

Wednesday, 10/06/2010 7:00:26 PM

Wednesday, October 06, 2010 7:00:26 PM

Post# of 733312
WaMu and WMI combined (per their own audited financials and SEC filings) only had about $4.5 - $5 billion in cash on hand, and actually WMI is claiming that all of that cash is/was theirs and not WMB's. That wasn't even close to enough cash to absorb losses considering the immense size of the balance sheet. There was not "excess" capital or "$20 billion" that is "missing". Talk of $1-$10-$20-$50-$100 per share is complete and utter ridiculousness.

Creditors win and equity loses, and one can only hope that those that claim to have "learned" so much over the past 2 years actually do learn something when this is all over.


Numbers don't lie, people do.

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