You're right in numbers, I'm not detailed in numbers. I am trying to say that JPM is best candidate to buy WMI. Other candidates are equal, JPM and FDIC get release as a plus. Moreover, we don't have to wait any investors to buy out WMI. It may take times....who knows when. On the other hands, commons will be satisfied with good numbers.
Personally, I don't think that Willingham is willing to accept $1.62/share. At least, he is looking somewhere in $8.00/share as originally offerd byn JPM before BK. 1.7B shares x ($4-1.62) = $4B which is JPM paying its release and FDICs. Then, old common gets another $4/share in WRMMC to hold on NOLs, which costs JPM nothing. IMHO
HAPPY ENDING,
GO WAMU................
