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Post# of 729631
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marayatano

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marayatano

Re: PickStocks post# 373248

Monday, 06/25/2012 8:52:21 PM

Monday, June 25, 2012 8:52:21 PM

Post# of 729631

WMI did NOT own directly the WMBFsb stock but did own the bank. fsb was created for the stock but the assets for fsb should belong to wmi...........



Actually, WMI only owned WMB. WMB owned WMB fsb though Pike Holding.

Assets of WMB were sold to JPM, which included WMB fsb as an asset.

WMB still exists under receivership, but WMB fsb merged with one of JPM's sub and went "Poof".

BTW, to own the bank, you have to own the stock.

imo
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