Nate's ACTIONS
There is no doubt about it, without Nate's ACTIONS, I agree equity would have been eliminated.
And Nate actually 'did something; he didn't just 'say was going to do something. I goes to the point that actions are louder than words. For those who keep promising 'gonna do something if we don't fair and reasonable (defined by ones beliefs and not by the actual settlement agreement made and confirmed and carried out to date to the "t") escrow recovery (litigation, SEC complaints, etc.), it would be nice to see that changed into ACTIONS.
Again, NATE's ACTIONS really opened the IT door and it appears likely that the EC used if (IT) to pry WMIH away from the SNH's using the debtor's own Blackstone's Zellins NOL valuation (i.e., that the NOLs were worth nothing, so the EC likely mediated "then we will take them").
WMIH, including the $75M, BOD control for a period, a credit facility and $6B in NOLs, is what it is; not bad for a bunch of retailers.