...as it is pretty clear to me what JPM bought; WMB (huge corporate structure of subsidiaries) assets and assumed some obligations (deposits, covered bonds, etc.). It looks clear to all other parties that settled. The only open item is what "liabilities" they are obligated for. That is were the litigation is with others looking to the FDIC or JPM for bad loans and fines in the securitized MBS that WMB (and acquisition subs) originated or bought and consolidated.
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