The phrase Purchase and Assumption Agreement kept coming up in Hotmeat's post. Now, is that the same as the 3.1a that was never truly shared from the inception of this fiasco, due to a "Scrivener's error."? To me, that has always been very suspicious. Why was the list of things taken by JPM not shown to the world? Did it have to be revised? Is this when Sheila Bair realized she had overstepped? Could it be possible to, for example, repossess a house, and keep the furniture, car, artwork, boat and jewelry?
To me this is still a puzzle. A bank holding company was taken in total, not just the banks.
I am a really old lady now, but still hope for some kind of explanation of how a private plane, artwork, etc., could disappear in a bank closing. I spent 22 years working in a small town bank, and when the FDIC examiners swooped in to audit, they looked at everything to be sure the employees were doing their job. I have a very hard time thinking this same group is now legally able to conceal facts and hide assets. Time will tell.