AzCowboy, just excellent fact finding diligence as the deeper one digs the more truth is found regarding this case but of course, legal bankruptcy specialized experts would have known this off the top of their heads. No wonder some who seem to have the answers for much of this specialized case never have this type of diligence...so hmmm, Hmmm, again, those ACTONS that I repeatedly talk about speak volumes.
Now within review of this very specialized section of the Delaware (APR) bankruptcy law one can ONLY come to one conclusion when this rarely used EXCEPTION to the APR or Absolute Priority Rules is used. The reason it is RARELY used because most seized institutions are NOT SOLVENT and in the WaMu case it was solvent by yes, there is that term again, tens of billions to the assets side versus liability side.
So without further discussion, the ONLY REASON THIS EXCEPTION to the APR is used is due to the fact there is money that flows all the way down the payout MATRIX INCLUDING EQUITY which obviously means IMHO, yes, there is that term again, TENS OF BILLIONS that will overflow-ith our BELOVED Escrow Accounts.
***AZCowboy, ONE OTHER QUESTION and this is VERY IMPORTANT***
Have I told you lately how much MORE, MORE and MORE I love my Escrow Tracking Markers and IMHO, soon to be issued LTIs?
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