NewbieWar, read it quite well, irrelevant...
...in regard to the PLR, dates and understanding such are important.
...note, focus; at the time the PLR was drafted, WMB was in receivership of the FDIC with liabilities and claims over TEN BILLION in excess of assets.
...at THAT TIME WMB was insolvent.
...re: WMB being insolvent 'pre-seizure, NO it was not IMO nor was it the case; the SOP deployed by the 'colluding parties was "liquidity."
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