Ever wonder why no lawsuits from the hedgefunds or Tepper? They own massive escrows but not a peep out of them in 9 years. Why? They know this money is "in the bank" collecting massive interest. So why sue when you are making 7% a yr on your money?
And Real Estate portfolio! I am a lurker but have been following everything for the past 9+years now. I believe that Wamu has a substantial real estate portfolio that has been in safe harbor. I believe Wamu was founded in 1889 and grew tremendously over the 100+ years in existence. They had a plethora of prime location branches around the Seattle area which is a booming market. You going to tell me that over the years they didn't eventually own this real estate? I just can't see them paying rent for all these years!
Seems eerily similar to KMART in that the real estate held in safe harbor is what propelled their sock post BK. Correct me if I'm wrong , but no one is talking wamu real estate which I believe is another piece of the pie!
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