~ HM, The Reason You’re Having A Problem With That Presentation ? ~
... Is’ ... because that particular presentation ? is based on a flawed premise’ or an incorrect conclusion’ ... so, my suggestion would be to, disregard that’ ... and move forward, ...
CB’s description of “Retained Earnings” is generically correct’ ... however’ ... when one is specifically referring to WaMu ?, ... one needs to consider ... “Off-Balance Sheet”, ... “securitization” ... or, in other words, ... what ? when referring to WaMu ?, was actually generating their reported, ... “Retained Earnings”
... That ? ... is the variable’ ... past and now, present tense ...
... I’m glad you found my original posted presentation, as it relates to WMIH-Corp, ... intriguing ...
Your efforts to understand this extremely relevant issue ?, ... are quite 'commendable ...
AZ
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