The retained interest would have to be held under subs of WMI, not WMB. Also, there have been many circumstantial evidence over the years suggesting that JPM only got the servicing rights.
Additionally, its absurd for WMI attorneys to hold the retained assets under a WMB sub (if it was possible) and not mitigate the risk of everything being swept up under FDIC takeover event. Holding the retained assets under WMB did nothing for bank liquidity so why do it? Just really stupid for a holding company to exist and not utilize its corporate structure to shield assets from FDIC takeover. Especially when those assets did nothing for liquidity to prevent FDIC takeover in the first place.
The only way, JPM got the retained assets would be under a conspiracy where FDIC illegally (5th amendment taking) gifted them to JPM....and SG attorneys, Rosen, Judge Walrath, Bonderman, Willingham, Kosturous,and all the hedge funds went along with the conspiracy....very unlikely scenario. But I suppose anything is possible....But I'm speculating on probability. IMHO, the probability of such a conspiracy occurring is less than genetic probability of Elizabeth Warren being Pocahontas.
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