To be fair, they should give us just WMIH now COOP shares from day 1 and no escrow markers. For the disputed shares, just give out all to the disputed parties and what remained, to charity.
This will be clear that we get nothing but just WMIH shares.
Hotmeat… I hope you don’t mind me saying, but you might want to consider this… This is directly from a JPMorgan Chase News release, dated Sept. 25, 2008. (link at Bottom)
Quote, As part of this transaction, JPMorgan Chase will make a payment of approximately $1.9 billion to the FDIC.
Unquote.
This statement is from JPMorgan Chase themselves…
So, the $1.9 billion Dollars is only a payment. ($1.88B + $50million) It’s the “Initial Payment” at inception on 09/25/2008.
The “Initial Payment” is explained in the PURCHASE AND ASSUMPTION AGREEMENT
And… We can see the $1.9 Billion Dollar payment on the, WASHINGTON MUTUAL BANK Inception document Date: 09/25/2008
This is also from, JPMorgan Chase themselves… (no longer linked) January 13, 2010. JPMC states… With the acquisition, we purchased approximately $240 billion of mortgage and mortgage related assets…
So, on 09/25/2008 there’s the “Initial Payment” and on January 13, 2010, there’s the mention of the purchase of approximately $240 billion of mortgage and mortgage related assets.
Then on November 5, 2015, the FDIC states it has $299B in WAMU total assets.
So… If WMI’s, WMB assets were seized by the FDIC and sold to JPM… (and they were.) And, if the $1.9 billion is a payment… (and it is.) Then it’s a payment for WMI’s, WMB’s assets…
It’s been stated in the documents, there are two sets of assets, There’s the WMI’s WMB assets, and WMI’s non-bank assets… The WMI’s non-bank assets are gone… (just like you said, used up in the bankruptcy) So, there’s only the WMI’s WMB assets left.
The $299B in WMB assets, the FDIC is talking about… is the only source for a recovery…
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