The FDICs seizure only applied to WMB - so the FDIC wouldnt have seized off-BS assets because these by definition were not WMB assets.
Also the FDIC is not on the hook for anything, if in the end L > A (which seems virtually certain) the junior WMB bond holders will just carry the loss.
Roger that Board... to this day... I still can't imagine not having a full accounting of ALL there is (or isn't). The years ago redactions are not solely to preserve the privacy of "names"... NFW!!
You have a plausible description of why we remain without any payout (yet)... hoping it's because the dust still needs to settle before the man behind the curtain unveils where the H things stand with the FDIC and potential remote assets.
For now... I like the rise in COOP and hope we see a measurable "step-up" in the share price so I can take some profit and begin to flip this stock.
EDIT... I'm in at an average of about $12 and plenty of shares... just waiting for another "BUMP" before I sell some of my shares.
The FDIC can’t let go of funds for “in the Money” Receiverships like WaMu until LIBOR accounting is finalized for the reasons you stated.
How would the FDIC clawback funds from retail investors? :)
Anyone have any LIBOR updates?
Remember; WMI sued the FDIC for $307.02 Billion. The FDIC’s response; $298 Billion for WMB and it’s Assets, after ~$8 Billion returned back to the WMI Estate.
"If I had the FDIC's power I'd hold onto every damn scrap of assets, until every liability has been resolved and released."
Hmm....So, it could take another 14 Years for FDIC to 'Release' WaMu (WMI) Assets and be 'Released' by Escrow-holders...Definitely this is not something that I wanted to hear But what you say could be True....
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