L.G. here is a plausible explanation of the 299 billion that the FDIC stated
Rosen said that WMI held no MBS, and that they were all sold off to GSE...which means WAMU had 299 billion in cash they were paid for by selling off the MBS.... when WAMU was seized, the FDIC seized the cash, and is holding it until the receivership claims associated with MBS putbacks, and soured MBS are settled...hence, the 299 billion total worth of the MBS are generating income to pay the claims off...The FDIC did say, however that they did not expect any recovery for equity shareholders.......AIMO..... Lodas
News 
Market Data 
Discover 
AI
