KeyKey.....Yes, this can be confirmed. As Lodas always say ,it's in the documents. For example, the FDIC has stated, on numerous occasions, that they don't anticipate there will be enough money to pay the shareholders. The reason being; WMB's debt must be paid first. As things stands now, and at the time the bank was seized, the debtholders own the bank. That's the reason why JPMC made a "Payment", like in, "down payment" of $1.89B. Once the debt is paid, the FDIC will be able to close the sale of WMB. At that time, JPMC will be required to pay "BooK Value" for the assets as required by the "Purchase and Assumption Agreement." For those who have bought or sold a house, this process should sound familiar.
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