My point is the claims by JPM to some or all of the $2.6B tax refunds and the dispute of the $3.5B Cayman Preferred being paid with WMI funds ... while JPM only put up $1.88B to buy WMB!! Just no way does that work.
Yes .. if they pay back the fraudulant claim funds plus ... then there's room to negotiate the items above. But until then, I don't see how Rosen or anyone can claim WMI is liable for the Cayman Preferreds.
Here's hoping all WAMU longs have a Great 2010!!
Happy New Year To All!!
Charlien DudeBug (that's my Terrier Girl's nickname!!)