Replies to post #20232 on Washington Mutual Preferred fka WAMPQ

[HROLLER]

Exactly....

[chaarles]

I agree in everything but I think that it will get worse only for the FDIC not for JPM, since the FDIC is the one liable for all WMB liabilities not JPM.
I could think that if this case gets real ugly for the FDIC only and JPM gives its back to the FDIC, why the FDIC would still support this transaction? We clearly know that the only one benefited for this has been JPM.
Could the FDIC unwind the P&A Agreement and give WMB and WMB fsb back to WMI??
From a legal point of view, could that be possible? is such a possibility included in the FDIC Act?
Regards

[Bizreader]

Clear as a bell, rramirez82.

[mordicai]

Equity courts must always follow the law. If equity courts do not follow the law it is reversible error. I agree with what you say in your post. However a judge should not and can not come to the rescue of any party at the expense of another simply because that party (or its attorneys) made a mistake in timely filing a proof of claim or failing to sue the entity that caused it the damage. This is where Walrath overstepped her authority.