CSNY: WMI's consolidated figures named about $306B in assets. Not all of those assets belong to WMB, which are the only assets over which the FDIC-R had jurisdiction. WMI has a right to recover any non-WMB assets (minus liabilities, e.g., FHLB). About $225B of those assets belonged to WMB, so about $55B did not ($80B - $26B shareholders' equity) . Those assets, minus liabilities and FDIC-R expenses, belong to the LT. Moreover, the LT is entitled to market value for them plus interest for the past six years. WMB assets were sold at book value and after their liabilities and the FDIC's expenses are deducted, the LT gets the revenue. Personally, I think the $50B value is closer to the mark but it could be substantially higher. It depends largely on the market value of the assets JPM didn't get. For most shareholders, that will mean a substantially return.
Wamuchen: I won't categorize the CL and the residual as unicorns. They literately make sense and weren't rejected by evidence.Of the information we've collected, it's FDIC's mandate to stabilize the banking environment while being refrained to unjustly enrich the acquiror(constitution). The premium paid by JPMC could represent a discounted surplus on its purchase and the bonus gained from the FDIC in the name of assisting the DIF. However, one shouldnt believe that JPMC paid 1.88 for more than 25(virtuely speaking, nothing left). If that happened, the hedges wouldn't risk the moment on hijacking the waterfall for the successor control of WMI. Yet, the leftover should be attractive to them for the years they've spend on this, considering the billions of gains they made on WMI debts.
For CL, there wasn't official disclosure on PLR regarding the one way ticket towards NOLs only. Except liquid assets received from the R, the LT can't cut the illiquid in pieces and send them out. Here's what Ken talked about makes sense. The LT could find a "buyer" for the assets. We marker holders will be taxed anyways in dividends. However, if that buyer is us, we literately transform dividend into our share price gains. Some won't be taxed on capital gains, e.g. offshore and nonresidents. The "us" would be able to utilize the CL and retain the assets for operating use. Later, we use the assets as collaterals for debt financing to expand. The only issue would be That some will miss this because they sold on impatience.
It's making sense. There are possibilties, always. We are in great hands.
Ron: Una de números
You are right in line with FDIC's number [Please note that the equity numbers are positive in value]:
The results from the links above are:
Definition Dollar figures in thousands
Washington Mutual Bank
Henderson, NV
June 30, 2008 June 30, 2007
25 Total equity capital 24,379,747 27,700,770
26 Total bank equity capital 24,379,747 27,700,770
Definition Dollar figures in thousands
Washington Mutual Bank FSB
Park City, UT
June 30, 2008 June 30, 2007
25 Total equity capital 29,229,987 31,544,549
26 Total bank equity capital 29,229,987 31,544,549
*** WMBfsb accounting does not reflect Project Fillmore's $47B in cash. ***
A "Taking".
Now add in WMI's value!
RE/DCR
Court Registry Account
I see 93 bee to LT ;D
It has been interesting for 5 to 6 years added back in to it!
I'm NOT accounting for the Mortgage stuff, because I don't know how to calculate it's return or value to LT.
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Repito aquí lo que tenga que ser será... ni nadie puede invertir ya ni nadie sabe cuando ocurrirá pero algo si está más claro... estamos más cerca que hace 2 años pues mucha info empeza a salir a la luz en un momento de máxima exposición de JPM y sus practicas fraudulentas a todos los niveles.
Lista Activos 3.1a presentada el 10 octubre 2014