Ed
Good morning ! Yesterday you said ask away so last night I could not help but thinking about what you said,(please understand in no way do I look for investment advice or take any position from any information you share about the New co), these questions I am grappling with
A. Why do you think the company has a lot of potential ?
B. What are the assets (if any) that go beyond $200 million? I.E intellectual patents etc.
C. Does the FDIC C have any assets left in the receivership that could be re-matched with the Newco.
D. Is S&G’s job done or is it to be understood you will be representing us in third party claims.
Any clarity on these issues would be appreciated. Some of the shareholders feel we really got screwed over and this was the biggest heist & cover-up in the history of the U.S. financial system and others like myself feel there is a un spoken reason why dime, tps, and others agreed for so little in the end.
From: Edgar G. Sargent [mailto:[email protected]]
Sent: Friday, March 23, 2012 11:35 AM
To: barry
Subject: RE: WAMU
A. Because it has cash and access to more cash, no debt, and a large tax NOL.
B. I'm not aware of any.
C. I'm not sure I know what you mean by "re-matched with the Newco". Given back to the company? I'm not aware of any and don't understand why the FDIC would do that.
D. We are done with respect to the Equity Committee. We have not been retained to conduct any post-emergence legal work but I think it is always possible.
I don't think there are any "unspoken" reasons for any of these settlements. I think experienced investors and lawyers saw these settlements as the best possible outcome for the investors and that continued litigation was likely to be detrimental to all parties, certainly including equity investors. Please don't take anything I've said either in an email to you or in court to be any kind of suggestion that there are secret aspects to this deal that have not been disclosed. There just aren't.
Edgar Sargent