Conference call including *.ppt presentation. (Not reviewed by me. Meh.) Then they'll own the properties for resale, no? Then the goal-seeking strategy to recover (break-even) is $1.9B. Given west coast RE primary market volatility, that goal could obtain on REO sales alone and much sooner than current "panic" implies. IIRC, median CA residential is still $350K - $400K.
One among many topics of asset-stripping that I find interesting though is how FDIC will liquidate the assets of WM's remaining subsidiaries. And which will the BHC attempt to reserve? Diversity is the key to economic and political evolution.
