Subject:

Re: Washinton Mutual Issue

From:
"Eric Schwerin" eschwerin@rosemontseneca.com
To:
"hbiden@rosemontseneca.com" hbiden@rosemontseneca.com
Date:
2010-03-04 15:26
If Lawranne is still there I could probably call her.  Who's the client?  JPM?

Eric D. Schwerin
eschwerin@rosemontseneca.com

Sent from my iPhone

On Mar 4, 2010, at 1:18 PM, "hbiden@rosemontseneca.com" <hbiden@rosemontseneca.com> wrote:

Can we get David Boies a meeting with Frank's staff on WaMu issue.

Sent on the Sprint® Now Network from my BlackBerry®


From: Nicholas Gravante <NGravante@BSFLLP.com>
Date: Thu, 4 Mar 2010 13:19:12 -0500
Cc: Michael Endler<mendler@BSFLLP.com>
Subject: Re: Washinton Mutual Issue

Hunter,

FYI, David is meeting with Sheila Bair on Monday in DC. Let me know if you have any luck with Frank or his staff.

Regards,
Nick


From: Nicholas Gravante
To: hbiden@rosemontseneca.com <hbiden@rosemontseneca.com>
Cc: Michael Endler
Sent: Wed Mar 03 11:21:46 2010
Subject: FW: Washinton Mutual Issue

 

Hunter,

 

The email below is the general introduction email we have used when contacting folks an Capitol Hill.  Please let me know if you need anything else.

 

Thanks,

Nick

 

 

Here is text for an all purposes email

 

You may remember that in September of 2008, JP Morgan bought most of the assets of Washington Mutual Bank for $1.88 billion from the FDIC.  This transaction occurred on the same day WaMu was closed and the FDIC was appointed WaMu’s receiver.  JPM has reported that it has made billions from its 2008 purchase of WaMu from the FDIC.  JPMC a TARP recipient, is now claiming an additional $2.6 billion in WaMu tax refunds from the November 2009 stimulus package.  Congress expressly carved out TARP recipients—such as JPM—from those who could benefit from the November 2009 stimulus package.  JPM argues nonetheless  that there is a loophole in the law: Washington Mutual Bank, not JPMC, may claim the stimulus tax relief and then turn it over to JPM.   JPM is now trying to obtain the FDIC’s consent to a settlement of claims that awards the $2.6 billion in stimulus refunds to a TARP recipient (JPM) and the FDIC is urging a settlement that will permit that result.

 

 

 



IRS Circular 230 disclosure:
To ensure compliance with requirements imposed by the IRS, unless we expressly state otherwise, we inform you that any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.


The information contained in this electronic message is confidential information intended only for the use of the named recipient(s) and may contain information that, among other protections, is the subject of attorney-client privilege, attorney work product or exempt from disclosure under applicable law. If the reader of this electronic message is not the named recipient, or the employee or agent responsible to deliver it to the named recipient, you are hereby notified that any dissemination, distribution, copying or other use of this communication is strictly prohibited and no privilege is waived. If you have received this communication in error, please immediately notify the sender by replying to this electronic message and then deleting this electronic message from your computer. [v.1]