And this is why you don’t believe everything you read on the Internet.
The loss sharing agreement covers the whole portfolio, not individual assets.
It goes like this:
OWB buys the portfolio at 70c on the dollar.
It takes first 20% of loss on the written down value of the porfolio. FDIC shares the rest.
I don’t see why this is so difficult to understand.
And Soros’ hedgefund is a minority shareholder in this. You don’t mention that Saudi Arabia is one of largest owners of Fox News every time you quote their article.
