Flagstar decided ‘shit no, I’m not going to take over a book of shitty crypto assets valued at god knows what they could be a massive liability’. The key valid

Flagstar decided ‘shit no, I’m not going to take over a book of shitty crypto assets valued at god knows what they could be a massive liability’. The key validator here is that they also dumped a heap of mortgages and loans that they considered toxic. The value of these other assets that Flagstar decided to not write into their purchase agreement was $60 billion under current accounting. They just decided that the crypto is no good. Along with 60 bn worth of other stuff. And they can stick that with the FDIC to deal with. [0] https://newsletterhunt.com/emails/27219 https://newsletterhunt.com/emails/27219 (last section, meanwhile in America)