You have read countless message board posts, legal filings and excerpts of recorded facts displayed in public communications concerning the WMI debacle and the involvement and actions of the OTS, FDIC and JPM . Invariably, as you filter through and dissect each part, you have come across irrefutable evidence that a major wrong has been committed and some may describe what has been perpetrated by the OTS, FDIC and JPM as “capricious and unilateral”, if not criminal.
In your review of Weil’s and Quinn’s court actions, you have witnessed several positive results, some which my be devastating to JPM, the FDIC and possibly at some point the OTS. Of course that is predicated on WMI retaining their win on “Discovery” which most legal beagles think will remain intact, as a successful appeal is remote. In the last few weeks in the heights of anxiety, JPM has pushed Sullivan & Cromwell to the front line with the same inhumanity as the “human waves” expended in the Korean War. They have used up all the kitchen sinks and Hail Mary’s and in a desperate effort, which I’m sure has not gone unnoticed by Judge Walrath, have now sent letters to Judge Sleet in a last bid effort to find some relief from
The hole that JPM has dug for themselves by their foolish intervention into the WMI/FDIC action.
One could almost use every notable paraphrase to describe Dimon’s stumble and the consequences of Discovery he may possibly suffer by his own hand; “eat your own words, put your foot in your mouth, hung by your own petard, caught in your own web, shot yourself in the foot and the famous liar, liar your pants on fire“. It is with this firm belief that expect Discovery will reveal the most horrendous evidence on JPM, Dimon, FDIC, OTS and Bair and in my estimation, discovery will never happen.
By August 24th 2009, you will see the beginning of the end to this incredible debacle, but unfortunately may never see the underlying dirt that created this fiasco, but IMHO you will see the rewards as a stockholder ,as it’s the only exit left for the 4 Horseman (JPM, Dimon, Bair and the OTS). JPM with cooperation of the FDIC, will acquire the remaining assets of WMI in a face saving, discovery skirting bid for WMI common shares in a quick, simple solution that will avoid a devastating plague on their houses, as it‘s too late to do anything else..
They have already integrated all the “stolen” WMI assets into the JPM structure, to the point that unwinding them will be highly complex and very costly, especially losing cash and assets already booked in.
The hit to the bottom-line of extricating the cash and assets that “can” be moved will be of great concern as, the explanation to shareholders on the loss of “equity’ would never be acceptable to avoid a Class Action lawsuit based on several valid and obvious counts. One can only imagine the picnic the “Class Action wolves” would have “unfettered” in discovery.
The incestuous relationship with the FDIC, OTS and JPM, if revealed in Discovery, could probably bring down all parties with extended investigations and in my opinion, criminal prosecutions. As far as I’m concerned there is only one way out as all the other doors are closing quickly. I am making one more big buy before the 24th, while the price of WMI is greatly under priced. Settlement coming soon. Nuff said !
http://messages.finance.yahoo.com/...10090&tof=2&frt=2#210090 -----------
St Jean Cap Ferrat
Nur meine Meinung. Keine Kaufs-oder Verkaufsempfehlung.
Honni soit qui mal y pense! |
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