ich bin zu schwach um diese Fachaussage treu zu übersetzen. Ich hoffe, dass für die meistens von uns diese Meinung verständlich ist.
quote
HMMMMMMMMMM JPM Screw up the Judge
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§ Weitere Optionen 20 Jul., 07:15
JPM is putting forth a Motion to Withdraw the Adversary Proceeding. In
their brief they talk about how Weil is not playing ball by "tipping
their hand" so JPM's lawyers can see the cards. DUH !!!
JPM screwed up and hired a Junior Law Firm instead of a Senior one
that has Weil's stature. It sounds like JPM wanted to save some costs
and settled on Landis Roth and Cobb by way of Sullivan and Cromwell.
Now they are swaking because the "got schooled" and are bitching
because Weil won't show their defense in advance. If Weil would have
told them they were going to file counter-claims in regards to the
adversary proceeding (JPM CHOOSE) to bring against WMI, JPM will have
said no way we are going to bring up that claim for a mere 500Mill,
when the liabilities we are subject to outweigh the benefits. They
opened the door!
YEP JPM's Attorney are mad and crying in the corner Weil put them in
and now they are barking up the wrong tree with Judge Walrath by
telling her "You have no Jurisidiction in this part of the case" stay
the hell out!
UH-OH not Good
In another order of business.
Judge Walrath can not and will not be able to make the decision on the
4.4 Bil in deposit accounts until she is certain by way of BK Rule
2004 (legal discovery) that the money belongs to WMI. She knows JPM/
FDIC lawyers are chomping at the bit to overturn her decisions in
appeals court and that all bases have to be covered. Discovery will
prove the source of the money, give it time and be assured when she
makes the decision, she is making in light of all evidence seized by
her regulators. Subpeona's went out last week, give it some time,
people close to the case will keep us informed.
She will grant the Bank Bondholders motion to Intervene "on a limited
basis" in regards to dispursement of funds only.
WMI had its property seized and sold for less than book value for the
first time in banking history. WAMU was savings and loan and was
subject to oversight by the OTS, not the FDIC, yet it is the FDIC who
clearly screwed them in the long run. Did the OTS know the FDIC was
going to sell WAMU for pennies on the dollar? Proabably not, we will
find out soon if JPMC lets it go that far. I think the FDIC colluded
with JPM after the collapse of Lehman to make sure that another Lehman
did not cause the actual complete and devestating collapse of the
"world economy." I never knew we were all so intertwined until last
fall. WAMU was sacrificed to save JPM or was it taken to keep 100plus
billion dollars from bring withdrawn out of a bank, which may not have
had that kind of money on the books to fund the withdrawals. Then the
FDIC would have to guarantee the funds, which it clearly did not have.
WAMU was sacrificed/taken to protect the FDIC and the economy. It
doesn't matter, the question is:
Did the FDIC sell WAMU for the right amount of money?
Answer NO!
DId the FDIC inform ahead of time JPMC that they were going to seize
WAMU and that they are the only bank that could sustain the amount of
portfolio losses WAMU was getting ready to have in the Secondary
Mortgage and Commercial loan markets?
Yes (1 bid) JD "We could have paid $1 for WAMu and gotten the bank!"
Did JPMC put moles in WAMu as early as 2004 that were funneling info
to JD so he could make a bid for the bank?
Yes Bid was done in March 2008. Bid was turned down. How did JD know
WAMU's financial condition without the insider's giving him the info,
he did enter into a false agreement in Sept to buy the bank, so he
could check the books 1 more time.
DID JPMC Moles establish lending practices that eventually lead to the
demise of the thrift. Did JPMC and its insider's funnel info to the
media that caused a 16Bil deposit withdrawal run on the bank that
eventually lead to its seizure?
Yes on both counts. JD knew if he could cause the run, the FDIC would
pacakge up all 2200 branches, atm;s and providian and give them to
him, just to stop the run with the security of the JPMC name!
Did the FDIC sell WAMU to JPMC for less than Liquidation Value? Yes
Did that constitute a breach of the fidicuary duties of the FDIC as
laid out in its charter and the FDI Act
Yes!!! Is this just cause for the court to cause the P&A to be "null
and void" Yes all of it!!
Do the math it doesn't add up !!
This is the tip of the iceberg, watch Weil spin this thing!
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