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What the Disclosure Statement decisions could mean!
This case has more twists and turns than a coiled up rattler. There has to be some actions very soon that will direct the course of this case. If the Judge goes by any of her directions/decisions made in court on 3/21/2011 and based on Rosie’s actions with his reply to the Judge’s directions, then there is no way this Judge can approve the Disclosure Statement. She did not approve it on 3/21 and now she has called Rosie out and he has refused to accommodate any of the Judge’s mandates. Rosie cannot show assets greater than liabilities because number one that would be tantamount to admitting bankruptcy fraud and number two he would lose control of the case to Equity. So does the Judge ignore her own demands or does she push this through to confirmation? If there is a true settlement in the works, then I say she pushes this through as there will be no confirmation hearing and the settlement would be announced at one the two upcoming Holidays such as Easter or Memorial Day.
I say this because Sheila Bair’s term ends I believe in June. I cannot imagine the criminals wanting to leave this case dangling with a lit fuse, just waiting to make fireworks around the world and let the new Chairperson have to deal with this mess and not to mention the President’s reelection campaign will be starting. The last thing the President wants is to have this case light up the world as he is starting his campaign. If the so called “power players” have any thoughts of ending this, I would think the window of opportunity is rapidly closing in. Now if the Judge follows any of her own orders and she denies the Disclosure Statement, then that tells me there is no settlement in the offing. I would say to people if the Judge pushes this through to a so called Confirmation Hearing date, this should be deemed as great news if one believes in what I just discussed above. I have to admit it would be demeaning if the Judge approved the Disclosure Statement but we all know one fact – this will end at some point and I would be hopeful the Confirmation Hearing would never happen.
I have said now for two years the Judge would never rule on the four billion, a true asset list describing all assets would never be shown and now I am going to go out on a limb and will say there will be no confirmation hearing unless equity is included. With a settlement, everybody would be off the hook with no admission of wrong doing by ANYBODY, equity in the money and this all goes away quietly on an extended weekend announced before the start of said weekend and late in that particular evening. If anything short of this happening the risk to the “power players” is so enormous that I do not feel they want to risk this. Unfortunately, Sheila Bair will walk out of Government into her private life looking like a hero instead of the criminal that she really is. All of this will be a faint memory to some and to others no memory at all.
PJS Managing Director, Ethan Buyon will be deposed by the debtors on 4/5/2011 and maybe they will get the same treatment the EC did...literally a fishing expedition but in this case maybe a pictoral of a Federal Prison will get their attention!
http://www.pjsolomon.com/ourpeople/811bio.asp
Here is some new news posted at 4:05pm eastern time right after the market close. Probably going much higher tomorrow.
http://eresearch.fidelity.com/eresearch/goto/evaluate/news/basicNewsStory.jhtml?symbols=CXLT&product=USPR____&provider=PR_NEWS_&storyid=201103281605PR_NEWS_USPR_____FL72662&hlinks=vnhl
Rosie will stay in control as long as he can show L>A and once Equity is shown to be larger than liabilities then Equity should run the case. There is nothing saying this is going to happen, yet. If Tepper gets afraid of insider trading charges he could order Rosie to include Equity in the new reorganized company called WMRRC, but we have no idea of what Susman's demands are. I am hoping Susman is able to take control, take WMI out of chapter 11 and pursue the criminals at warp speed for all of the claims previously discussed.
Beulah, it is referencing a short sqeeze which could potentially make a stock rise into the hundreds of dollars per share (for very short time period) based on how many naked/short illegal shares are outstandng. You have to understand the criminals had no plans for WaMu stock to EVER be in the money as they are still trying to cancel the equity shares through the chapter 11 process.
Knick, you are oorrect in that the EC is keeping the PJS valuation under tight lock and key, thus making Rosie's life untenable. He almost has to show the truth on the non Debtor Subsideraries, as he does not know what Susman has or does not have. This is why I think the "end game" is soon. If Rosie continues to lie, he will have bankruptcy fraud stamped on his now VERY wrinkled forehead. In order to get the D.S approved to move forward he has to show something and this something almost has to make A>L and once again if Rosie continues to show the negative, Susman will then prove bankruptcy fraud on the Debtors sparking even more excitement.
William, another great post and I was just discussing the "end game" this morning coming to the very conclusions that you have. The only reason your suggetion would not work and this worries me is the Judge would not enforce any of her own rulings and go ahead and approve the Disclosure Statment, thus letting Rosie continue with his voting scam.
Short of the Judge doing this and her recent actions are positive towards Equity, the timeline you describe seems to be spot on. You have to figure Rosie does not want to go to jail for these criminals and there is no way for him to know what Susman has, hence his whining on 3/21 about PJS. With that said, he almost HAS to show assets greater than liabilities with his amended, reformed, amended, discombotulated, confusing, illegal, non disclosing POS POR 6 3/4 but not POS POR 7...
William, thank you "take a walk on the wildside"...
Turning of the tide & Rosie becoming defenseless!
There is no doubt after attending the recent hearing on 3/21 that the tide is turning in favor of Equity. I have said after the 3/21 hearing that I thought there was NOT any doubt that this Judge would like to see Equity in the money. Now does that mean just preferred or all of Equity? This is the ten to fifty billion dollar question. One of the most important things to note is Rosie does NOT know what Susman and Company has. This is going to get very revealing because if I was hiding all of my eggs and claiming liabilities are greater than assets, one would really have to worry about what kind of eggs PJS found. This should be easy to find out what WaMu had before bankruptcy, especially with the likes of Iron Mountain, previous tax accountants, previously filed taxes and much more that could have been found current all the way up to the seizure date. Now if Susman shows even some of these assets that Rosie has been hiding, he then has bankruptcy fraud stamped on his forehead. This should bring on a multibillion dollar malpractice claim against Weasel/Gotcha and Mangle, claw back of all of the legal fees now approaching one hundred and thirty million and much, much more.
What will Rosie claim and how will he act at Monday’s hearing? This should be very telling, as these multiple crimes have to be wearing on him. I saw him close up on 3/21 and he is aging very fast, not to mention appears very nervous when anybody mentions anything about assets. I am normally a very good read of an individual, especially after seeing and learning how one acts. Rosie to me now seems rattled, frustrated and very concerned as opposed to say one year ago. There is a huge change which tells me he is not sleeping well and is getting attacked on multiple fronts that we do not see. Keep in mind, great lawyers are usually several steps ahead of the average opposition, so this should tell you that Rosie has to know where Susman is headed and he does not know what he can or cannot show. His real and only recourse is to come clean and let assets start showing greater than liabilities if he is to avoid much of his personal disaster which is now coming is way at warp speed. I say Rosie cannot be stupid enough to go down with the ship, but his window of time is very close to being closed permanently for him, his firm and close to one thousand other lawyers. Is he greedy enough to compromise the whole entity? I say no and if I am correct the equities will be moving north substantially VERY soon. I expect you will see some positive action in this regard tomorrow.
Keep in mind, the Judge has not even ruled on E&Y which is a surprise because she usually signs these kind of filings the very first day or so. Now Rosie has a lot of homework to do and he has to show assets are larger than liabilities if he is to avoid this personal disaster. I just love this because he just does NOT know what non Debtor entities Susman has or does not have. Keep in mind Rosie has worked very hard at making many of these go away but history, previous filings and Iron Mountain does NOT tell stories. Also it is very clear to me this Judge has given EVERYTHING to her bosses from the Government except WMRRC and the NOLs which she, IMHO wants equity to have. She probably does not know and does not care about the entire naked/short illegal shares and this works to our benefit immensely. So with this little company carved out with the NOLs, if Rosie does not act positively with Equity there is no way he can keep from losing control. This is his only way now and this time starts very soon and maybe some indication on 3/28. The Judge wants him to stay in control without any diubt, but he has to give Equity their share or risk total implosion and devastation. I am more positive about ALL of Equity being in the money more now than ever. I sense Rosie bleeding internally and about ready to explode from an aneurism!
No worries, I would have punched some holes in it if I thought it was warranted but most of ALL of your thoughts are the same as mine. Maybe a twin in another life...LOL
William48, your earlier and much more detailed post was ABSOLUTELY OUTSTANDING and I thank you for all of you D.D. and well articulated posts!!!
I was VERY impressed with the young lady lawyer for Blackhorse. She ate them alive!!!
Ilene, you are without any doubt, one of the BEST and thank you for all you have done and are doing! It was very nice to see you again. I have no doubts we are more than half way across and GAINING speed which also includes seeing a most impressive GREEN HORIZON!!!
Equity wins the day without any doubt!
Thanks billions to Bet, Ben, James, Ilene and others who made all the difference today and there is no doubt Equity is NOW a HUGE player. These are great people and Equity should be EXTREMELY PROUD they are on our team and believe it or not Seth helped a little too!
Rosie just is just as ugly as ever to the idea of A>L and our team along with TPS, Steinberg had Rosie’s group searching for papers and looking for information. This would truly make any true WaMu long smile from ear to ear. It was such a joy to watch them scurry and play defense. Believe it or not, they are not good at defense as their faces showed desperation. The Judge was very good today and she no doubt appears to really feel for the shareholders, as I do not think she could fake these actions this long. Ben Mason had her laughing today a couple of times and she listened and took notes intensely while he and other Shareholders were talking.
At the end of the day we were able to make the Debtors produce more value concerning liquidity information, real estate and this certainly bought more time for Susman to tighten the screws. This D.S. by NO MEANS was rubber stamped today. TPS was able to get a moderator and was given one week to come up with one or the Judge will. This devastated Rosie and Company and I took GREAT pleasure at watching his hair plugs pop out as I was sitting right behind him.
I would encourage anyone who has not attended a hearing and who has skin in the game to attend one if at all possible. Trust me by attending will give you another VERY valuable perspective on this case! I feel stronger than ever about equity being in the money after a HUGELY positive day for ALL WMI Shareholders!!!
Good morning Ilene, I have made contact and in discussion. Thank you.
Good morning Ilene, I have received your message and had the front desk geve her a message before I saw your PM. Is it to early this morning 0630 to call her?
Thank you and I think this could/should be a GOOD hearing with positive results. Remember, last June when Rosie was trying to tell the Judge they are working torward some kind of deal and Nelson was like we are not even close Judge! Then the night before that hearing they moved agenda items forward and the hearing was basically a bummer but still worth it.
Will be landing in Delaware in two hours and getting ready to see the Susman Team, Blackhorse and others make Rosies hair plugs pop out!!!
JuJu, I thinks if Susman has the evidence of a crime (insider trading) they have to show it on Monday so the Judge is cornered and cannot move this forward without being complicit. If Susman has this, then he can save all of the rest including valuation for the REAL POR from Equity. I still feel this Judge will do almost anything to keep Equity from being in the drivers seat, as she has been protecting ALL of the criminals with the exception of MAYBE the Hedgies. She knows once Equity is in charge, Katy bar the door-because Susman will have a direct beam on FDIC/JPM>
Fsshon, you arec corret and I doubt the public would actually believe this happened as they will just say say another Hollywood great. I totally agree that Susman would only show what he has to. I feel this is at such a delicate time and place in this case, they have to make sure with enough evidence that this Judge is cornered and does not let this move forward.
Fsshon, I think you are MUCH closer to the truth than NOT and I agree!
Fsshon, what are your thoughts for Monday? I feel if the Susman Team does not show anything related to a crime such as insider trading, then the D.S. will be approved. I am EXPECTING our team to show something VERY revealing (not all) as we cannot let that Judge get her pen even close to confirmation in May.
More than likely there will be a Chambers meeting before court and they agree on some things which IMHO would be very favorable to equity.I cannot believe the criminals will let financial information about a potential POR from Blackrock become open and public knowledge as the securities would skyrocket. I still look for some fireworks because the Judge cannot silence all of the Objectors or at least I hope not.
fsshon, I have no doubts TPG was paid off in another way such as "banks on the cheap" or in other dubious ways. The main action that TPG HAD to agree with is to say nothing, hear nothing and KNOW NOTHING. None of these criminals had any idea that equity COULD be in the money, even remotely!
WAMUQ appears to be HALTED on Fidelity!...ANYBODY?
Monica, I firmly believe that Susman will ONLY give up what he has to, to get the D.S. denied. I believe he will show valuation just on WMMRC and possibly some proof of insider trading on or before 3/21. He alluded to both of these and more on 3/9 and now he HAS to show PART of his hand as we do NOT want this to move on ot May 02, where it will be even easier for this Judge to sign off on this corruption.
I also believe if Rosie is forced to let the EC join in as opposed to Rosie loosing total control, then you may see this in an 8K filing as early as Friday evening. This would be deemed bad news for the criminals and they would not want this to come out on a Monday morning. So I would NOT be suprised to see something VERY POSITIVE for equity late Friday evening around 8:00pm to 11:00pm Eastern time.
William48, thank you VERY much for such an astute observation in light of all of this negativity that is going on now in world markets!!! If there ever was a positive indication that this Judge would like to see equity "in the money", then this would be IT.
It is also possible this Judge does NOT have any idea (or chooses not to have) in reference to all of the potential naked/short shares that have never been covered due to them knowing what 'WAS' suppose to happen (cancelled) at the end of chapter 11.
None of the criminals including Rosie could have ever discussed this naked/short share issue with the Judge due to what happened to WaMu are crimes. If the Judge wishes to see equity in the money, it would stand to reason she either does not care or does not want to know what the nagative consequences are for the criminals if equity stays GOLDEN!! This COULD be the EC's INVISIBLE ACE in the hole.
Actions that I always speak of-Here are two very important ones.
I always speak about one’s actions due to all of the corruption, fraud, favoritism and more. I do NOT believe anything that comes out of the mouths of the so called “power players” including the Judge, as I will judge and invest more/less due to actions of these people and not what they say.
A few weeks ago there was a lot of discussion about Ernst & Young being brought on board this case by Weasel, Gotcha & Mangle payable back to 1/20/2011. Normally anything Rosie puts in front of this Judge, she signs the same day or very quickly and to my knowledge, the Judge has NOT signed on to E & Y- nor should she. E & Y will not even back anything they say and want to use disclaimers for ALL of their work that they are not responsible, so why WOULD the Estate pay for any trash like this?
Then there was the motion Rosie brought to the Judge to allow him to give back 33 million dollars regarding the new stock that was to be issued for WMRRC on approval of this POR. The Judge NEVER signed on to this and then questioned Rosie at the last hearing, “did you think you did NOT have to have the Court’s approval to release these funds”, and he basically said no. There is no doubt this Judge had to be fuming as Rosie made the Judge look like a clueless, powerless and hopeless individual. Now whether she is working directly with Rosie or not, this had to make her livid and not to mention all of the new/old objections with powerful facts that this Judge has to act on.
With Blackstone, TPS, The EC and more cornering this Judge into making a decision on the FJR which puts A>L, decision on valuation that nobody from the Debtors will sign or back up, I do NOT see how this Judge in her most favorable/corrupt terms could possible sign this Disclosure Statement when she turned the POR down based on releases. This seems to be every bit as important or more.
fsshon, just a SUPERB letter and I know a lot of time and effort went into this finished product. These kind of letters are extremely time consuming and just know it it VERY much appreciated!!!
Bud, everything is good. I lookd at not seeing any evidence of insider trading as also very positive due to the fact the Hedgies are working with Susman to avoid a criminal filing. Not to worry, there WILL be some HUGE firworks soon!!!
knick, no I wish I could but I am working on being at 3/21. I think that one (if needed) will be good one to attend if possible. Take care!
Where the rubber meets the road! Filing on 3/9 COULD change everything!
I have said for a while now the filing that Susman makes on 3/9/2011 could be the filing that changes the course of this entire case. I feel Susman has the evidence on insider trading and if he does, now is the time to bring these charges forward. The EC legal team has to file any and ALMOST everything in order to stop or least slow this process toward final confirmation. I do not expect Susman to show his entire hand, but he has to show enough to prevent this Judge from moving forward with confirmation of this amended POR 6.
Before the start of the hearing on 3/9, I would expect there to be a chambers meeting prior to discuss the evidence that Susman has and what he is planning on doing with it. I cannot imagine the Hedgies letting Susman file what maybe evidence of a crime, whether it is under seal or not. It just does not seem reasonable that Tepper would allow Rosie to continue with this sham knowing it could put him and others in jail. There has to be some dialogue going on with Tepper and Rosie and which direction they are going to go. We know JPM and the Hedgies were responsible for doing much of the illegal shorting, naked and otherwise and rumor mongering to bring WMI down before bankruptcy filing.
This is where it gets interesting because Tepper and JPM have been connected before so what does Tepper do? I think that is easy to figure out because these kind of people are NOT going to jail for anybody, so what does he do? He could call Rosie off and have Rosie include the EC and if he does not do this, he then has to face the wrath of Susman (love this) and so I do not thinks he has much of a choice.
What I find very interesting in what this Judge has allowed and not allowed. This Judge has given EVERYTHING to her Government employed boss and JPM (same) except the NOL’s and she allowed them to grow by turning down the POR and bringing this case into the year 2011. So as I talked about in an eelier thread, this Judge has stopped the Government’s waterfall at the NOL’s. I feel the Judge may want to give equity the new reorganized WMMRC if the crime of insider trading is proven, not understanding or possibly even knowing the crime these perps committed by bringing down WMI prior to chapter 11 filing. This is where it gets fun for the EC because Rosie cannot tell the Judge she cannot allow equity to be in the money because of the potentially one to two billion illegal shares out there. It maybe the Judge wants to give equity this and this becomes the criminal’s conundrum. They cannot tell the Judge they committed these crimes against a major corporation to bring it down, so how do they get her to understand the significance of allowing equity to be in the money? Fun, fun and more fun. I hope to see green, green and more green for equities VERY soon!
Look at where the Judge stops the waterfall for the criminals!
I find this incredibly interesting and anybody who has read my posts knows that I do not trust anybody in a power position with this case. I ONLY judge by their past actions to get a true unbiased opinion and if you want to call that bashing because the facts are not to your liking, so be it. During the entire twenty nine months in bankruptcy, this entire process of chapter 11 has been so embarrassing, convoluted, corrupt, misguided and nothing but throwing all of those people who defended the US Constitution under the bus. For those who are knowingly doing this for personal gain, I do know one thing for sure. There is a “higher power” that you will have to answer to and when that time comes, I for one would have no pity on anyone who went down this path and now for the great news the way I see it.
Looking at all of the decisions for Rosie, it would appear totally one sided. Keep in mind the EC was kept out of this case for the first fourteen months whether by design or other. I want to reiterate how important the decision was by the Judge to turn this POR down whether she wanted to or not. We could be fighting the uphill battle on this alone and our equity would be most assuredly wiped out or trading at one quarter of one penny. There is no doubt this US Federal Bankruptcy Judge is nothing more than the equivalent of a corporate executive of a major US corporation. With that said, she gave everything that FDIC/JPM stole to them with basically no proof and no questions ask which totals including claims of over two hundred billion POTENTIAL dollars. Why we she do this? I believe that is quite obvious and the way they are playing this VERY corrupt game, this has the potential to blow up big time and I am hoping and praying that it does before it is too late for the honest people of the world involved here.
Now for where the Judge cut the water fall off for the criminals. I believe as any human being would, this Judge even though she cannot show it, is very upset with this process as she was expecting a settlement from the criminals that stole everything. The Judge would at least think they could take some of the money they stole and make this go away, so she does not have to continue this obviously, embarrassing, criminal activity for the perpetrators. So the Judge without throwing the Government under the bus, left the trail of insider trading which Susman has seized up on and this is where the ‘water fall’ ends for the criminals. One can look at this as brilliant or other from the Judge, since she is under enormous pressure from the criminals or look at this as extremely positive. The Judge posited on the ten billion dollars for the new entity of WMRRC and this just happens to coincide with the actual worth of between thirty and thirty billion dollars of various taxe attributes. With the Judge approving discovery for the EC involving insider trading, if one wants to give the Judge ANY credit, this is what the Judges plans on giving to the EC as opposed to the criminals. In light these actions, the Judge's actions make extreme sense. I again reiterate the importance of Susman’s 3/9/2011 filing which I think WILL impress ALL WaMu longs and here is looking to an EXTREMELY positive upcoming week!
Separates him from Joe Six Pack, Glutton, Milksucking, Vulture Shareholders...LOL
If this Judge tries to cover up a crime of insider trading (assuming evidence is here), I firmly believe Susman will move to take her down also, before he loses a case of this magnitude... and of course IMHO!!!
Nhguy, first of all, thank you for your confidence. Susman may never show his true asset list and I say that depends on the criminals. I feel Susman will give the criminals either in Chambers or not a sample of what he has and if they do not see the light, he will then show the world thorugh a filing, just what he does (explosive) have. One NEVER wants to show their hand (especially first) unless no other choice is given and he WILL show his hand BEFORE he lets that Judge get near Rosie's POR with her pen!!!
In doubt? Look at the actions-WMI becoming defensive-EC VERY quiet!
For all of those people who are posting and worried about the EC and Susman, all I can say is look at the actions and then relax. I suggest for those in doubt go back and do more due diligence on Susman and his history at winning-he does not lose. More importantly is HOW Susman’s team wins. He tells you EXACTLY what and how he goes about it in his website and many of those I do not believe but Susman has an incredible record to back up his boasting.
This law firm does incredible due diligence, gathers the facts, lays out his plan and stays out of the limelight to the point of many people wondering if he is actually doing anything. Just remember we have been through all of this before with Susman and when there is a due date for something, he makes his filing which to date has been nothing short of incredible. For those of you who are concerned he is not addressing financials, assets, illegal transfers and more, there are VERY good reasons for it. First of all why would he address it in parts and give his enemy an advantage? We have all seen PJS has been billing for over fourteen months and working on many items. When Susman began, he made it clear he had to concentrate on one item and that was getting the POR denied and he did. He has a filing to make on or before 3/9/2011 and I suggest something very positive happens to equity on or before that date.
Susman’s strategy is of surprise and ambush as I have done my due diligence on he and his firm. I have a large investment in this and I have accumulated at every stage for two and half years and I continue to do so. When the time is right and we are getting VERY close he will unload SOME of his artillery and IMHO that will start on 3/9/2011 with his filing against the Disclosure Statement and AGAIN every long will be impressed. Now as for Susman not addressing these items such as missing assets and more, that will be his TRUMP card, providing he has to use it. Susman/PJS WILL have an itemized list of assets leading up to 9/25/2008 and a list after this date and it will be backed up and signed by PJS depicting everything that WMI should have after 9/25/2008 and it will be EXPLOSIVE! Everybody should be happy Susman has held his TRUMP card because if and when he has to show it, there will be NO DSPUTING it from the criminals. I will go as far as to say Susman will show PART of his hand in chambers before showing the world to give the criminals one last chance and this is when the offer will be made IMHO. Stand down, have some more patience and get ready to celebrate because IT IS COMING!!!
The timing of Tepper relinquishing his Horsie title to another is VERY suggestive!!!
http://www.marketwatch.com/story/appaloosa-hires-merrills-kaplan-as-coo-2011-02-28?siteid=yhoof
Jestiron, the information you sent via PM was great and I fully remember this, but at that time even though we may have known, it was not on anybody's scope. Now, they are looking for an example and I think between what Susman has found with one of the "talking Horsies"-how about Mr. Ed, rule 2004 discovery and more. Susman, IMHO has the criminals on insider trading and banruptcy fraud. No body stays this quiet unless one of two reasons-either you have the evidence (I say YES) or you have sold out and NONE of Susman's actions show anything close to the latter.
Of the 4 Horsies- One at table early-Eating VERY well-IMHO!
Now what actions do we have here with the Horsies? It is very interesting to see the actions of the four Hedge Funds. They all filed objections except Aurelius and what does that action mean? To me it means one of two actions, either they did not do any insider trading (hard to believe but possible) or they wanted to be the first to the table and get the main course instead of being Bubba’s main course. I find it very hard to believe they did not partake in insider trading as the EC was not even on board for the first fourteen months of these chapter 11 cases. Then you look at the actions of Rosie and his team and those actions are defensive for the first time in almost two and half years which is great news if you are long.
Let’s look at the dates. On 1/7/2011 the POR is denied with explanations that WMMRC would have to be evaluated with the new NOL’s and more. Now we learn that E&Y were brought on board on 1/20/2011 with not a word mentioned about this until 2/25/2011 which I say is a considerable time lapse notifying the court for reasons which are nothing more than detrimental to the Estate. Then we have all of these objections filed by the Hedge funds on 2/25/2011 with the exception of Aurelius and maybe for very good reasons.
So I will still stand on something VERY positive happening to Equity on or before 3/9/2011 due to Susman’s objections to the Disclosure Statement being due. Susman has to bring on firepower as the EC can ill-afford to let this Judge even get her pen close to signing the POR. With that said, Susman has to file evidence (assuming he has it) of insider trading, the Debtors NEVER using Auditors/Accountants and other information he MAY have received from Aurelius and/or others. The criminals know this as well and once criminal behavior is filed with the court it may be too late for the criminals to protect their standing in society, their careers, families and most important-prison time. I am getting ready for POTENTIALLY voluminous/exciting trading on WMI equities during the next seven trading days.
US Trustee-WMI-Hopefully case blows wide open.
WMI received very good information when Marybob (excellent find Mary) found on PDF page eight that the Debtors have put in writing that they have NEVER used any Auditors or Accountants. Two and half years have passed with more than 110 million in bogus billing by Weasel/Gothca and Mangle. I have read and found that E&Y have been and are being investigated for all sort of illegal behavior, thus connected to JPM, Lehman Brothers and other outfits that are large and have been in all sorts of trouble.
http://www.kccllc.net/documents/0812229/...
If the US Trustee has asked or told the Debtors to get proper Auditors and Accountants, my question is what in the hell is wrong with the US Trustee? After two and half years and over 110 million in bogus billing the Trustee should have brought charges against Weasel/Gotcha/Mangle and had Rosie arrested on the spot for bankruptcy fraud and at the very least, ignoring their fiduciary responsibilities to the Estate and more. Unfortunately, these actions by the Trustee prove they are into covering the crime and corruption up as much as anybody involved here. What IS against the law in Delaware when filing bankruptcy-anything? What a disgrace to the Judicial System and an embarrassment-disgust for those people who defended, fought and died for the US Constitution…to see it disgraced by the VERY people who are put in positions to preserve and protect.
This river is very deep and wide with corruption and I believe in the old sane, “the cream of the crop rises to the top” and I still believe that will happen here. There are getting to be way too many people involved who will keep telling other people and at some point this case will blow wide open and the criminals WILL lose total control. This very statement the Debtors put in their Friday Night-9:00pm filing tells it all about NOT using Accountants or Auditors in one of the world’s largest bankruptcy cases ever. Stayed tuned, we are about to start witnessing very positive developments with the WMI case. Rosie REALLY has to be genuinely frightened whether he admits it or not.