Bettina, Thank you, That was a pleasure to read.

I have said this before that Mike W. was making a statement when he bought only commons. He obviously had the finances to diversify.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57176446

Thanks Sly EOM

Thanks WC, I was thinking if they didn't have anything to hide, why would the hedgies worry whether they got a release or not. I mean, why pay for something if you don't have to. Insurance I guess.

Lawrence, this is scary. Everyone should read the whole report that Lawrence posted.

I think this case has more entities involved than meets the eye. It goes past JPM, Hank Paulson, and probably the Fed has their eyes on it….and Mary knows it. I think back when someone asked Susman if the judge knew what she was doing; his answer was “ABSOLUTLY”. He could have said “I hope so”. It is possible Mary felt some pressure, hence the “fair and reasonable” remark to loosen the noose a little. She knew Susman would not let that slide by. In giving the benefit of doubt, I still believe the judge knows absolutely what she is doing, but has to follow certain steps in order to have a peaceful nights sleep. She didn’t let the HF’s off the hook without contributing to the settlement and that was our stepping stone.

Austin; I, like most here am comfortable with Justin, Seth and the rest of the gang taking their turn at the hearings, but, in your defense I will say that if this should all go to he11 in a hand-basket, then in hindsight there will be many more than you who will think Susman showing up might have made a difference. Not that it would have, it’s just a psychological thing wishing we could go back and do it differently; visualizing a bull in a china shop plowing his way to victory. When someone loses it is human nature to wonder what else could have been done……, but right now we have no choice other than to trust Susman’s game plan. Win or lose I feel we have a strong team.

William: I’ll take a guess and say that 99% here enjoy reading your posts. Do not let the 1% take away from the others. The 1% of the wealthy already does that to us. I do not ignore NJ as I like to read his take on things also. Please continue.

tdmd: nice rational post to what has seemingly taken place so far.

Strikeeagle: I think this speaks volumes.

Ms. Lonstein from Blackhorse
And what's interesting about this plan is that it
13 provides for senior creditors owed billions of dollars to
14 choose to take stock in an ostensibly 100 million dollar
15 company, okay, instead of cash. Why would creditors owed
16 billions of dollars take stocks in 100 million dollar company
17 instead of cash. There must be something valuable about that
18 stock.

grybuck, the 30k trades were sells. I am not selling out completely, as who knows, a miracle may occur.

To William and LG: Thanks for your perspective writings. You never know, money has and always will tempt the unethical to do risky business, but even if Rosen knew about a buyer, he’s too smart to leave a trail of wrongdoing IMO. I just do not see anyone going to prison for this (although they should). Money still buys your freedom in this country until someone with more needs a scapegoat.

Like you and many others, the quiet time as of late has refreshed my “almost” always positive way of thinking about this stock. I loved the dig the Blackhorse attorney shot at the creditors; sacrificing billions for a 100 million company. I’m sure there were a lot of restrained fist pumps in court at that moment.

Your death to inside traders picket sign sat well with me; this country needs some serious cleanup.

I do not think that it would, but I do not know. They took it too far already is my guess. Something should have been offered before the accusation was made if they are guilty. Greed makes people do foolish things.

Why would the judge say the hedge funds didn’t add to the settlement? How does she know that they should? Possibly whatever it is under seal. IMO.

Let’s just hope all the lawyering up for the hedgies was not so much to battle SG as it was to get the negotiations going. If they are guilty and suspect the evidence will come out I can’t see them lingering too long. Although the coughing up of some cash would look like they are guilty, it is better than being proven by the DOJ later on.

("hedge fund depositions our only hope").

This has had my curiosity going since the hearing in January when the judge mentioned hedge funds and some others have not contributed to the settlement. Are not Bk’s supposed to be only about the valuation of the company? Isn’t insider trading a Dept. of justice thing that should be looked into after the fact?

No need to put it in the closet. At the last hearing it seemed the judge was insinuating the hedge funds need to kick something into the settlement. I don’t think SG would go after them if he didn’t have something. Will they deliver all the information is the question?

Actually the judge is telling others to come up with more cash.

http://www.nytimes.com/2010/12/12/business/12advantage.html?pagewanted=1&_r=1

OT, but interesting. Mentions "the club".

jhdf51, I would like to think it is because he already knows the outcome and has the integrity to not waste extra resources. I do not remember who asked the question (possibly ilenes); “does the judge know what she’s doing”?, and his answer was “absolutely”. What keeps me going is what I think those in the know know, as in Willingham owning only commons and that word (absolutely). I have never doubted our judge knows all these lawyer games and played them herself before becoming a judge. As others have also assumed, I think Susman is holding a wild card just in case. IMO

Well spoken BigBang, we have too many team players (American citizens) with political views that go along with "their side" regardless of right or wrong, hence we argue amongst ourselves; just what "they" want, keeps us distracted. They want us in our living rooms watching television; too many independent people in the streets would disrupt their progress. Until us taxpayers take control of the airwaves and have our own news channel nothing will change. The worthless daily rags that people read are no better.

God forbid should our BK go to the Supreme Court; those in black robes were put in place by the ones we are fighting against.

Why do you suppose Willingham laid out 200 grand for one million commons and not diversify with preferreds? Something tells me he wanted to make a statement and supposedly he is quite knowledgeable with BK’s. Granted, this could go either way, with BK law on our side or corruption buying the law on the other, but although the whole story is not in the major media yet, the news becomes a little more widespread every day. When enough eyes are fixed on something, law becomes urgent.

Limey, good reading and makes one think it is probable that the examiners report was soft as a pillow due to pressure (fear). We are talking billions and people get knocked off for far less. We need the facts presented to the judge in a way that makes it impossible for her to dismiss the corruption.

Probably the best post ever on this board. If you have never read “The Peoples History of the United States” by; Howard Zinn, you should consider doing so. The people rising up and making a physical appearance has made a difference through the ages.

Edit; Best post referring to Nursejeff's two previous posts.

Aladin, when the share prices start to fly, make sure you are wearing a heart monitor. When your heart rate reaches 215 minus your age....then sell and you should be alright.

Willingham has 1 mil. Commons which I assume he will have till whatever end this comes to. At this point his buying any more U’s, adding any P’s or K’s or selling commons would be considered insider stuff. Postings of negative or positive matters not. I’m betting on various posts from this board, yahoo's, ghosts and Willingham’s knowledge; of what he knew before buying in.

I originally bought some at .03 back in “08”, just to play on the rise and fall never thinking there would be a positive outcome due to the power of Wall Street and government over the little guy. Thanks to the DD of many here, I have come to realize the power of the “little ones” when they gather in numbers, and have since heard the beat of a different drum. Thanks to you all.

Instead of $24 I’ll take $8 as long as there is also jail time for a few miscreants…..Oh, and major news to wake up the general public, although if jail time is in the equation it will more than likely go higher than $8.

William, excellent read in your earlier post, thank you. Does the change from TPS to bondholders change your view on the coattails statement which was indeed powerful? I would appreciate anyone chiming in on the Coattails remark.

Thanks Voodoo, sad stuff happening in good ol' America. It would sure be nice to see our good judge put jamie in his place somehow.

Chessman, nice post. Ironically out of all the friends and family I mentioned this investment to, my ex-wife is the only one who invested. Hopefully the risk pays off and we can help the kids live an easier life. Most of the younger generation with minimum wage jobs don’t have a chance nowadays.

The delays always seem to take their toll on people (myself included); human psychology I guess. We have to remember “exigent circumstances”… sealed document in chambers…. would Susman allow himself to get into a no win situation (possible but not probable). Willingham and his 1 million commons. They have something to hide or debtors/jpm/fdic would have been forthcoming with unredacted documents to get the pos por accepted. If all else fails (which I don’t believe it will) this will go to trial on FC charges where there will be a settlement before Judge and Jury has a chance to award damages. Unfortunately the latter would be down the road a piece.

I appreciate our judge saying this;

Thanks ilenes, we now know for sure that our judge is not afraid of these thugs.

Rickszy, I know what you are saying…negotiate…give and take, but this is high profile and Susman has an incredible amount of pride as he has earned it. I could be wrong, but I don’t think he will want to settle for less than fair value and would probably like to take it to a jury trial to get it. The final decision probably rests with the EC though.

http://www.susmangodfrey.com/?id=146

Susman's landmark victory as a plaintiff's attorney came in 1980 with an award of more than $550 million to victims of a nationwide price-fixing conspiracy, the largest jury verdict of its time.

A native Houstonian from a highly respected family of lawyers, Susman worked his way through Yale University, graduating magna cum laude. Returning to his home state and the University of Texas Law School, he was Editor-in-Chief of the Law Review and graduated first in his class, with the highest grade point average in the school's history.

After serving as law clerk to The Honorable John R. Brown of the Fifth Circuit Court of Appeals, Susman clerked for the United States Supreme Court. A recent biography of then Justice Hugo Black states that Susman was the first law clerk whom Black trusted to draft opinions for him.

I’d like to think our judge has been unhappy and is now smiling due to Susman bringing some evidence to light. Her statement to Rosen, as to the effect of “why the hurry” when he was trying to rush the POR through was a subtle message that had to ring loud in Rosen’s ears.

We may see another delay(s), but only because of extra time needed to finalize a just settlement. I have a feeling susman’s show stopper indicates settle up or suit up. JMO

Maekuz,

Kristall, it is believed that was someone refering to the WAHUQ price agreed on sometime in the past.

XOM, thanks for taking the time to put that all together. Truly fabulous.

“Should have held out for more” was the phrase of the day and speaks volumes about what is now starting to run down the pipeline. IMO

JoePick, Yes and all those pointing fingers are going to come from more places than just WMI/JPM/FDIC. We have talked about rating agencies, Goldman, SEC, etc. Somehow I think a lot of different entities might be throwing dollars into the kitty to keep a lid on this thing. IMO