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Alias Born | 10/01/2009 |
Friday, October 04, 2019 3:07:27 PM
Lawyers are usually very careful about what they say. They are also often very good at saying something that is completely true concerning a limited scope but doesn't say anything about the greater situation.
ALL of my hopes for this investment hinge on the following supposition:
Because the bankruptcy court has not been told how much is in 'safe harbor', Rosen officially knows nothing about it and can truthfully say there is no money for escrows. THJMW squelched attempts to disclose that information in court so he is not going to be allowed to state it.
When you listen to Rosen talk, listen very carefully to HOW he says things. For example, 'I am unaware of' is a slightly different animal than 'There is no'. Yes, I know he said 'There is no' in the past. Recently, however, I get a sense that he is a little more careful in how he says it.
At the same time, there is another piece of information that is pertinent. In my understanding, rules for liquidation accounting prevent the acknowledgement of any value that has not yet been received. That is to say that even if you are sure something is coming, you can't include it in the balance sheet until it actually arrives. I am sure that this statement should be clarified by someone who knows more about liquidation accounting than I do - there may be circumstances where it can be included based on the situation. So, officially, the LT does not show the money and Rosen can't talk about it.
Again, THIS is where all of my hopes are. If Rosen is telling the truth about the greater situation, this has all been for nothing.
Here's hoping AZ is right. Here's hoping justice is served. And here's hoping that the massive amounts of money JPMC has been raising (1.4 TRILLION) are (at least in part) being raised to make us whole.
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