the hedge funds were doing insider trading because of a meeting held by JPM that they had struck a GSA deal with FDIC, SNL holders and creditors of WMI that the various classes would be paid in full, plus interest for their claims... previous to this meeting the debt instruments were selling far below their worth...in the GSA agreement, WMI, in return for abandoning all claims against JPM, and forfeiting all their assets, WMI was to receive 4 billion in savings deposits, plus 2.5 billion dollars share in the tax refunds...which was about 6.5 billion dollars...WMI, through A/M liquidated about 400 million in their assets, and were to form a WMIL-T to fund the money to pay creditors claims in FULL, plus INTEREST... thats why Nate Toma went before the judge, because he suspected hedge funds were furiously training by inside information....so, the hedge funds were not trading for Safe Harbor assets of WMI, they were trading for the various debt instruments that were going to be paid FULL VALUE, PLUS INTEREST....WAMU made the loans and securitized them and sold them to the GSE... all of them..thats why JPM sued the FDIC because a lot of them were faulty, and had put backs....WMI had to make a deal to come out of chapter 11 simply because JPM was going to counter sue WMI for 27 billion dollars if WMI initiated any court action to pursue their assets....The litigating trust arm of the WMIL-T was a red herring... it never sued JPM for what assets JPM received from them...the only action they brought was the Employees claim that was denied, and we got their portion of the shares allowed to them...Rosen was correct in his statement... WAMU had no Safe Harbor assets, they were securitized and sold to Freddie and Fannie....Lodas
