Maybe THJMW incongruously awarded the TPS assets to JPM because JPM already agreed to buy everything lock, stock, and barrel ? How can TPS argue that, and lose, unless there is another purchase agreement under-the-table by JPM, for ALL of the debtor?
It makes perfect sense to explain how the judge could grant TPS assets under those circumstances. Could be this is actually what SUSMAN flashed Rosen that caused a panic, and comments in the elevator of "you should've held out for more".. that in the document dump by Weil/G/M was reference to a complete sale to JPM
Remember JPM offered $8 per share for everything in 2007 and didnt win the bid? They obviously wanted 100% of WAMU bak then - holding company and everything.
Remember how the 5th Amendment Taking lawsuit was never appealed, or reinvigorated?
What if there was another global settlement outside the Texas Action....with gag orders all around...where the only way for the FDIC to hide this massive mistake and RICO was to back JPM in a takeover bid for the whole WMI shebang? bank and hold co? If you limit the parties involved, you control the narrative. If JPM takes over, then ALL the dialogue is just between them two, without a third party WMI which is compromised of pissed off feral activist shareholders like me who threaten 100's of Billions in claims in a 5th Ammendment Taking lawsuit. That lawsuit could never see the light of day !
It makes sense when you think of the headache unwinding what's WMI and what's WMB? Why would JPM just give up on what they wanted in the whole enterprise, and just settle for the bank? It makes sense when you think about how long this is taking...knowing JPM could be in charge? I'd drag it out forever also if I was them.
JPM and the FDIC had enough leverage over the WMI BK debtors with matching earring claims of $50B they could've motivated another set of negotiations over the WMI holding CO separately. Interestingly those JPM/FDIC matching claims leverage magically disappeared days prior to reorganization.
Also...Who fought against an equity committee representation? Alice. Who worked for JPM at one point? Alice. Who fought to delay for years via litigation that cost WMIHs its first failed acquisition, and much delayed the second acquisition of Nationstar years later ? Alice
If you were JPM in charge, wouldn't you spend a few bucks to drag out paying up for years...the final settling of accounts ?
Further, if true, this is the only scenario I could see where waiting on the FDIC applies. JPM can't get a final tally, until the FDIC can make a final tally and terminate receivership. So that mutually beneficial circle j$%k just goes round and round forever.
