After 7 months JP Morgan still holds 4 billion dollars, the ownership of which is contested on highly questionable grounds. Imagine someone keeping $250K of your money after you ask them to hold it for you. You ask for it back and they say it is not yours because they have it. The bank holding company is not the bank. The money belongs to the WMI, the holding company. Sheila Bair and the FDIC have admitted publicly that they have no legal right to seize holding companies. Therefore JPM is simply saying, "possession is 9 10th of the law". If this is this true I may have to go into the thieving business too!
Your line has to be in the water to catch a big one.
