Friday, May 01, 2009 10:24:45 PM
It is my personal opinion that WAMU gave JPM some time to review the offer, the books, the assets of the holding company, etc. After ample time passed, they probably gave them 6 months to come up with a reasonable settlement/buyout. I do not think it is coincidence that all the allegations and request for information came out on the 1st of the month.
The FDIC suit was good but, in reality, it was quite vague. These suits and motions are much more accusatory and get into the heart of the issues.
Wamu was silent long enough. It is about time the public hear the other side of the story. These filings are WAMU's way of saying we gave you a timeline, we were serious, and this is our proof.
Nice volley.
Things are about to get mighty interesting....
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