Wednesday, May 27, 2009 8:19:12 PM
Here is my take:
1. She rules in early June that the depositors account at JPM is indeed owned by WMI and not WMB. Money will need to given back (JPM will appeal)They will lose, but everyday they have the money on account, the more they make from it. Heck its paying their lawyer bills right now...
2. She rules in favor of BK 2004 discovery on a limited basis. Kind of like a search warrant allowing the police to go into a house looking for a gun that was supposedly used in a shooting. What else they find will be inadmissible in court.
(JPM will allow limited, but will not be ready for the next wave of evidence our side possesses. She will be granting a basic unraveling of the JPM books and along with that they might just stumble upon a gem in the form of the FDIC in the mix. FDIC is a tough sell, because it is the government and they are very dangerous to shareholders right now!
3. JPM will file a motion to have the rulings dismissed in a higher court and might already have friendly judge waiting for it. If the motion to dismiss the BK 2004 is granted, then we go back to the drawing board and move forward with the other lawsuits. Motion then will go on to Supreme Court.
I am not sure if the evidence found in the BK 2004 examination can be used as evidence in the Delaware and Texas (corruption) lawsuits. If it is, then we are on our way to payday.
If JPM does not settle by then, then they will be hoping for a favorable verdict on the suits. The BK reorg plan has to include the 4bil, so we need a ruling on this ASAP>
If we get the ruling, then the stocks should easily double in value. We might actually see the .18 resistance wamuq and break out after that. Remember she can rule on the 4B any day and it should have a nice effect on PPS.
ALL IMHO>>
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