Was anybody else having a hard time with understanding why JPM was selling aquired assests at such rock bottom prices? Such as the recent sale of some of the great WMI real estate? It wasn’t making sense to me until I realized, IMO, that JPM is shuttling these assets at dirt cheap prices so when the pay out comes, they can say “Hey, you can’t list that real estate asset at 2 billion, we only got a billion.” It’s a very sneaky way of huge interest profit in a short time. I think that is one of the reasons that are counsel stated in “JPM was delaying extract better terms.” If you know that you are going to have to give the asset back, why not just sale it and hold the cash as long as possible and earn the interest? For the nay sayers, I would have to point to the fact that if JPM was selling assets that WMI felt was theirs and they wanted back and WMI wanted to go through the trouble of selling when they got it back, which would be a nightmare since they no longer have a company fully equipped to do this, WMI would be flying fast and furious with the TRO’s and Lis Pendens on property gumming up every bit of title transfer of those properties. You can argue that FDIC already transferred title, but it doesn’t matter, WMI counsel wouldn’t be afraid to file the TROs and inform the court that JPM denying the creditors from getting their full benefit. IMO, WMI counsel knows that this is going to settle so they don’t have to fight over that. The only fight was the 4 billion which was a settlement breaker. And, thank god above, JPM will be forced to address that soon. Not, that I don’t hate JPM enough already, but I know that bstrds will appeal any summary judgment against.
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