Thursday, November 26, 2009 8:34:16 AM
1) WAMU (307 billion Co.) was sold to JPMC for 1.9 billion in an overnight deal with no other bids being considered. This can not be spun... the writing is on the wall on this point... and the writing says "their hands were in the cookie jar doing illegal things". This was a bad deal, period.
2) There are documents and acknowledgments that indicated that WAMU was solvent at the time of the takeover. Even JPMC says that WAMU was solvent.
3) We have been awarded discovery to dig as deep as we need to... Iron Mountain has all of the facts safely stored... Weil & Co. has that bullet locked and loaded.
The list goes on and on as to why we are in a good position even though short term interest and holiday slowness are ruling the PPS now.
I would really like to hear from Moricai about his thoughts... his understanding of the current billings is greater than most, if not all other posters.
I think we are OK in the long run.... even though the PPS is sucking butt down at these levels. IMO.
John Gyver
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