Mordicai, I fully agree.. Two seperate motions addressing two seperate issues. IMO SJ ruling coming soon. And The FDIC setoff rights will fall into line with all other creditors.
And if that is the case. If the FDIC did not get their claim in before the deadline. They will have the claim exponged.
Today, JPM will have had the treasury auction off the Warrants.
THey are now free to close the deal. And settle up with WMI.
I feel that the SJ ruling will be issued prior to 19 Jan 10.