There is less than a week to go before THJMW issues the ruling on the 4B and SJ (there is no more time for JPM/FDIC). Are you seriously suggesting that the EC is just now entertaining first offers??? If we believe that a global settlement announcement is going to occur sometime between now and Friday, those discussions took place long ago, the EC is okay with the number (since they didn't object during Thursday's hearing). This week, IMHO, is simply to have the JPM/FDIC Boards sign off,and get all of their ducks in a row.