Washington Mutual Preferred fka WAMPQ

[mordicai]

There is an old saying that if a town has one lawyer he/she is poor, but if there are two lawyers both are rich. But it is the stubborn/headstrong client that prolongs things. One who fails to accept the advice of his/her attorney. Here we have Sheila taking the position that shareholders shouldn't get a dime. We have Dimon saying he isn't going to pay anything additional...he already paid more than a dollar. Then we have common owners failing to see the probable liquidation scenario forthcoming either within a Chapter 11 reorg or a Chapter 7 liquidation with a stalking horse bidding process. The big problem here is Dimon is fighting with JPM money, Sheila is fighting with the 1.8 billion seizure price, and the common is fighting with either holding company money , noteholders money, or even ec members money (shareholder meeting case). It is hard for a case to settle when the parties are using other people's money to pay the lawyers. The only thing that settles this case imho is when time runs out for one or more of the parties...when the judge finally makes a decision which will bring the case to a head. She worries about expense but just think what her inaction has cost the parties. The EC needs to force her to do so by calling up for hearing the fdic's motion for relef from stay relating to the turnover. Just having it on the calendar will force Rosen and quinn produce discovery all the more faster to the ec imho. An appeal of her examiner decision would be a nice touch as well.