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Re: None

Wednesday, 08/18/2010 10:58:11 AM

Wednesday, August 18, 2010 10:58:11 AM

Post# of 730507
I think it's safe to assume that the examiner served the first round of discovery requests last week - or at the latest, early this week. As such, if we don't see any motions for a protective order filed by Friday the silence will probably indicate that the parties are in compliance with his requests.

Lots of things are happening in the background right now. We recently saw the ERISA and IRS settlements filed on PACER (reducing liabilities and giving us a nice cushion thereafter) and discovered, thanks to Boston at Y!, that the sale to JPM has yet to be finalized (shows the FDIC's substantial leverage over JPM). Unlike the court, the examiner is not going to slow down or stop his work to give the parties time to settle. He is going to proceed and strive to conduct the investigation within the court-ordered timeframe. IMO, time is JPM's biggest adversary - then comes the EC. Lets hope this game of chess ends soon.

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