Not understanding what the HJMW meant. I, like many others, freaked out when our good judge stated that WMI had been examined to death. But, she was correct. WMI and its banking and lending policies had been examined to death even by the congress. But, actions of other parties had not. I believe that at that point, if there had been an examiner appointed, he would have only been able to examine WMI banking and lending policies all over again. Since, nobody had brought to her quantifiable proof of wrong doing by another entity, just allegations. She had nothing to set the parameters. So, there was no need to go over all that again. Hence, “examined to death.” I, we, failed to listen to what she was really saying. She needed cause of action against other parties to examine what we wanted. I think that she threw out a life line to EC, TPS, etc, warning them by stating, “examined to death”, that if you want to properly search this under what you’ve alleged, you better bring me something to go after those other entities, because right now, I have nothing to issue orders to an examiner to go digging into those other parties but alleged misdoing. Although, we believe and knew it to be true, this is a court of law and she can’t go by “theories.” In court, you are not allowed to go on a fishing expedition. You can’t say “Here’s why I think they did something wrong but I have no proof. But, if you give me complete access to all the records of every company that I want, I’m sure that I can drag something out of there.” Every court in America would run amuck with people searching every company records for “possible cause.” Cases would last forever. Our judge has always stated that she felt there was causable action against JPM. She just needed something hardcore to set the parameters of the examiner. I believe that she’s always been on the side of the EC, she has actually helped and warned EC on what to bring her so she could actually do what they wanted. I think that she’s been guiding them. I think that she was asking them to help her to help them. I think her examined to death comment was a help and warning that don’t request this examination without giving me something to show cause against the entities that you want to examine. AIMO.
