Three is a crowd-Could be total devastation for the odd entity out!
This case is even more inbred than what it originally looked like. Let’s take a look at what is going on with all of the players. I will identify FDIC/JPM as one entity for the sake of argument as they both ultimately want the same outcome-give up nothing and receive everything. Next we have Weasel/Gotcha/Mangle representing Tepper and the Hedge Funds who also indirectly represent JPM. I think it goes without saying that JPM used these Hedgies to take down WaMu pre-bankruptcy and if Susman finds evidence, probably post bankruptcy on numerous times as well. Then of course the third player being Equity, the only one who is separated from whatever negotiations were being held involving finality in this case.
What goes on from here and how is it handled will be not only very interesting but could also decide equities fate within the next sixty days or sooner as well. We all want to believe Susman has the evidence and I tend to think the evidence would be easy since it involves, times, trades, dates, POR planning and who was at the table when this was happening. The problem is if Susman plans only on using the bankruptcy court for his filings of evidence on insider trading. I say this because this Judge refuses to enforce almost anything involving showing A>L, just like Ilene’s jerry rigging the voting process and the Boli/Coli five billion in funds. She ignores EVERYTHING that has to do with equity, so I have to expect more of the same. I just hope as I discussed in another thread that Susman has the evidence and can threaten the Hedge Funds into working with Equity, but Susman would also have to have somebody credible to enforce the insider trading charges.
If the Hedgies are trapped with the insider trading crimes, then what happens to their inbred loyalty to JPM and Tepper? This is where it really gets interesting in how this plays out. I feel the pressure is mounting on the Hedgies as I am sure Susman, if he is holding the evidence has given them a “drop dead date “ to concede. The easy way this plays out is if they all (including equity) agree to a price, but the way this inbred cluster is headed, that does not look like it is in the cards. How does Susman handle a Judge who does not follow the law or enforce anything in her court room? Does Susman go after the Judge? Since the Judge refuses to make any decisions on anything that would make A>L, does all of this get ignored while she races to confirm? I would hope we see something from the EC regarding offensive moves very soon as opposed to always filing defensive moves. I wish I had a better idea of what is coming from Susman and hope I do not have my hopes set to high for his team, because I am truly expecting a “shock & Awe” when he finally makes his move.
AI
