Of the 4 Horsies- One at table early-Eating VERY well-IMHO!
Now what actions do we have here with the Horsies? It is very interesting to see the actions of the four Hedge Funds. They all filed objections except Aurelius and what does that action mean? To me it means one of two actions, either they did not do any insider trading (hard to believe but possible) or they wanted to be the first to the table and get the main course instead of being Bubba’s main course. I find it very hard to believe they did not partake in insider trading as the EC was not even on board for the first fourteen months of these chapter 11 cases. Then you look at the actions of Rosie and his team and those actions are defensive for the first time in almost two and half years which is great news if you are long.
Let’s look at the dates. On 1/7/2011 the POR is denied with explanations that WMMRC would have to be evaluated with the new NOL’s and more. Now we learn that E&Y were brought on board on 1/20/2011 with not a word mentioned about this until 2/25/2011 which I say is a considerable time lapse notifying the court for reasons which are nothing more than detrimental to the Estate. Then we have all of these objections filed by the Hedge funds on 2/25/2011 with the exception of Aurelius and maybe for very good reasons.
So I will still stand on something VERY positive happening to Equity on or before 3/9/2011 due to Susman’s objections to the Disclosure Statement being due. Susman has to bring on firepower as the EC can ill-afford to let this Judge even get her pen close to signing the POR. With that said, Susman has to file evidence (assuming he has it) of insider trading, the Debtors NEVER using Auditors/Accountants and other information he MAY have received from Aurelius and/or others. The criminals know this as well and once criminal behavior is filed with the court it may be too late for the criminals to protect their standing in society, their careers, families and most important-prison time. I am getting ready for POTENTIALLY voluminous/exciting trading on WMI equities during the next seven trading days.
