Where the rubber meets the road! Filing on 3/9 COULD change everything!
I have said for a while now the filing that Susman makes on 3/9/2011 could be the filing that changes the course of this entire case. I feel Susman has the evidence on insider trading and if he does, now is the time to bring these charges forward. The EC legal team has to file any and ALMOST everything in order to stop or least slow this process toward final confirmation. I do not expect Susman to show his entire hand, but he has to show enough to prevent this Judge from moving forward with confirmation of this amended POR 6.
Before the start of the hearing on 3/9, I would expect there to be a chambers meeting prior to discuss the evidence that Susman has and what he is planning on doing with it. I cannot imagine the Hedgies letting Susman file what maybe evidence of a crime, whether it is under seal or not. It just does not seem reasonable that Tepper would allow Rosie to continue with this sham knowing it could put him and others in jail. There has to be some dialogue going on with Tepper and Rosie and which direction they are going to go. We know JPM and the Hedgies were responsible for doing much of the illegal shorting, naked and otherwise and rumor mongering to bring WMI down before bankruptcy filing.
This is where it gets interesting because Tepper and JPM have been connected before so what does Tepper do? I think that is easy to figure out because these kind of people are NOT going to jail for anybody, so what does he do? He could call Rosie off and have Rosie include the EC and if he does not do this, he then has to face the wrath of Susman (love this) and so I do not thinks he has much of a choice.
What I find very interesting in what this Judge has allowed and not allowed. This Judge has given EVERYTHING to her Government employed boss and JPM (same) except the NOL’s and she allowed them to grow by turning down the POR and bringing this case into the year 2011. So as I talked about in an eelier thread, this Judge has stopped the Government’s waterfall at the NOL’s. I feel the Judge may want to give equity the new reorganized WMMRC if the crime of insider trading is proven, not understanding or possibly even knowing the crime these perps committed by bringing down WMI prior to chapter 11 filing. This is where it gets fun for the EC because Rosie cannot tell the Judge she cannot allow equity to be in the money because of the potentially one to two billion illegal shares out there. It maybe the Judge wants to give equity this and this becomes the criminal’s conundrum. They cannot tell the Judge they committed these crimes against a major corporation to bring it down, so how do they get her to understand the significance of allowing equity to be in the money? Fun, fun and more fun. I hope to see green, green and more green for equities VERY soon!
