What the Disclosure Statement decisions could mean!
This case has more twists and turns than a coiled up rattler. There has to be some actions very soon that will direct the course of this case. If the Judge goes by any of her directions/decisions made in court on 3/21/2011 and based on Rosie’s actions with his reply to the Judge’s directions, then there is no way this Judge can approve the Disclosure Statement. She did not approve it on 3/21 and now she has called Rosie out and he has refused to accommodate any of the Judge’s mandates. Rosie cannot show assets greater than liabilities because number one that would be tantamount to admitting bankruptcy fraud and number two he would lose control of the case to Equity. So does the Judge ignore her own demands or does she push this through to confirmation? If there is a true settlement in the works, then I say she pushes this through as there will be no confirmation hearing and the settlement would be announced at one the two upcoming Holidays such as Easter or Memorial Day.
I say this because Sheila Bair’s term ends I believe in June. I cannot imagine the criminals wanting to leave this case dangling with a lit fuse, just waiting to make fireworks around the world and let the new Chairperson have to deal with this mess and not to mention the President’s reelection campaign will be starting. The last thing the President wants is to have this case light up the world as he is starting his campaign. If the so called “power players” have any thoughts of ending this, I would think the window of opportunity is rapidly closing in. Now if the Judge follows any of her own orders and she denies the Disclosure Statement, then that tells me there is no settlement in the offing. I would say to people if the Judge pushes this through to a so called Confirmation Hearing date, this should be deemed as great news if one believes in what I just discussed above. I have to admit it would be demeaning if the Judge approved the Disclosure Statement but we all know one fact – this will end at some point and I would be hopeful the Confirmation Hearing would never happen.
I have said now for two years the Judge would never rule on the four billion, a true asset list describing all assets would never be shown and now I am going to go out on a limb and will say there will be no confirmation hearing unless equity is included. With a settlement, everybody would be off the hook with no admission of wrong doing by ANYBODY, equity in the money and this all goes away quietly on an extended weekend announced before the start of said weekend and late in that particular evening. If anything short of this happening the risk to the “power players” is so enormous that I do not feel they want to risk this. Unfortunately, Sheila Bair will walk out of Government into her private life looking like a hero instead of the criminal that she really is. All of this will be a faint memory to some and to others no memory at all.
