Hedge Funds actions = prison=information=some justice!
With four of the Hedgies depositions being delayed to post Easter Holiday, it does make one wonder. I have long thought if this case were to ever reach a point where people would have to worry about going to jail, real actions would start to happen. The Hedgies, even though they are not part of the GSA, does it really matter as they are going to end up with the reorganized WaMu the way it currently stands anyway? We have to realize early on and before there was an Equity Committee even seriously considered these very people had drafted the original GSA plan. Remember back during the Xmas/New Year Holidays in 2009 when this settlement was suppose to be announced (so planned early in 2009) but earlier in that same month the 800 pound Gorilla was dropped with Tim Main’s email, showing Project West and a lot of criminal evidence along with the planned (war room) take down of WaMu. On or around 12/16/2009, Joe McMahon introduced his filing (exigent circumstances) for the EC. Sometime during this same month, Quinn Emanuel was a huge player in all of this mess as well and they were having issues with Weil about where they stood legally in this case. Obviously, the criminals had to regroup, get on the same page and then this same GSA was announced on the infamous date of March 12th, 2010 and we ALL know what happened then. Actions do seem to be coming to SOME kind of head and I believe very positive for longs.
I do not think a settlement actually has to happen soon although possible, but what I do expect very soon is the Hedgies to reveal how they are going to play this by either working with Equity or taking a chance and gambling on prison time. I say intelligent, smart and savvy people will NEVER gamble on going to prison. With many thanks to Thoma, Gibson, Ilene (Ihub) and many others, we would not be in this exciting position of the criminals in a very trying position, which position equity had to have to win or at least get a seat at the settlement table. I will also say as long as ALL four Hedgies do not end up being deposed, Equity is in a very exciting position. If three of the Hedgies get deposed and one holdout, IMHO, that would be the talking horse and I am sure some of that has already happened. I believe we will have a good indication where the Hedgies are going by the second week in My, 2011. The intense quietness, non communication, no voting instructions and much more is all discussed in Susman’s Bio about how he wins cases and this strategy so far is exactly following this strategy. We shall see SOMETHING very soon. Happy Holiday to all and have a SUPER week ahead!
