You know what .. EC could do but refuse to do it. Susman does not want to be paid by hours, so he lets Sargent, Nelson, or some juniors are there to keep the case/equities alive. He knew equities will be in the WMI2 but with chicken bones.
Think about, if Susman gets too much for us, he is still paid by hours. Unlike in Thorngburg case, he is compensated by 30% of $2B. You don't see him in our court but he will be in TMST's court.
So, if you were this greedy old man, what you gonna to do? IMHO Not feeding equities too much at the best condition. Otherwise, shareholder would sign the releases. It turns out this oldman gets nothing big. He definitely wants to continue this case to DC. Since WMI2 has only 30 million reserved funds for legal action. trust me,this number is a joke. The only reason to setup on purposely low because he has the point to socilitate a big contingent fees (possible multi-billion dollars).
That also answer your questions why SS did not find IT but found by an amateur Nat. He was reserving it for DC court to fight JPM/4 HFs. Unfortunately, he has to deal with now. Why you always see a new face (Nelson, Sargent..etc) because he know $20B of NOLs will keep us alive. THE MOST IMPORTANT IS THAT HE DOES NOT WANT TO SHOW HIS SMOKEGUN UNTIL IN DC COURTS. THEREFORE, YOU SEE NOTHING NOW IN TERMS OF PPS.
Let us play his rules, we're too small to fight his conspsiracy. Let buy it at the lowest price after big sinks during the following days. WELCOME AND AWAIT YOU BACK w/very low cost equities.
AI
