Greed=bad decisions=time/delay=Loss of control=Rosie’s firm destroyed!
We are on the last furlong to see if Equity is “in the money” with as long as seven weeks to maybe only days or hours. So far we know that 8/3 is the date for written objections and 8/15 is the final date for oral arguments, but there are far more important, self destructive actions and decisions that have to be made. Some of these decisions and actions may destroy many careers and families due to continuing bad behavior and just plain greed. The way I see it, Rosie’s actions and decisions as far as the Estate is concerned could be coming to an abrupt end and I do not mean by any decisions from the Judge, yet. When we look at all of the evidence, I believe it is safe for me to say that I believe most will say there is overwhelming evidence of nothing that could be considered “fair and reasonable” with POS POR 6+. With that said, can Rosie gamble on Walrath’s decisions which could be as easy as giving the Horsies the Federal Judgment Rate which puts A>L, thus increasing the waterfall to preferred equity and this does not include the NOL’s or the NEWCO. If Rosie does not know what the Judge is going to do, how could he gamble his entire firm by risking that Walrath turns down not only the POS POR6+ but also the Global Settlement which should also include total disgorgement of the Horsie’s claims of over two billion dollars, thus putting Equity in total control?
One has to think what this decision (s) would do to the Horsies and keep in mind they are not a signatory to the Global Settlement. I would have to think the Horsies would go after Weasel/Gotcha/Mangle for billions in malpractice, failure of fiduciary responsibility, unethical behavior and just plain fraud plus Rosie could/would lose total control of this case, open ended liability from many, many different angles and sources. In my opinion, JPM/FDIC threw the Horsies and Rosie under the bus when the Horsies were forced to be deposed due to no settlement. Time could fast be running out on Rosie after Susman pulled out of the agreement that Rosie haphazardly announced due to whatever reasons. How can Rosie continue and let Walrath make a decision on the POR (unless he already knows) as he would be putting his entire firm at risk? This would be assuming Walrath would do right by denying the entire Global Settlement and total disgorgement of funds from the Horsies. I think without any deal from JPM/FDIC which in my opinion is very remote or any other deal from Susman/Horsies, Rosie has no choice except to pull WMI out of the Global Settlement. This would happen before the written summation on 8/3/2011 but would have to happen before 8/15/2011. With all that was disclosed from the hearings, I have to think the Weasel/Gotcha/Mangle have to seriously be considering pulling WMI out of the Global Settlement and if they are not, it worries me they are know the predetermined outcome.
