BlueFoxx, all of our memories fade so not to worry but let me discuss what happened and this is from memory but I will touch on the key details.
You asked "My memory is a little foggy these days, but I do remember they were allied with each other and that is why Mcmahon stated "We need an EC!" THJMW complied and we lived. It was Nate who singled out the SNH's for Insider Trading."
Between Aug/2009 and Dec/2009 the key players were Weasel/Gotcha/Mangle, Quinn Emanuel, JPM, SNHs and some other players and most people still thought Rosie was working for the WaMu Estate. So when the SNHs finally realized Rosie was REALLY working for JPM/US Government all hell started to break loose with the SNHs and Quinn Emanuel. Obviously, I do not know all of the details but the following are some details that may pull this together a little better for you.
There was an 800 to 900 page filing that I called the "BOMB" because when this was dropped/filed in Dec/2009, it contained Sheila Bair's personal phone number to Jamie Dimon, emails from many of the key Executives with JPM discussing many illegal details. AT&T had WaMu Executive offices wired (highly illegal) illegally (not illegal for AT&T)to monitor what the Executives were actually planning. This filing was around the same time frame as Joe McMahon made his infamous "Exigent Circumstances" filing with the court for an EC which was Dec/2009. So the bottom line in there is no honor among thieves and they almost destroyed each other before we really knew that Rosie had totally sold out the Estate and equity. Rosie's real problem was there was just way too many billions of dollars to hide in cash (over 50 billion) and assets.
A few months before this Dec/2009 filing, the SNHs and Quinn Emanuel found out Rosie was working for JPM and going to gift ALMOST everything to them leaving the SNHs high and dry. This did not bode well so all hell broke loose and the shoot-out in the OK Corral was on. With this "BOMB" of a filing which contained enough details to bankrupt JPM and then JPM followed with a filing of insider trading against the SNHs. This is the FIRST time insider trading was brought to the surface and then quieted which was around Dec/2009. This had NOTHING to do with Nate Thoma at this time.
So quickly moving on when there is "no honor" among thieves and what do they do when they are caught and about ready to expose each other to the world along with their crimes-yes, they make a deal and that is what happened. The SNHs carved up what they wanted with JPM/Rosie in a truce to make a deal and share the stolen "Enterprise" so on March 11, 2010 the four year term sheet was signed and then the infamous rant from Rosie on March 12, 2010 discussing his POR and no money for equity. But at this time the SNHs were going to get a whole lot but it was all disguised to be at the end of the case hence, the four year term sheet that came due March 2014. They still had planned to extinguish equity in total but as we know Susman who was just getting a foot hold in early 2010 was to change the entire receiving end of the Matrix payout which capped the Piers and left equity to receive IMHO what the SNHs were planning on stealing.
I will not go into all of the other details but I can assure the SNHs did NOT just want a handful of tax attributes in a fifty cent shell company they may not be able to use in years. IMHO, they made a deal on getting paid for the 363 sale and many other assets while JPM got the brick and motor buildings, ATM's loaded with cash, mineral/oil rights and so much more but you get the idea.
You will never find the filing that I am talking about UNLESS somebody printed the 800 or 900 pages because they killed the link on everyone's computer and it is has been deleted from the case and court because it was so full of destruction for many people. It was deleted just like the insider trading information that Walrath gained after her trial with the Hedge Funds, then forced mediation and indirectly advised them to come out of mediation with a settlement or very troubling times would be ahead for the players.
Equity had nothing to lose at this point because they had already stolen everything so a settlement is what happened and no I DO NOT believe it was for a handful of tax attributes in a fifty cent shell company with what was in play. Only time will tell for sure, but we are getting very close to the final and official close of the P&A. Have I said how much I LOVE my ESCROW SHARES lately?
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