HM, I speculate the following and stress the word speculate.
There is no incentive for the HF to settle with the EC if they know that there are 20B to 40B in the Estate. So the following scenarios are possible:
- The HF do not know about the SH and securitized assets very well, nor that the FDIC had withdrawn some assets from the sale. Remember that Susman got to peek at the book briefly and then he came out and said "that's enough"? So Susman being very smart can learn what is in the Estate by glancing at the book while Rosie can charge tons of money and work 25 hours a day and still could not get it.
- Another theory is that the HF knew well about the money in the Estate but because they committed IT and then Susman threatened a major lawsuit, it is not the HF who had to worry anymore but the FDIC and JPM worried too. And so all in a sudden, they came up with 7B to pay the creditors in full and that 7B came strictly from the deposit and tax return money and nothing from the Estate. In POR 6, where was that money because it was not mentioned? In POR 7, all in a sudden there was 7B to pay the creditors.
So once the creditors are paid in full then legally, they cannot claim anything in the Estate anymore. I stress the word "legally" because even if they see a lot of money, they cannot have it because they are paid in full.
In reality, I bet that those HF turned around and bought the old WAMU stocks secretly using their accounts in the Cayman island. They bought in a manner that is not too obvious to raise suspicion like they did with WAHUQ (PIERS) and then Nate Tomas could not buy any shares on the open market and then he discovered IT.
So I think that the HF are now among us. The so called escrow is not owned by retail small guys like us only but there are also the HF among us. The most public one is Tepper but there a bunch of other HF that hided behind accounts in Cayman or Bermuda.
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