At the teleconference organized by Investors Unite, Fairholme's lawyer said the government had two choices: 1) Come to him and settle for $30 billion in credits. Or 2) Proceed to trial and pay $125 billion.
For those that imagine that the government is in control, look at the interlocutory filing to the appeals court. Items 1 to 3 relate to direct claims. I can see a lot of merit in these. They are mainly to benefit the preferred plaintiffs directly, rather than have all $124 billion go to the corporations.
Items 4-6 are government's last second Hail Mary Pass.
Relating to the $180 billion (actually closer to $140 billion) Judge Sweeney compared it to a mafia loan. Attached is 955's compilation of her comments in court:
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