Ron, did you ever think about how JPM is a US Govt. proxy and can affect your assumptions? JPM has been helping , with derivative, US Govt and deep pocket to deflate Gold and other materials prices so keep petro $ inflated. Now petro $ is ending so Gold is going up. JPM Jammie Dimon and company (deep pockets) moving to India - and read his statement. US will be India's ally for the next 100 Years, yes, this is Dimon statement. Who is he and how is stating that on whom behalf..??
Read between the lines - he didn't say that India will be US ally but US will be India's ally. Does this affect your understanding on how FDIC or anyone else would pay anything for WAMU.. Again JPM is part of deep pockets and they are above US Govt. Sadam Hessein startled to accept EURO - Gone, Gadaffi started to accept EURO - gone.
This game is way too big for anyone here..