If JPM wins this battle, then the judicial system is about as broken as the rest of them and we are all in trouble. I mean this from the bottom of my heart, justice is warranted and desired for WMI and therefore should be swift and accurate. I feel strongly that the settlement has already been worked out and we are just waiting for JPM to be set free of TARP restrictions. Dimon is not stupid enough to risk a jail cell for a measely 30Bil. He can and will convince the board that a settlement and buyout of WMI and forthcoming undisclosed settlement with FDIC will "wipe the slate clean" and allow JPM to go back to thr business of running its new banks. They have alreay made the money that is required to finish this thing.
If I am right, tomorrow we see a rally, Monday we get TARP payoff and right after that with newly raised capital JPM is relieved of this devastaing lawsuit. WMI's counter-claims are massive and can lead to too many judgements against JPM. JPM's lawyers should have known better than too open the door so wide like they did, you know what happens. Uninvited guests come in (in the form of counter-claims) and put their feet up on your sofa and won't leave [kind of like the government]. Read Mehedi's post about Bopfan's statements. Perfect and on target as usual.
Remember the Judge has a job to do and is buying JPM some time, then the HAMMER comes down!
Creditors need to be paid and debts need to be settled! This why we are in BK in the 1st place or is it? I think our lawyers had this thing palnned from the start that they would use the BK court for adversary and Del court for Civil or criminal if ordered. SWEET I SAY !!
GLTYA
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