Climber, be careful what you wish for. If WAMUfsb does indeed belong to WMI and they do have $20B surplus then we should not be in BK court. If A>L then we will get cleared from BK court with no settlement and ongoing litigation (for years) to sort out this mess. Weil/Quinn are doing an excellent job. In Bankruptcy Court they have JPMC boxed in with no where to run and no where to hide. Immediate deposition face them under the 2004 rule. I am confident all assets of WMI are being tossed in the face of JPMC for settlement talks. Back in December when the Assets were calculated we were all disappointed to see A<L. WMI original BK filing reported $32B in assets and $8B in debt. Where did all the assets go? Weil/Quinn were very clever in reducing assets by putting the disputed assets in like an escrow account, saying these were disputed assets and could not be part of A/L ratio. That is what insures we stay in BK court. They drew JPMC in to a fight that they were sure to lose. Even JPMC now wants to withdraw its adversarial proceedings, too bad, too late. They are now locked into a battle they are sure to lose. The only recourse for JPMC is to settle pure and simple. Weil/Quinn have lived up to their stellar reputation by getting JPMC into a corner with no escape. We don't want more assets, just a large settlement.
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