I agree completely. We know Weil will have the forensic accounting needed to show just how good of position WMI was in and with discovery just how bad JPM was in and who should have bought whom. We know that GS had access to the books of WMI to broker a deal for the sale of WMI and then they turn around and issue a sell short advisement for the stock but to buy the debt. What is with that? We also know Paulson then Chairman of the Fed. Was a GS man first, he wanted WMI to sell to JPM and when they didn’t he had WMI watched like no other bank and that both JPM and the Fed had people feeding them information on the bank almost hourly. We also know WMI had over 21 billion dollars of liquidity that was not accounted for. We know the FDIC did not with hold the 17 billion from WMBfsb for the payment of their debt as they should have and that JPM got away with that.
With the proper accounting and extending the business out in perpetuity the damages could in theory just keep going.
Finally when you look at the collusion between the two and how they more than any thing else have destroyed the financial market and the wealth of the nation on the whole. JPM should just be wiped of the face of the earth all of their assets dealt with appropriately and their management and boar of directors and every one involved should be doing time in a very boring place with little sunlight.
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