The FDIC threat is baseless, however, if people realized that then the pps should have never dropped, or at least gone up by the end of the day. I don't think people are certain of anything right now. What has happened between 4 PM and now that makes wamu's case any better? If the answer is nothing,then there is no reason to believe the pps will go up tomorrow based on anything having to do with the court. Personally I don't think it will drop much more for technical reasons, but I can't say for certain that it will go back up.
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