What is happening with the court proceedings, new and old filings, billing statements and an examiner with the possibility of a trustee later, does not point anywhere to us wanting a "fair" buyout price from JPM Chase. It all points to either:
1.wanting justice which includes damages for all the wrongdoing done to us
2.assets returned to us to afford us the opportunity to have competitive bids from different institutions/companies
3. assets returned to the rightful owners to resume banking operations
Nothing that is happening should give the impression that we are seeking a "reasonable" buyout offer from JPM Chase. Which if that were the case, JPM would have the option to purchase WAMU by any numerous ways that would be accepted as payment. Whether it be cash and/or stock, or any other form of accepted payment. We are in no way going through this headache to allow JPM to retain control of our assets.
If stock from JPM were a possibility being accepted as payment it would be a foolish decision especially since alot of people think there would be restrictions on JPM stock. Jpm could declare bankruptcy, get seized by the FDIC or even eliminate their common stock making it worthless. Jamie Dimon himself has stated that stockholders in a company should eat all the companies losses. Let alone our own government informing us that "NO BANK IS TOO BIG TO FAIL."
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