Or here's another version from Larry on the other board,
"Bop, I agree with your query regarding "why" Dimon hasn‘t settled, but perhaps if we review some current and hypothetical situations, they would bring us closer to an answer.
1) Dimon felt he was “invincible” during the melt down and had the presence and the “power” to negotiate ridiculous terms to both the FDIC (who pressured the OTS), while they were panicked, paralyzed and inexperienced stewards.
2) JPM bagged Sheila and the OTS with “massaged numbers” and exposed their utter malfeasance
and lack of due diligence, including the complete absence of 3.1a which describes “assets transferred”. This makes for a nasty fight between JPM and the FDIC over responsibility for not only WMB’s takeover, but they are also probably trying to position themselves to defend a criminal action.
3) JPM thought they had Weil in the bag, (which they did with the bondholders avarice) but with their total arrogance never foresaw an aware Trustee, an aggressive and diligent EC and the prudence of Judge Walrath.
4) In their blindness to forge ahead with a “fixed” deal to JPM’s likings they didn’t take into consideration the Insurance Company lawsuit and also, didn’t foresee a subpoena from a Senate sub-committee. More than likely motivated by the WaMuer's and some diligent reporters like Kristin.
5) So much time has elapsed that the original game plan is a disaster and the movements so fluid now, that JPM, Weil can no longer predict with certainty the end game from here and probably haven‘t fashioned a Plan B because the enormity of what's ahead was not considered.
6) If fraud is discovered with 3 inquiries pending, the old shareholders will rip them another azzhole, further, if discovery is expanded, (which I think it will be) then they are open to a “tort” by WMI and others as well.
7) Just a quick look at the playing field says to me, Weil has lost control of the end game, Sullivan & Cromwell are totally without abilities to defend JPM, their only tactic now is perfunctory motions ad nausem , (but certainly still soak JPM for services).
8) WMI’s new position (EC) is stronger than ever and maybe they are the White Night, along with Quinn, Emanuel, to really turn up the heat.
9) I also think that the results will now be in a higher settlement range and could be resolved in the near future, but still all paper and some cash from the FDIC .
I will also go further in my thoughts, although the fire will be quelled between WMI and JPM/FDIC, I think Pandora’s Box is already wide open and the ensuing months will reveal transgressions and fraud to the point it can’t be ignored and we will see Jamie Dimon resign, possibly facing charges and Sheila step down claiming a “great job done” after signing of on a substantial settlement with WMI in lieu of a full blown trial against her, the FDIC, OTS and probably Paulson as well.
In regards to the above, I think Judge Walrath will play her cards wisely and give the parties room to settle which will be a feather in her cap, not to capitulate to the big and powerful. I think she has the same presence of mind as the Judge who recently refused the BOA settlement and forced them back to negotiate a far higher amount. I also think she senses some big heads will fall and would rather be out of the criminal mess and leave it to another bailiwick. In some respects, she could also initiate a DOJ inquiry.
To get out of this mess, will require a very complicated global settlement, which I think the BOD of JPM will agree to over the body of Jamie Dimon,..to clean the slate and start anew. Dimon is toast , the game has changed, he has met his Waterloo ! "
News 
Market Data 
Discover 
