Actually if Solomon has a new asset valuation to give to Susman, who in turn will use it as a "screws tightening" tool against JPM/FDIC in negotiations, it will not be disclosed to us until Susman team is convinced JPM/FDIC are not going to bite. In negotiations, you always want to have the "trump card" that will tilt the balance of the table in your direction. Once you have something of value (like Assets or Freedom) that you can hold over the adversarial parties heads, it becomes your table. I feel JPM/FDIC knows there is a "smoking gun" and when it is found (unearthed) they will approach the table with a checkbook and start real negotiations.
Susman team will slowly release (Slip) small bits of info (30 Billion statement by Nelson) in court that will tip off Equity to what they are really thinking as they work the sides and Steve jabs at the heads of Dimon and Bair. Eventually the release of "public" info that is damaging to both JPM/FDIC future "public opinion" will make them come down from the protection of the 37th floor. The info has to be extremely damaging to JPM's future as a banking leader and investment house. The info has to be equally devestating to the FDIC's "public awareness" campaign. You know the one they put out saying how they have control and no one has ever lost a $$$$ in one of the banks. You know the one Bair saying "we are the government." You know "WAMU had a liquidity problem" You know Jpm saying "at no time on or before Sept 25th was WMB insolvetnt" Remember that one ???
Until the damaging information is threatened to be released publicly, JPM/FDIC do not need to capitulate to equity for the sum equity is probably asking for. Now of course that number changes with the unearthening of more damaging info and documents. An insider who watched it all go down coming forward would just be another plus for the Susman team. As the writing starts to appear on the wall for JPM/FDIC we will see the PPS starting to surge and favorable PR's. JPM (Jamie) will always try and defend his bank "why does everyone always pick on my bank" and Sheila will always try and defend her actions " we did what was necessary" but we all know what transpired, we are well aware that Mrs. Bair gave into the advances of her "prom date" and we also know the prom date had been "courting her just for a piece of Arse!"
Now that the piece has been had, it is now time to take care of the offspring from said encounter.
JPM must complete the merger of WMI Inc into JPM. That my friends will be your PR. It will most likely be a cash returned to payoff creditors and preferreds and then a unrestricted stock swap (if the info is firm damaging) to keep NOL's intact. However, Jamie will have to give a Board seat to Bonderman. Because he will own a huge chunk of JPM. He bought up enough awhile back to garner a seat, with a WMI Inc buyout, he will defintiely be on it, just like he required it with WAMU.
JPM settled with Lehman Examiner right before Examiner's report was going to come out, JPM has to have a strong damaging reason to settle this, because right now as Justin said "30 Billion in 1st Q 2009" is enough reason to keep delaying until "hell freezes over or global warming starts to melt it"
LOL
~Fish~
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