Though I want much more than $4, I totally agree with you on this.
Maybe they have offered $4 and SS has said no way. Maybe as fsshon theorized the deal is inked and final details are subject to the examiner report/valuation.
Still, if I was the FDIC or JPMC, and if I was in with certain market makers, even if a deal was inked, I might be inclined to let this run up to an enticing amount and buy the shares sold. At this point, shaking the tree won't move me. Chances are I would only sell enough to cover my investment, but I suspect many more might get out.
$30BB was thrown out by Nelson for a reason I believe. That might put the price for settlement around $8 for commons. There is enough wrongdoing to warrant damages IMO on top of this. What if they ran it up to $5?
On the other hand this is WAMU-gate. More and more eyes are on to the FDIC and JPMC and the DIP. I wouldn't be surprised to find this involves higher levels than originally thought. The price of poker has gone way up IMO. It might be too late to sweep this under the rug with a less than fair value settlement, especially if they want indemnity.
AIMO.
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