She was weak, wasn't she? I had forgotten all about her, since it had been so long.
However, I look at this BK proceeding as very carefully orchestrated, and you don't bring out the big guns when the smaller ones will do.
US Trustee was there initially to make sure that JPM/FDIC/WMI knew what the stakes were.
Susman was there to remind them of our firepower.
At each court hearing we were on "Susman watch" although it now seems apparent to me, that was unnecessary. Nelson, et al, were good/excellent for the minor skirmishes and the individual battles. Susman has been planning for sometime, my guess is with a huge white board with the various "what ifs" and now his brilliance in executing strategy is becoming apparent.
As Diamond is fond of saying, the law is the law, and my guess is it was on that basis that Susman Godfrey took the case, much to the dismay of our opponents.
Baboo is good...his strength is more in parsing words and saying just enough. But, unlike most of his cases where the shareholders weren't represented, Susman has been a surprise to him, and so has Waltrath.
Does Baboo have another trick up his sleeve?? Very possibly, but his push for settlement this year tells me he knew there would be additional value they could use in 2011, and now that additional value becomes part of the estate...meaning we get paid.
AIMHO
Disclaimer...Possibly reading too many war strategy books :)
Ilene
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