Jberg, Lays it out really well. More info provided in His objection than we (EC) have learned about in our past readings.
The rabbit has been pulled out of the hat.
FDIC, JPM has now been put on warning that WMI (Common and Preferred) shareholders and the TPS shareholders now know the 1/2 of the real story.
The story is now 1/2 told.
Now.. The other 1/2.. JPM was near BK and to save the FDIC insurance fund from collapse the Treasury directed the OTS to take WAMU into receivership for JPM.
Gifting 45.5b$ of assets minus liabilities to JPM so it would stay afloat.
Then, While in WMI was in BK.. JPM organized the plan to kill equity and try and try and gift its hedge fund insider buddies 1/4 the payout.
Let's pray that THJMW reads Jbergs objection and directs the EC to persue motions and receives guidance to clean house and get this BK moving in a fast and stready course to reorganizing as a healthly company free of fraud.
While cleaning up the big big big mess.. I pray that those whom orchestrated the fraud find themselves in jump suits that matching colors orange/white strips and pink shoes.
Bernie needs a roomy.
GLTA..
GO SG EC..
DrR..
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