Meeting on 7/12/2010.
I have been thinking about what happened since the hearing on 7/8/10 and many comments, thought and opinions. Susman is without any doubt IMHO in charge and will direct the meeting on Monday. I believe at least one of a couple of things could and will happen. I always like to look at ones actions to help see through this level of corruption.
Whatever it was that Susman revealed to the Judge, he made sure all important players were there so they could not say, I did not know or the dog ate it, thus cornering the Judge, JPM/FDIC and the rest. So now all players know that Susman has at least one “smoking gun” and I suspect more just as I suspect more than one “Deep Throat” as well.
The facts Susman will want Rosen to show on Monday that equity is in the money and if Rosen refuses, it will be the death of him. Rosen is truly cornered now, because if Rosen admits equity is in the money, he is immediately guilty of bankruptcy fraud, which could have him immediately arrested. Rosen could evade the fraud charge if his corrupt buddies would say here is another five billion or so to give commons a dollar and Rosen could show this money came from them to curtail litigation, but if the FDIC objects then he is toast. The problem with this is the one billion or so of the naked/short shares that are out there.
Since he will admit to nothing, the next thing that Susman could demand is Rosen immediately resign from the case throwing JPM/FDIC/BOD and others into an immediate quandary due to Susman demanding to be in charge of the Estate, thus expediting a true settlement. In my summation for Monday, a few items could/will happen and I would like to know what other WaMu true longs thoughts are.
1. Rosen agrees to equity “in the money”…would require others help.
2. Rosen agrees to resign from the case as Lead Counsel.
3. Rosen gives up most/all information, thus admitting I am guilty.
4. Settlement.
5. Delay-agree to meet quickly again before 7/20.
6. New real POR.
8. Agree to Examiner and Discovery.
9. Nothing tangible happens.