Yeh, I know she’s no better than the rest, but she will be our “best friend” in the weeks and months coming. I’ve posted several times in the last year she will walk away from this debacle, untouched, but for some bruises on her knee’s, gotten from hanging out with Jamie.
Jamie used her like Clinton used Monica…but surprisingly, Sheila is holding the Ace card and hell hath no fury like a woman scorned. No “if, and’s and but’s about it”, Jamie fabricated the numbers (obtained from the intended purchase of WMI/WMB) for Sheila to hound the OTS with and those numbers were as twisted as the info he gave his buddy at Santander to throw him off-track so Jamie could steal WMB, with the additional help of having all contender’s sign off on the (non Circumvent/non-disclose) taking top ten banks out of the picture.
Now all you needed to fuel this scam was a crooked WMI BOD controlled by Alvarez & Marsal (who would get a piece of the pie) and a sleazy lawyer like Rosen from Wile, Gotcha and Mangle and you have a well oiled machine and collusive group that can push a POR/DS through blindfolded.
The entire scam would have worked well, if it weren’t for an Insurance Company that held a few bonds and an army of pizzzed off shareholders and a UST that thought that there was “exigent circumstances”.
Here we are with an tenacious EC committee, a great lawyer (Sussman Godfrey) and possibly a UST and Examiner who also think the same thing,..so what’s left to settle this case?
Stage right, enter Sheila Bair, who in defense of her position is now willing to go toe to toe with that miscreant Jamie (although she didn’t think that when he was whispering niceties in her ear) and she has the anger, humiliation, goods and the verve to put it on the table without blinking an eye.
Yes folk’s, Sheila Bair is going to have Jamie Dimon on his knees looking directly into Bubba’s fly and she will whisper niceties in his ears as well,…fraud, misrepresentation to a Federal Agency…and that “Agreement Extension” was her reminder of what’s yet to come..
Jamie will fold, but somehow WMI even after the settlement will take on a life of its own. The Four Horseman of the Apocalypse” (JPM, Weil, A&M, WMI BOD) will still have to face the DOJ and Class action lawsuits without benefit of their )&D Insurance because of FRAUD !
Sleep on that Jamie, …Bubba’s all smiles, never had a banker before.