Re: JPM pagará $13 Billones al DOJ y no se librará de posibles denuncias por via criminal (RICO)
Estos son datos que inclinan mi balanza hacia una resolución más tarde o más temprano.
Lo que nadie penso que ocurriría respecto a los intocables pues vemos que está sucediendo. Tenemos tiempo hasta septiembre 2014 para que FDIC y JPM nos paguen.
- Most people don't expect or believe there will be a settlement with JPM.
- That’s because WMI LT don’t have a pending claim against them, and because JPM are released by us. So JPM cannot settle something directly with WaMu.
- BUT FDIC is held ultimately responsible and ACCOUNTABLE for transferring WaMu’s assets
- So FDIC are responsible for the FACT that JPM gambled with the money WE gifted to them
- 30th of September there was news regarding troubling settlement talks between FDIC and JPM about WaMu-related MBS. JPM was blaming FDIC, and FDIC blaming JPM. So they were debating who was guilty regarding the WaMu and BS MBS. First time WaMu is mentioned in the context of JPM settling with US Gov/FDIC,/DOJ
- After this news, it comes out JPM’s litigation reserves for Q4 of 2013 were upped to 28.5 billion, a number not foreseen by JPM’s own CFO!
- Then all of the sudden it’s Jamie Dimon crying in the press about criminal charges and whatnot, and this last week the Libor manipulation becomes point of focus regarding JPM related bad press.
- My interpretation they (the media) want to address the obligation FDIC had to transfer valuable assets (from WaMu) to a capable replacement (supposedly JPM). FDIC has failed to do so, because JPM did bad with their received money.
- FDIC still have the possibility to settle indemnification claims with JPM (till September 2014) which gets distributed to equity.
Because ultimately FDIC is responsible for the mess JPM created with gifted assets (WaMu’s), they HAVE to settle with JPM for indemnification!! The credibility of the FDIC is at stake here (FDIC strictly being a private company!! But carrying a lot of public responsibility)
- Sidenote: WMI LT gave GS almost a YEAR extension. WHY?
- Also think it’s a strategic decision NOT to tie the JPM settling with anything that has to do with WaMu in the public sphere. My belief it would be devastating if the public would find out that these billions in settlement money paid from JPM to “the Government” would flow to the pockets of former Wamu-shareholders. THINK ABOUT THIS FOR A SECOND! The whole MBS and Libor-talk RIGHT NOW is just noise, lay off the focus of where the billions actually are going. Think about all the hush-hush about the escrow agents, what do we really know about it and WHY all the hush hush about it?