As much as many of you now want to breath easy that an ec is assured and are now confident that we are in such good hands that there is no reason to voice your opinion about rosen/weil is ridiculous and here's why.
1. some say weil will now play nice since the ec is a committee that needs to be taken in to consideration. WRONG, WRONG, WRONG, WHAT ROSEN THE WEASEL IS NOW THINKING IS HOW DO I DEAL WITH THIS FKING EC AND STILL GET WHAT I WANT. ROSEN HAS LOST A LOT OF CREDIBILITY WITH THE NOTE HOLDERS AND JPM AND THAT DOES NOT SERVE HIM OR WEIL WELL IN THE FUTURE UNLESS HE MAKES THE NOTE HOLDERS AND JPM HAPPY. i could go on and on why i know he has lost credibility but it will take to long for this post. you have to realize the ego of someone like rosen and he is pzzd. to trust him in any way shape or form is a big mistake.
to rely on the ec and venable to think through everything is a big mistake. it's back to the david vs goliath situation.
i agree, don't send letters to the judge except on rare occasion that something needs to be put in to the record. i can think of a few reasons.
we need to establish an efficient conduit to venabel and the ec. everything the ec sees from us should also be seen by venabel and visa versa. there is so much collective brain power on this and the ghost board we can be an amazing asset but it has to be efficient. don't assume venabel and the ec know it all now. they are not even close to being up to speed. i can pretty much guarantee that venabel has no clear idea of the motive of the theft and is even looking in to that. i doubt venabel has no idea how sp is being manipulated etc, etc. etc.
2. some of you have no idea what pressure this ec is now under and what outside sources are going to come in to play. you have common folks on this committee who are so emotionally tied to the situation that i doubt that at times they can think straight. that is both good and bad. again, i will not go in to detail why not being able to think straight could ever be considered good, but it can.
if i were the ec i would look at this as a chess tournament with rosen/weil the first opponent. to me checkmate in game one is getting rosen/weil removed, fired, demoted, canned, relieved from duty, call it what you like or IF THE NUMBERS ARE BLACK AND WHITE GET ROSEN OUT OF THE PICTURE BY MAKING THE NOTE HOLDERS WHOLE. that would be checkmate.
I WOULD NOT EVEN CONSIDER LIKE SOME HAVE SUGGESTED THAT ROSEN/WEIL FOCUS ON THE CLAIMS, FK THAT, THEY COULD STILL CAUSE PROBLEMS IN THAT CAPACITY.
the weasel and weil are in to deep to change their end game and jpm is pzzd that they were so close to getting out of this with out a scratch and the ec screwed that up. you are talking billions and billions and reputations on the line at the highest level of the private and government sectors.
i would not count on the ec reading these boards and gleaning what they need, what i think should happen is that we should agree on someone from this or the ghost board or a committee to contact venabel and set up a communication link.
i have traded 50ish bk companies in my day and have closely followed a dozen or so, of those dozen a few have come out of bk with the common truly intact. EVERYONE OF THEM WHERE COMMON WAS SALVAGED, IT WAS A WAR TO THE BITTER END WITH THE NOTEHOLDERS AND THE NOTE HOLDERS ATTORNEYS ALWAYS TRIED TO BULLCHIT THE EC, ALWAYS, THE PERFECT EXAMPLES ARE KMART AND CPNLQ. only 2x have i seen a situation where this was not the case and in both cases the bk was planned and the float was low because most shares were closely held.
all in my opinion and mine alone
