Weil was going to settle and let JPM and the fdic off the hook completely. with the ec, if they stay tough weils end game was fcked up by the ec. that is why rosen keeps the whine going.
i have said this way before the rosen whine in dec at the omnibus, 1 of 2 scenarios was in play without the ec.
1. noteholders get paid in full, p's get 20cents on the dollar and commons get canceled. that is the standard play.
or
2. as part of the reorg plan, A stays less then L and rosen pleads the reorg based on this situation and then throws in that weil will keep the lawsuits going with new stock offered to the note holders, with equity canceled, then weil goes stealth and they settle with jpm and fdic and the note holders make a killing. no one cares because the public won't know a thing.
the ec fkd up both possibilities, now rosen has to divulge all aspects of any settlement to the ec, not only that, the ec can object in court based on evidence that they will have. rosen now has to fight for everything they want, this will get very adversarial between rosen and the ec. you see how rosen whines like a baby now that he is not getting his way.
the first test is coming up shortly for the ec attorneys to see what balz they have regarding defending their existence. they should write the best hard hitting doc that they can come up with, the should shoot down rosen/weil hard, no soft shoe should be used. they should make rosen look like an idiot the same way rosen makes jpm look like an idiot in court.
for example, putting in one of the reasons to disband the ec is because of share price. i would fking crucify rosen in front of the judge for that and the other stupid rationale. if they write a strong doc, we know we are in good hands, if they puzz out, watch out.
joyce, are you listening, lol, that women accomplished something that is unheard of by getting this ec established. i am so glad they are mostly retail share holders where principle will come before sell out to big money. all imo
