Jpm

[wescobrk]

So the government asks Jpm to buy bear and wamu and then they turn around and sue them.

There is an 11 billion number in the news to settle.

We are almost 6 years and still litigating.

Anyone have an idea how much longer this can last?

[Kraven]

So the government asks Jpm to buy bear and wamu and then they turn around and sue them.

There is an 11 billion number in the news to settle.

We are almost 6 years and still litigating.

Anyone have an idea how much longer this can last?

 

No clue.  But for point of reference, there is still Exxon Valdez litigation going on.  That incident was I believe in 1989.  There is still asbestos litigation and that has been going on for 30-40 years.  I'm not saying this has anything to do with those things or even that it's similar.  But litigation can sometimes go on endlessly if the parties want it too (i.e. can't reach any kind of agreement).

[A_Hamilton]

So the government asks Jpm to buy bear and wamu and then they turn around and sue them.

There is an 11 billion number in the news to settle.

We are almost 6 years and still litigating.

Anyone have an idea how much longer this can last?

 

No clue.  But for point of reference, there is still Exxon Valdez litigation going on.  That incident was I believe in 1989.  There is still asbestos litigation and that has been going on for 30-40 years.  I'm not saying this has anything to do with those things or even that it's similar.  But litigation can sometimes go on endlessly if the parties want it too (i.e. can't reach any kind of agreement).

 

I know this is all too late and maybe they didn't foresee the risk, but why wouldn't your agreement with the Fed (BSC) and FDIC (WaMU) specifically state that those entities were responsible for any successor liability. Huge oversight.

[onyx1]

So the government asks Jpm to buy bear and wamu and then they turn around and sue them.

There is an 11 billion number in the news to settle.

We are almost 6 years and still litigating.

Anyone have an idea how much longer this can last?

 

There is an old saying that being sued by the government is like dancing with an 800-pound gorilla.  The dancing stops only when when the gorilla decides to sit down!

[cayale]

So the government asks Jpm to buy bear and wamu and then they turn around and sue them.

There is an 11 billion number in the news to settle.

We are almost 6 years and still litigating.

Anyone have an idea how much longer this can last?

 

No clue.  But for point of reference, there is still Exxon Valdez litigation going on.  That incident was I believe in 1989.  There is still asbestos litigation and that has been going on for 30-40 years.  I'm not saying this has anything to do with those things or even that it's similar.  But litigation can sometimes go on endlessly if the parties want it too (i.e. can't reach any kind of agreement).

 

I know this is all too late and maybe they didn't foresee the risk, but why wouldn't your agreement with the Fed (BSC) and FDIC (WaMU) specifically state that those entities were responsible for any successor liability. Huge oversight.

 

Ha!  It will next time!

[mranski]

Must have asked for liability exemption and not been able to get it, surely.