Waiting
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PQ and UQ here. Both showing BUY/SELL panel. Similar escrow does not show this.
J
I agree!!!
Thanks Claww
On the OTS Fact Sheet: Under Recent Events:
Recent Events
"Receivership - With insufficient liquidity to meet its obligations, WMB was in an
unsafe and unsound condition to transact business. OTS placed WMB into
receivership on September 25, 2008. WMB was acquired today by JPMorgan Chase.
The change will have no impact on the bank’s depositors or other customers.
Business will proceed uninterrupted and bank branches will open on Friday morning
as usual."
https://fcic-static.law.stanford.edu/cdn_media/fcic-docs/2008-09-25%20OTS%20Fact%20Sheet%20on%20Washington%20Mutual%20Bank.pdf
...insufficient liquidity....
Liquidity
Project Fillmore...
Did the OTS Summary sheet say Insolvent or Illiquid?
B I G difference....
Jest
PS... there was another theory which suggested that the funds were being moved because WAMU was designated as a thrift. That designation had specific requirements (a max limit %) regarding how much cash was held as tier one.
That doesn't sound right. I was under the impression that JPM and H/F were all short. Estimates suggest there is 500%+ more PAPER silver sold (naked short to be clear) than is physically available. Regardless of the H/F position ... the NAKED sales of Silver or ANY equity is illegal! Of those guilty get ruined by this... then tah tah I say!!
Clearly you ARE interested.
LOL
Sup voo?
Jest
From IH Admin Shelly:
BOARD WARNING:
This board is to discuss COOP not:
*Politics
*Whether COVID is real
*Whether masks are needed/a limitation on civil liberties
*Debate about death rates
*Other Users
Next step is restrictions.
We are/I am here. Never been a lot of people anyhow. -j
Got it! Digesting now.
Thank you for your patience!
Jest
No no... to the shareholders via dividends.
...Real Estate Investment Trusts (REITs) must pay 90% of all profits...
Good to see you too uz! Hope all is well!
Jest
Yeah. Stealing our thunder!
I sense a lot of this is driven by the overall declining market sentiment.
People are legit worried about having positions. Money going to the sidelines again...
Jest
Ummm... welcome to the forum new person. LOL
Jest
I am in with a small position. More as I free up some powder. -Jest
This feels very bad.
??? WOW
Yep. I agree. Knew it as soon as I heard it. -Jest
YES! LOL
Probably talking about the OTS Fact Sheet which was formally issued at seizure.
https://www.google.com/url?sa=t&source=web&rct=j&url=https://fcic-static.law.stanford.edu/cdn_media/fcic-docs/2008-09-25%2520OTS%2520Fact%2520Sheet%2520on%2520Washington%2520Mutual%2520Bank.pdf&ved=2ahUKEwjNvYrsyNDpAhVMS6wKHZdrDTcQFjAAegQIBhAB&usg=AOvVaw36LITftdPc4-O36pteU-mB
Jest
I would like to see a steady push to just under $20 be before healthy consolidation. Then maybe moving beyond $20. Revenues won't show new US sales for months probably. Maybe start to see that in 3Q or 4Q reporting? This is such great news too for those who suffer with EPP. This good news will change their lives! I am happy for them!
My concern is that, IMO, the market is about to take a downturn as 2Q worldwide reporting (seeing results in 3Q) shows massive losses/lower revenue due to Covid-19 impact. Not sure of how that will impact the first portion. Impossible to know for sure how deep the impact will be.
Good luck to us ALL....
Jest
I find it interesting that GSEs are now a saviour of the current crisis... COOP and the GSEs must be working in tandem with the government to bridge this nightmare scenario for mortgages. Timing is very interesting.
Jest
Behind the scenes dealings.
Joe!! That is an interesting call! Nice!
Jest
That "break" from this was the best play of any here perhaps! Welcome back!
Jest
Yeah... he was the board archivist... and pretty awesome board member. Been a while since I've seen him.
Jest
Robert Johnson from Akin Gump, not Hochberg.
Jest.
All good BB!
I see McMahon as the predecessor to Nate Thoma in a way. Petitioning the court for the EC was a huge defining point for holders.
Jest
That wasn't Hochberg, it was McMahon, US Trustee, who informed the court there was a need for the Equity Committee due to "exigent circumstances". Possible that Hochberg also used it I suppose....
Does the US Trustee have to also formally close from their office? McMahon stepped in many years about the exigent circumstances of having an equity committee. Wonder if maybe there are "other" strings left untied.
Also, has anyone tried to contact Nate Thoma about his thought?
Jeat
LOL. Perhaps... depends on the bourbon I guess.
LOL Yeah... interesting observation! If this works out like most of us HOPE, I would like to buy Nate a bottle of a very fine Bourbon or other token.
Jest
Sho thing! Just wanted to use this to refocus on why we are here and to give many an opportunity to LISTEN to Nate, probably for the first time!
Have a great day and stay safe!
Jest