RD: I was alerted by drrugby that I needed to read this post and see what you posted. Ok I read it and everyone on this board seems to keep forgetting who we are dealing with here. JPM the Federal Governments bank that paid an Obama Admin shakedown of 9 Billion to Eric Holder, so he could then distribute the funds to their pet political action committes, not the actual people who were harmed by JPM actions.
When you are protected by the feds, you are in great shape. They have paid the ransom, now what's the reward? What did they get in return.
How about over 1 Trillion in value from the WAMU deal. You don't get to say you made over 1 Trillion if you did not get to keep the mortgage portfolio. They did the Al Capone way, they stole the bank, its deposits, atms, etc...then bitched and moaned to the judge hiding behind high-priced attorneys, an FDIC who does not want to reimburse "vulture investors" and protection of the federal treasury. That is the ole fashioned way hatched by their founder in terms of railroads and then banking. So, Jamie Dimon was never worried, because he knew he could pay the fines with WAMU shareholders money and assets. Yep you were all robbed and you still think money is going to magically appear out of Jamie Dimons pockets and he out of the goodness of his heart is going to give us enough to satisfy the preferred class. Nope!
Now what is the reality. Liquidating WMILT will most likely yield about 10-20 cents on the dollar. I am that camp, because Judge Walrath made sure we were thrown a bone. Not the big one a saint bernard runs around with it hanging out of his mouth. She threw us a bone like the one a small collie would chew on. This was one half.
It was a good bone 3 years ago, before the inept crooks on the BOD of WMIH choose inaction over action and that is why you sit at .70pps in jeopardy of losing NASDAQ listing, refunding of preferred share funds which will put this company back in Walraths court. You could currently have price point share issuance dilution occuring to account for the insiders knowing new shares are going to be issued for a QA.
That's the second half of the bone.
In reality you can study this all you want, push hyperbole till the cows come home, but you never know anything with these people until they file an SEC report.
That's my take.
I do not expect anything to happen until near end 1Q 18. These guys do not want any of you to profit from these deals, that is very obvious and has been since Rosen announced the settlement in BK court and stock tanked 15 minutes before. We would have all been wiped out if it was not for Nate presenting his evidence to THJMW who started a crusade to save our asses.
She did, but what did you get?
Time will tell.
Take Care
~Fish~
P.S. Have any of you learned your lesson yet? I have!
NEW BLUE 2016 CAMARO
JUST IN TIME UZ!
