Some thoughts on THJMW and other "rantings"...
I'm a lurker on the WAMUQ board (just posting a few times very recently) but I've managed to read nearly all of the postings since I discovered this board a couple of years ago... (though a lot of them tend to be WAY over my head!)
I feel that many (most?) of the "regular posters" here will strongly disagree with some of my thoughts and opinions, but a few comments recently posted on the board pertaining to THJMW have laid "heavy on my heart" and I feel compelled to share my point of view.
I would just like to say that I do not see the world through "rose colored glasses" and have found my own life to be quite challenging at times. I completely respect the right of everyone here to voice his/her opinion and realize that it is an absolute necessity for us to hear all points of view on the issues and details of the matters relevent to this case (both good and bad).
If we have negative thoughts about some of the opinions or decisions that THJMW has made (or anything else pertaining to this case), it's necessary (in protecting our investment) to share those thoughts with the others here.
That being said, what HAS been bothering me are the posts that have implied that THJMW has been "bought", is a criminal, or should "go to jail". No one KNOWS that... ...at least not yet.
IMHO, that kind of negativity just breeds MORE of the same. With all due respect, (and I have a lot of respect for SO MANY of the posters on this board!) please (at least) consider saving those comments until after the "battle" is over, (and you are sure of it). For those who choose to stay committed to their investment here, please focus on the "known" bad guys instead.
I think that FSSHON (and some others) ARE ABSOLUTELY DOING THE RIGHT THING by keeping "an open mind" while interpreting the actions and opinions of THJMW; IMHO, she is trying to push all parties towards a compromise that will probably be very acceptable to some and (hopefully) somewhat acceptable to the rest.
I'm not going to pretend to know anything about stock trading as this is the first stock that I have ever purchased (I started purchasing WAMUQ on 10/09/08). But God has blessed me with a modest measure of common sense. I feel that at certain times in our lives, it can be important for us to put some real thought into trying to understand what the intentions of others may be (good OR bad), sometimes choosing to give them the benefit of the doubt.
IMHO, THJMW (through some of her rulings) HAS has made some real attempts to help insure that shareholders interests are protected. As everyone here knows, this is an incredibly complicated BK (in a perfect world, all here would be "black or white"), and I think THJMW has been (and will be) faced with some extremely difficult choices in this case, especially given the limited amount of information (to date) that has been provided to her.
Some of her rulings and opinions may not seem to follow what is normally expected to happen in a BK court, or the complete "letter of the law", but I believe that she is trying to do what she has determined is "best" to protect as many of the damaged parties as she can.
I think she is a patriot and HAS seriously taken into account that her rulings MAY cause further harm to our country and/or its economy. To me, THJMW doesn't seem nearly as concerned with being "popular" right now as someone else in her position might be... I don't think that she gives a "hoot" about JPM OR the FDIC's futures. I think her concern goes much beyond what might happen to them!
If I am correct (in interpeting her motives), I think she could possibly stand to lose much professionally (and personally) by some of the decisions she has chosen to make. I'm sure at times she has made some VERY important people VERY unhappy!
This "court battle" could have been over long ago if she had been "bought" by the big boys. We owe the fact that we're still here to a few of the decisions that the judge has made, and (most especially) to all of the DD, "proactive" efforts and time that many of the shareholders of WMI equity have provided to benefit all of us. (the Investor's Hub WAMUQ board most of all!) ...lol
I don't feel that she is trying to protect the FDIC, JPM/Chase, WMI, or the debtors(hedge fund companies). I'm sure that it's very clear to her that they are greedy and self-serving. I think we all know what JPM's motives were and as far as the FDIC is concerned, they were clueless, most likely criminally so... when they seized Washington Mutual Bank and then allowed the "looting" of WMI, WMfsb, etc. to proceed unchecked.
I am (personally) very disappointed primarily because no one has stepped forward to demand a serious investigation of the WAMU Bank seizure and perform a "true" accounting of WMI and ALL of their subsidiaries. ...not the the Department of Justice or any US government or government-associated agency... not any of our elected officials!
Had anyone done so, (I believe) it would have honored (at least what I perceive to be), the INTENTIONS of the great men who established this country. With an accurate accounting complete, all injured parties could be provided with just compensation for any personal and/or financial losses suffered... former shareholders (at the time of seizure), current shareholders and other WAMU investors, former WAMU employees, possibly even the original debtors who sold out (for pennies on the dollar).
My (personal) opinion is that most of the damages... (ideally... ALL of the damages!) that may be awarded in this case should come from JPM as they are the ones that appear to have benefited the most financially from this alleged "crime". I'm not trying to imply that contributions or damages paid by the FDIC would be wrong or unacceptable, but they would be much less acceptable (to me) because I feel that American taxpayers would eventually be responsible for "footing the bill" for any misdeeds.
OF COURSE, I'd really, REALLY love to see all of the FDIC and JPM executives (along with any other individuals who are guilty of helping to bring about the seizure) face job termination (in disgrace), and be indicted and prosecuted for any unlawful actions on their part. That's the only way to REALLY punish them!
ANY persons found to have played a part in the takeover (including elected and appointed government officials... of ALL branches of the government... including Judicial) should be held personally accountable and "pay" by being stripped of their positions, good name and be criminally charged... (even if their "crime" was "looking the other way"). ...NO MATTER WHAT POSITION THEY MAY HOLD in any company or institution, or in our government... or no matter how "far up" it goes!
Again, "in a perfect world" all parties WOULD be held accountable for their actions (or lack thereof), but it is very unlikely that some (if any) of them will be.
Currently, I don't think any of us are completely certain of ALL of the facts in this case, at least not yet (though I think we DO have a very good idea!). The criminally corrupt companies, institutions, law firms and individuals (some in my opinion are practically proven guilty already, just not in a court of law... yet!) will NEVER be able to "undo" all the harm they have done. They have caused many individuals and families terrible mental stress, possible physical illness, heartbreak and may have cost many of them their ability to provide themselves and their families with a decent future because of their retirement investment losses.
They have also greatly contributed to a sense of "hopelessness" by many of our citizens and undermined our confidence in our country's security and future (at least for the people who realize what's happening).
As an American citizen and a person who has always strived to live by "The Golden Rule", I would LOVE to see all those that are responsible for this "mess" accountable for their actions. I'm very confident though, that if they do not pay for their transgressions in this life, they will have to account for them in the next.
I apologize (in advance) for my "venting" and/or if my words or opinions offend any of the good people here. That is not my intention. I think that I've finally reached the point where I'm ready to "pop" and just needed to get my thoughts "out there"!
May God Bless Us All and Keep Us in His Care...
Michele
michele777
