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ONE DAY !!!!!!!!!!!!!!!!! I just hope we are all still alive
.....Sergio P. Ermotti should be STRESSING over this POS.......not US - US fairies..........................
....UBS should get slammed with a $10-billion punitive damages judgement FOR ALL OF LIBOR and get EXPELLED FROM THE USA (UBS is a foreign national and will not do well in an inner-city federal district court........especially when a jury sees that UBS viciously abused poor, underprivileged cute schoolchildren......outrageous behavior and blatant ANTITRUST VIOLATIONS for hundreds of $$billions)......
............so pay the f**k up, SERGIO.............asap........and then prepare to sell your vast investment banking operation, in ameriKKKa.........the competition, in the USA will be very happy to be rid of UBS as a competitor....................GOODBYE, SERGIO and F**K YOU...................wire the $10-billies within the next 15 days, or sooner..................
........tingle, tootle.............aimho.......................
4/2/2024 Notice of Termination of Receiverships
A Notice by the Federal Deposit Insurance Corporation on 04/08/2024
Federal Deposit Insurance Corporation
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as of 04/06/2024 at 10:15 pm EDT
Published Document
This document has been published in the Federal Register. Use the PDF linked in the document sidebar for the official electronic format.
The Federal Deposit Insurance Corporation (FDIC or Receiver), as Receiver for each of the following insured depository institutions, was charged with the duty of winding up the affairs of the former institutions and liquidating all related assets. The Receiver has fulfilled its obligations and made all dividend distributions required by law.
Notice of Termination of Receiverships
Fund Receivership name City State Termination date
10029 Bank of Clark County Vancouver WA 04/01/2024
10048 Omni National Bank Atlanta GA 04/01/2024
10538 Almena State Bank Almena KS 04/01/2024
The Receiver has further irrevocably authorized and appointed FDIC-Corporate as its attorney-in-fact to execute and file any and all documents that may be required to be executed by the Receiver which FDIC-Corporate, in its sole discretion, deems necessary, including but not limited to releases, discharges, satisfactions, endorsements, assignments, and deeds. Effective on the termination dates listed above, the Receiverships have been terminated, the Receiver has been discharged, and the Receiverships have ceased to exist as legal entities.
(Authority: 12 U.S.C. 1819)
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on April 3, 2024.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2024-07371 Filed 4-5-24; 8:45 am]
BILLING CODE 6714-01-P
https://www.federalregister.gov/documents/2024/04/08/2024-07371/notice-of-termination-of-receiverships
Dude: UBS COULD CAVE IN AT ANY MOMENT.....................and throw money at this sonterra problem.......................
I don't G/A/D........................CLICK..........CLICK...........and I net over $100-MILLION.....................CLICK CLICK................
UBS could fight the case all the way back to the SCOTUS and win or lose.................who cares........????.............
I would not want the FDIC suing me for a proven ANTITRUST CRIME.........that's about as BAD as it gets, imo.......UBS has no chance, none.....aimho......
.
"most knowledgeable" dork, re: this UWBI POS..........and I ain't gotta f**king clue as to how, or when the nightmare ends, if if ever ends.............................
HOW--------------------MOTHER----------------F**KING-------------------EVER.........................we have some funds safely in the bank earning interest from the sale of the holdco entity........????........deposit receipt indicated $138.6mm...........??...........but there appears to have been about $6mm, in the account already........call it $144mm with interest accruing now at 5.35%.......tingle...............
further, we are waiting, per DIRECTIVES from the FDIC, on a dividend, from the failed bank receiver.................if applicable???........meaning, if the Receiver has a positive cash balance, dividends will be paid out, to "proven creditors".................we estimate $186mm, but the recoveries log only has about $116mm+......but there is no entry for RBS, which was about $60mm (lot of creepy #6's with this evil case??).....................
super wild card with the sonterra v barclays suit on LIBOR/sterling, that the FDIC has taken control of, as plaintiff lead counsel, although we have two outside law firms representing plaintiff.........................recoveries from sonterra range from 0$ to $600mm (our 12.9%)................on a loop-hole plaintiff is seeking PUNITIVE DAMAGES FOR ALL OF LIBOR.........................ALL OF LIBOR................cross appeals are pending, but the outcome on this will probably be HUGE, imo....(lone defendant has a cash hoard of $414-BILLION and is facing an ANTITRUST action by the USA government) ..
whatever............let the rats scurry around the bottom of the dumpster........more time = more money........give them the middle finger larry and the opinion waiver...........and thank the fairies for my daily $1,500 accrual on the frankie fecal matter..............
For years, I used to always feel a minimum of four to six bucks a share would return if any did at all so about one year ago, I changed so now I am between eight and twelve a share if any returns period.
Summer to late Fall for monies into accounts would be my guess.
…
Is this good for us?? I mean obviously I would LOVE a settlement as soon as possible. But I mean, do you think we'll get a decent settlement for shares if it happens soon?? I hear so many estimates??
....IF sonterra gets traction.......CLICK....CLICK............$100-million, net.........tyvm.......................
....reality is probably BOXCARS/hansel & gretal/12, per..........6 from frankie's AH plus 6 from the fascist clawback............fall of 2024.......
.....our BIG PAYDAY can only come from UBS caving in on the final LIBOR punitive damages settlement......might be no case, no settlement or a small one....
.....no worries and no hurries.....just leave my daily $1,500 cash envelope in the packages box at my front gate and then get the f**k out of my hood........
...............aimho..............and............GO ORIOLES.....................
LIBOR8 SETTLEMENT LOOMING???
Thanks goes to BP Poster, Hold.
——————————————-
After the Judge ultimatum response many of OTC plaintiffs dropped their claims at the end of fact discovery deadline, I guess they were hoping Judge would approve their request. They should have hired additional attorneys if they really wanted to continue this legal battle, imo.
4003 04/04/2024 STIPULATION OF VOLUNTARY DISMISSAL It is hereby stipulated and agreed by and between the parties and/or their respective counsel(s) that the above-captioned action is voluntarily dismissed, with prejudice against the defendant(s) Citibank NA, Citigroup Inc, Citibank, N.A. and without costs pursuant to Rule 41(a)(1)(A)(ii) of the Federal Rules of Civil Procedure. Document filed by California Public Plaintiffs, City Of Houston, City of Richmond, City of Riverside, County of Mendocino, County of Sacramento, County of San Diego, County of San Mateo, County of Sonoma, East Bay Municipal Utility District, San Diego Association of Governments, San Mateo Couty Joint Powers Financing Authority, Successor Agency to the Richmond Community Redevelopment Agency, David Sundstrom, The Regents of the University of California, The Richmond Joint Powers Financing Authority, The Riverside Public Financing Authority. Proposed document to be reviewed and processed by Clerk's Office staff (No action required by chambers).Filed In Associated Cases: 1:11-md-02262-NRB et al.
Now with everything said and done, an imminent settlement agreement will likely be formed any day.
…
FRED
""" ASSET CLASSES are all going to DROP, and have been dropping............and we are saving ourselves from ourselves, by waiting..............."""
Guess what EINSTEIN ..
Land aint dropping and that is what I want to buy, screw the markets, I have 3 hopefuls in the markets IF IF IFIN THEY HIT , POOF I AM GHONDI
WEAK MY ASS told ya they needed to bring suit YRS AGO and your answer WAS THAT CAN'T BE DONE !!!!!!!!
Now ya want to tell us all IT CAN BE DONE, sometime I wonder if ya even have a mind to make up
MAKE UP YOUR MID FREDDIE
......bobbie, there you go again with the weak, panic mentality.............point one: each passing day INCREASES our ultimate payout.......and point two: ASSET CLASSES are all going to DROP, and have been dropping............and we are saving ourselves from ourselves, by waiting.................
....Chateau Lafite Rothschild - - esque mindset, bobbie.............trust me on this...............
....and the more commotion and uncertainty with the FED, and interest rates and the economy and donnie keeping everything stirred up........THE BETTER..........
.........BIG BOY HARDBALL, hereon, BOBBIE..............if ya ain't got the gannolies, please stay on ETSY with the fairies......................
.
Now all we NEED FRED IS THE DRY POWDER
THE FED SHOULD RAISE RATES....3 more times in 2024 = 10% PRIME RATE.....................
the government grunts are paranoid that donnie's getting back in the crows nest.......usa economy is broken and core inflation is 14.9%...........
unemployment is low because nobody with a brain works anymore.....traditional jobs are all a dead end................
china is collapsing and the usa is in a stagflation, no-growth state that's gonna last for many years..........probably 12-20......
no worries........let the big OGRE corpse die and rot...........keep a big pile of dry powder cash.....then await the wounded zebras......gonna be many, hobbling....smart money will capitalize on the weak.....
.
Dude: I don't GAD what happens with this POS....seriously......I'm accruing $1,500 every time the blue water planet ball turns.........every day..........100% proof......
so play with your sonterra cartoon, YANK FRANK, troll pornhub, do whatever..................no worries and no hurries....................
ya got a proven criminal by the balls who is facing an antitrust CONVICTION and possible EXPULSION from ameriKKKa..............and this same DWEEB has $414-billion in his change purse...........................hello....................
tingle, tootle..........aimho..........................("YANK FRANK"........I like that one, larry..........YANK FRANK.....definitely wanna B/H/A, someday)......................
....I believe the attached is our sonterra core case............this is the premise case..........and my purpose is to show the PLAINTIFF CLASS...........we are sonterra and I believe those "Frontpoint" dudes settled out???....or one did.............and my count is 5...FIVE members of the Plaintiff class survive.......
...further, the FDIC has taken a lead role, as counsel, for sonterra???..................and perhaps active or lead counsel................???.....THE FDIC IS IN CHARGE, imo and calling all the shots....
....whatever.............we need the decisons on the cross appeals, which are due at any moment....................then the fun begins............note also that there are numerous technical/legal claims, and contentions made in the appeal.....................appeals.......????...........
.....mysteries.............WIN WIN..........regardless of how this plays out.......................LET YOUR WINNINGS RUN = GAMBLER's LAW..................
https://www.mintz.com/sites/default/files/viewpoints/orig/19/2018/02/Complaint-Sullivan-v.-Barclays.pdf
..
Tuesday, April 02, 2024
4000 motion Conference Tue 04/02 1:37 PM
LETTER MOTION for Conference to request approval from the Court to take a limited number of depositions following the close of fact discovery on April 4, 2024 addressed to Judge Naomi Reice Buchwald from James R. Martin and William Christopher Carmody dated 4/2/2024. Document filed by FDIC, as receiver, Federal Deposit Insurance, The Federal Deposit Insurance Corporation as Receiver, The Federal Home Loan Mortgage Corporation..(Martin, James)
https://www.pacermonitor.com/public/case/684995/In_Re_LiborBased_
.....worst case is sonterra crashes, their appeal is reversed..........GAME OVER.........UWB RECEIVER TERMINATES..........
...........ARMAGEDDON = really good news............we might get clipped on the payouts.....$4.75 per....plus $3.50 per.......+/-.....
....probable end-game, but who cares.....NIGHTMARE MIGHT BE OVER........soon.....????...
...or sonterra drags on and on and on.......BUT leads to a MONSTER UBS SETTLEMENT....and $20 per on LIBOR alone....dat be the $31.50 per, blue plate special on the menu (my choice).....
.....<yawn>...........<yawn>...........wake me from my nap when its over, larry..........early cocktails on that day.....(well, every day, WTF??).......aimho.....
STOCK MARKET CRASHES......and frankie's lemonade stand goes up.....$1,607.63....+0.76.....(+0.05%)....??.....
FDIC must be covering up for frank holding............??? .....he did steal that denver thrift and got away with it....??? (his mother bailed him out??)....
anyhoot..........F**K frankie.........now he's name dropping the USA 2nd gentleman???...........DC something.......limp-wristed???......
hope - hope holding the UWBI sewer rats get the 1% per, or better of the frankie fudge factor........or we call larry.........???.......aimho.....
.......no worries........none...........when ya got an arrogant, ambitious flat-head..........BY THE BALLS...........with an ANTITRUST suit stuffed into his double-chin........and this same dork has $414-BILLION piled in the back of his euro-ped PT CRUISER ......................just sayin'...................
..... Sergio P. Ermotti..................has a problem, houston........(insert baltimore, here).........EXPULSION FROM THE USA, sergio......????.......would not be a good look...................ANTITRUST, sergio.............worst crime possible in ameriKKKa.............OUTRAGEOUS DAMAGE TO UNDERPRIVILEGED POOR SCHOOLCHILDREN...........egregious and horrific criminal behavior..............GET OUT OF AMERIKKKA, sergio.......................
............toss out a number, sergio..............do it now.........15...........???.........10..........???...........
...........we got this.........let's torture this sergio AH, for a while....................aimho..................
many thanks, NDT.......UBS has huge ambitions, but has gotta settle that little $10-billion ANTITRUST PROBLEM over in the US of A...................???.........
to wit, comes now.......definite complication in the US Appeals court/2 wherein the two sonterra cross appeals are probably getting ripped up........???......
problem, imo, is our appeal is gonna get reversed and the 15 perps are getting added back........THE ENEMY's appeal, on the entire case, MIGHT GET REVERSED OR REMANDED OR partially remanded.............?????..........if UBS wins, our appeal is moot, and the entire case is over.......might be some technical problems with our case, only because the LIBOR scandal was a conspiracy, imo and therefore the plan/path has to be clear and demonstrative.........
whatever, with UWBI, always gonna be weird issues and the final payout won't be made for 5 more years, 3 for the sonterra case and 2 years on appeals......
Swiss banking giant UBS to launch share buyback of up to $2 billion
PUBLISHED TUE, APR 2, 2024
Matt Clinch
KEY POINTS
“Our ambition is for share repurchases to exceed our pre-acquisition level by 2026,” it said.
The new program comes after the completion of the 2022 buyback, which saw 298.5 million of it shares purchased.
https://www.cnbc.com/2024/04/02/swiss-banking-giant-ubs-to-launch-share-buyback-of-up-to-2-billion.html
...when there is the slightest blip, down in the stock market................
....FCNCA/house of cards+++...........FCNCA........$1,606.11 -28.89 (-1.77%).........................
....we are waiting for a REAL CORRECTION...........total failure of frankie's FAKE BANK.............SEIZURE.......WIPEOUT........
.........karma will get this LOSER.............just a matter of time..........he shoulda kept his dirty hands off of the DENVER THRIFT......CRIME.....
....wanna BHA........and then lock him up for 10 years..............aimho..................
we knew vaguely that the FDIC, as Receiver for UWB had to collect the last 2 recoveries........."RBS and LIBOR"...........????.......
then this hit..............
https://sterlingliborsettlement.com/docs/14.pdf
lots of insights...................Deutsche Bank, with the court's endorsement......RATS OUT defendant class..............although DB could be added back, which is our appeal...........looks like UBS is toast.....................
.........no hurries and no worries..............WE SHOULD MOVE TO HAVE UBS EXPELLED FROM THE USA, if the antitrust convictions stick...........and we also "suggest" punitive damages of $10-billion............FIRM................PAY UP, sergio and then GET THE F**K OUT OF THE USA....................aimho...............
........................................$31.50 per...............today's MAGIC MATH........................
.....cred, but source has been known to experiment with marijuana.........................
....$5-billies on the LIBOR...............$nets 20 per to the purple polecats........$11.50 per in the dirty hole......
.....sergio ain't got much going on in the man region......took the FIN-billy prop.......to wit, comes now.....
....whatever, I'm still celebrating the insurrection/resurrection/erection......$31.50 per works for me.....geterdunn!!!!!!!.......
Happy Easter, Bban, amen to that!
HAPPY EASTER TO ALLLLLLLLLLLLLLLLLLLLLL HE IS RISEN
....the enemy, at present, is a thin-skinned, arrogant, swiss, flat-headed DWEEB.....................dunno what he thinks about ameriKKKa, but probably BAD THOUGHTS..............except that the USA is a money-making MACHINE for his rogue bank............
.....Sergio P. Ermotti........Group CEO & President of the Group Executive Board, UBS Group AG............$414-billion cash balance, unrestricted and in full compliance with BASEL III (that's the European fascist regulator capital requirement)............
....one minor PROBLEM on sergio's plate.....ok, MAJOR PROBLEM....................ANTITRUST SUIT for all of LIBOR......in the USA federal court............???......
....................$10-bills, sergio..............bounce it off of marty..........your authorship of the divorce decree..............do it now, sergio.........10 and done....aimho..........
........$60 PER..............................FCNCA BUYS UBS.........??.............
.....$10-BILLION JUDGEMENT AND USA EXPULSION SLAPPED ON UBS....??...
....and IF...IF.....this happens.....the FDIC/DOJ will force UBS to sell its USA assets to FRANK HOLDING (clad in a brown shirt)......
.....UBS' offices in ameriKKKa are wealth management boutiques that are a GOLDMINE business.......pure cash flow and no risk......
.............to the UWBI purple polecats...................$55 qualified dividend and $5-bill from the frankie fudge factory..............
.....GO ORIOLES and LONDON BRIDGES FALLING DOWN...........or BALTIMORE........who cares...??....just show us the money............aimho....
.....no worries on NUMEROLOGY.........nor per share payouts on the worthless cusips............
.....ya got $10.50 per, in the hole and, well, the USA government is suing a foreign national bank for ANTITRUST CRIMES with UWBI vermin named as a derived beneficiary...??.....further, this RADICAL CRIMINAL ENTERPRISE has $414-BILLION in idle cash and mints millions more every day........????.....
....the endgame is tied up in the federal appeals court, district 2 - which is also donnies!!!!!!!............definite problem of some sort in the appeals court with 2 cross appeals........????............full case review, which is a problem, BUT A GOOD PRROBLEM, imo, because the main case ain't getting reversed or remanded or clarified............................THE CASE IS GETTING DEEPER, or MORE COMPLICATED..........................
.....let the rats play in the bottom of the dumpster......I'm focused on that $414-billion.............UBS is being harassed by the USA thugs......GNATS......gonna take $10-bills, or $5-bills, or maybe $2-bills........to flick the FASCIST GNAT.........off of UBS' flat head.........
............no worries on dollar amounts, or clocks or calendars...........longer chase = BIGGER CATCH.................let's let it run for awhile.......aimho.....
Bbanbob, yes, $27 may be much closer to reality than most of us ever thought!
Hopefully, we soon find out something or some sort of confirmation
…
$27 has been saying that with his alias for years now
$27.00 per each piece of roadkill
...
____________________$414-BILLION________________________
.
....the cross appeals are BAFFLING....???.....something is definitely getting the full review.....dangerous, but probably GOOD FOR US.....???......
...the pundits are speculating that those perp banks are getting added back, or directing us to amend the original petition and basically recast the case...???......
....ALWAYS THE RISK THAT UBS WINS AND GETS THE sonterra/LIBOR STERLING case tossed out, on a legal loop-hole technicality......????.......
....whatever.......WE LOSE, WE CLOSE and take the $10.50 per........and WALK FREE.................WE WIN AND THE FULL LIBOR TRIAL IS ON..=....BIG MONEY....
....................WIN WIN.....................we are burnt out, totally, but whatever.............two mouse clicks from $100-million will do that.............aimho...........
....in fairness, I did get an earful from a UWBI shareholder, who doesn't care about the end-game.....colorado homies....
....these gents don't do details, but know the basics..........have some chunks of the roadkill....................
.....consensus high up in the altitude is a rather LOWBALL..............seven and some change, per.....OUCH!!!!!!............
.....clarity on frankie's dried turds, high four per............these boys don't like the fascists and said they will slam us with less than a barney frank $3-bill....???....per, when the circus tent folds....??.....
......whatever.............nobody is right or wrong, yet...............we are in agreement on the frankie fudge.......it's that rogue FDIC game-trap......????.......aimho.....
....SERGIO's gonna get UBS....EXPELLED FROM THE USA......GET OUT, NOW, SERGIO..............................
....PAY THE $10-billion in punitive damages for the horrific LIBOR CRIMES UBS COMMITTED, sergio......or GET THE F**K OUT of ameriKKKa......NOW.......
https://finance.yahoo.com/news/sergio-ermotti-came-rescue-ubs-121541348.html
..
...you are the WOKE expert, BALTIMORE BOB........but WE - WE - WE make the final decision on whether the sonterra/libor case goes to a trial...........at this point, BALT.............FULL STEAM AHEAD....(just like the key bridge tanker ship).............COMPLETE TRIAL AND NO PANIC, BIPOLAR-driven, weak-kneed SETTLEMENT.....
....point being, BALTIMORE BOB.......gotta get deep into the trial for the most money in a settlement........and UBS has tons and tons of idle cash.......we wanna see graphic pictures of the crumbling BALTIMORE schools and the cute little schoolchildren walking to the dilapidated school buildings.......and then we switch the video, in court, in front of the inner city jury, to the rich, white dudes wearing glistening jewelry, driving fancy cars.......pulling into mansions........
....when we have the BALTIMORE jury very ANGRY.....then we put up the damages calculations.....the billions of dollars these SCHEMING, EVIL, BANK DORKS....stole from the underprivileged schoolchildren................billions and billions in damages and UBS has the money to pay in PUNITIVE DAMAGES......
....LEARN HOW TO WIN, baltimore bob.................selling out cheap in an emotional settlement is only in the "best interest" of WEAK WIMPS.........and WOKE WEASELS...........aimho......
Turn right??? ....Uhhhhh ... probably a U-turn :)
FRED
"", sergio gives marty whatever dollar amount specified............100% certain of that..........."""
SEE how easy it is to see reality, just like I have said ALL ALONG, this never goes to court and will be settled no MATTER THE COST 15 or 50 bill, if they let it go to court and are found guilty, FDIC would really have no choice but to BOOT EM OUT OF THE US after an anti trust violation by a major bank
SIT BACK and WATCH, at least you finally WOKE UP
DOC
I went across it once in My LADY LIBERTY and it scared me shitless, and then my stupid audio driving thing told me to turn right in the middle of the bridge I SAID AHH FK YOU
....AS FOR THE STAR SPANGLED BANNER BRIDGE, the ravens in the SUOER BOWL, and the ORIOLES in the World Series, sweetcakes, darling..............we are playing BALTIMORE, like a fiddle..............great folks..........................in a beautiful city......................
.......we respectfully request that the finest people in BALTIMORE bring justice to those EVIL VILLAINS who ripped off the poor, underprivileged, BALTIMORE schoolchildren....CONSPIRED TO HURT and DAMAGE the struggling, innocent children of BALTIMORE......these white SAVAGES NEED TO PAY FOR WHAT THEY DID TO THE WHOLE WORLD........CRIMINALS hurting kids............
.....follow this logic, snowflake my dearest....??.........and then a SINGAPORE CARGO SHIP collapses the BALTIMORE bridge.......SINGAPORE, isn't that near Switzerland, or wherever..........................????.............more Europeans HURTING BALTIMORE..............
........$10-billies, honey buns........spare change to UBS........GO ORIOLES..........aimho...............
.........UBS/Sergio P. Ermotti has at least $414-BILLION in their coat pocket.................ANTITRUST convictions in ameriKKKa ain't gonna happen............at some point, sergio gives marty whatever dollar amount specified............100% certain of that...........
.....UBS/sergio have got to force the sonterra plaintiff to EARN THE PAYOUT..................make 'em put a case together, round up jurors..........play the USA media........................when money can solve a problem, and ya got the dollars.........ain't a problem.............$414-billion in idle cash..............and WE IZ GONNA GET AS MUCH AS POSSIBLE...........sergio could spill $10-billies today and not even notice..........and LIBOR/antritrust is gone and UBS EXPULSION FROM THE USA is no longer a threat..............................very cool...........aimho..................
Just for S&G, that was not the friendliest bridge to traverse. Some folks were deathly afraid to use it at all. I've gone across several times when I lived in that neck of the woods... an engineering marvel but ugh...
....halfway THERE, bobbie......but keep working this case, BALTIMORE BOB...a frivolous case gets traction, BALT, and lotsa billies is gonna get piled high on 17th St., 80202.........
...point being, BALT.........we fight to the end........no wimpy, panic SELLOUTs.................we got this, BALT............gotta work it, but the end is near, imo.......
............GO ORIOLES.............balt..................
......and sorry about the BALTIMORE BRIDGE, balt............but that disaster might put a couple more billies in our pile.......aimho..........
BRING IT ON 33 works for me AND FOR YOU DOESN'T IT
....FINAL PAYOUT MUST...MUST be greater than, or equal to.....frankie's fudge / 100.....per share........absolute requirement, or I call my lawyer........
.............FCNCA...........$1,615.25......... -1.63............. (-0.10%)...........$16.15 per, minimum................
....no worries.........TODAY's PAYOUT ESTIMATE is $33,50 per, with a very high probability.........
.....WINNING............................tingle, tootle..............aimho...............
.....jurors in the sonterra/LIBOR trial are gonna have a long DRIVE AROUND.......in BALTIMORE...........FSK bridge came tumbling down.........OMG...............
....the good KARMA for the plaintiff has already started............BAD KARMA for UBS and the add-back bank perps...........seated jury on sonterra is already ANGRY at foreign migrants abusing little people............might add a few billies on to that final PUNITIVE DAMAGES TAB...........(star-spangled banner playing in the background - - how cool???)...................
...............WINNING.........................watching that BALTIMORE bridge come tumbling down...................just as the sonterra/LIBOR trial date gets set................
.....gotta get my EASTER OUTFIT and a BIG BAG of THC edibles candies for my EASTER BASKET....................WINNING........GO ORIOLES.............aimho................
.
Nice, thanks, Frederick
....btw, if those 15 banks, involved with UBS on LIBOR/sterling ARE ADDED BACK TO THE SONTERA SUIT.............IF......IF...................
.......then that settlement RAT-OUT for $5-million by Deutsche Bank.........long approved by the court, without conditions.............F**KING GENIUS..........
....Deutsche Bank might have side-stepped BILLIONS, even on its %/portion of the ultimate sonterra judgement or settlement...........WTF...........
............HIGH STAKES, BIG BOY POKER, my fellow non-binary sand fleas.................billions getting flipped around and the UWBI SEWER RATS are sitting on the bottom on the dumpster.................READY TO FEAST..................$33.50 per.............$28.50 per, or which is a qualified dividend...............aimho.............
....................................TINGLE.............................perpetual......................BIGTIME..........................oh yea!!!!!!!!!!!!!.................
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UNITED WESTERN BANKCORP INC. (UWBK)
Shares Outstanding: 29.26
PR FROM FEBRUARY 2011 ANNOUNCING COMPLAINT AGAINST THE OTS (OFFICE OF THRIFT SUPERVISION):
DENVER--(BUSINESS WIRE)-- United Western Bancorp, Inc. (the "Company"), a Denver-based holding company whose principal subsidiary was formerly United Western Bank® (the "Bank), today announced that on February 18, 2011, the Company filed a Complaint in the United States District Court for the District of Columbia against the Office of Thrift Supervision (the "OTS"), the Acting Director of the OTS (the "Acting Director") and the Federal Deposit Insurance Corporation (the "FDIC").
On January 21, 2011, the Acting of the OTS, in cooperation with the FDIC, seized the Bank and appointed the FDIC receiver based on three alleged grounds: (i) the Bank was undercapitalized and failed to submit an acceptable capital restoration plan ("CRP") within the time prescribed by statute; (ii) the Bank was likely to be unable to pay its obligations or meet its depositors' demands in the normal course of business; and, (iii) the Bank was in an unsafe or unsound condition to transact business. The Company alleges in the Complaint that none of these grounds existed at the time of the seizure.
A. Gibson, Chairman of the Board of the Company said, "The seizure order issued on January 21, 2011 by the OTS, appointing the FDIC as receiver, is arbitrary and capricious and lacked any rational basis in applicable law."
The Company's Complaint refutes the allegations made by the FDIC and the OTS, and importantly, among other facts cites:
The Acting Director of the OTS, without any reasonable basis, concluded the Bank had failed to submit a CRP acceptable to the OTS. However, despite the statutory requirement that institutions be given a reasonable time to submit a CRP, the OTS demanded that the Bank submit a CRP within seven days, a clearly unreasonable request in excess of its statutory authority.
The Bank's capital position provided no basis to accelerate the standard 45 day time frame for filing a CRP. On December 3, 2010, the OTS directed the Bank to take a capital write-down with the intent of lowering the Bank's capital ratio as much as necessary in order to create the illusion that the Bank was not adequately capitalized. The result of this arbitrary and capricious directive was to lower the Bank's total risk-based capital ratio to 7.8 percent (which is only 0.2 percent below the 8.0 percent ratio required to be considered adequately capitalized). But for the OTS's arbitrary and capricious directive, the Bank would have remained within the technical definition of adequately capitalized and not been subject to the requirement that it submit a CRP.
The Company believes that the seizure of a Bank with a reported total risk-based capital ratio of 7.8 percent and a pending recapitalization is unprecedented. If the standard applied by the OTS to United Western Bank was uniformly applied to banks across the country, a significant number of those banks would be subject to immediate seizure. The majority of the institutions closed by the OTS in 2009 and 2010 were critically undercapitalized, meaning that the ratio of tangible equity to total assets was less than 2 percent. A number of these institutions were insolvent; for example, one of these institutions had a core capital ratio of negative 7.11 percent and a total risk-based capital ratio of negative 7.36 percent.
The Company's research suggests the OTS has not accepted any CRP submitted to it during this financial crisis. Instead, the OTS appears to reject CRPs as a matter of course, regardless of merit, and then asserts that the failure to submit an acceptable CRP is grounds for receivership. The rejection of the Bank's CRP was part of this unreasonable pattern by the OTS.
No grounds existed for the Acting Director to reasonably conclude that United Western was likely to be unable to pay its obligations or meet its depositors' demands in the normal course of business. The liquidity concerns asserted by the OTS and FDIC were based on their unfounded disapproval of the Bank's 17 year-old business model and a fundamental misunderstanding of the Bank's long-term, contractual relationships with certain of its institutional depositors. There was no rational basis for the OTS or FDIC to conclude that the Bank would not continue to effectively manage its institutional depositor relationships as the Bank had for almost two decades, including through the worst of the financial crisis in 2008 and going forward. The institutional depositors would have maintained funds on deposit absent an arbitrary or capricious action by the OTS or FDIC to force withdrawal of such funds. The Bank repeatedly, most recently as of January 20, 2011, advised the OTS that this was the case. The Bank had ample liquidity to pay its obligations and meet depositor demands.
The Bank had over $400 million of cash at the time of the seizure, which represented approximately 25% of total deposits on January 21, 2011.
The Company and the Bank were very close to completing a recapitalization transaction of $200 million, with commitments in place of $149.5 million and parties identified to complete the transaction at the time of the seizure of the Bank by the FDIC. The completion of this transaction would have eliminated the need to seize the Bank, thereby avoiding a significant loss to the Deposit Insurance Fund. This information was provided to the OTS on January 20, 2011.
The Company is represented in this law suit by its internal counsel and certain inside directors of the Company and certain former inside directors of the Bank are represented by BuckleySandler, LLP of Washington, D.C. and certain independent directors of the Company and certain former independent directors of the Bank are represented by the Washington office of Paul, Hastings, Janofsky &Walker LLP.
I am not sure you understand, don't confuse the moneys that belong to the Bank (the ITR and JPM moneys due) even if the Government did not take the Bank, those moneys are the banks.
The government is liable because they took the Bank, our asset, our constitutional rights, under color of law and tired to defraud all of the shareholders as well as the employees the credititors and others. took assets held in the Banks Name and deprived all of us including the community. They Tarnished the management and the Banks Business reputation. I ask you what is it worth? An Unconstitutional move by government thugs.
And now they don't want us or any body to talk about the cover up
Jim Peoples, former CEO, left, and Guy Gibson, former chairman, are challenging bank's takeover.
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