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DUDE: no clue as to what happens on any of UWBI.................HOW----mother------F**K-------ing-------EVER.............being the defendant in an ANTRUST SUIT put forth by the FDIC,as UBS is.................BAD BAD BAD BAD position to be in................the worst ever, imo.............because the FDIC is evil, formidable and is not moved by offering up BIG SUMS OF MONEY................
UBS settled in August with the DOJ on the mortgage-backed-securities cases..............a settlement with the UBS "no fault" language....and I believe the DOJ gave immunity for all of LIBOR, moving forward, as far as crriminality??..................
I believe we/sonterra can still get a DOJ "endorsement" on the civil case which usually states that the behavior is consistent with Antitrust violations.....but the case is long established, imo and we have a RAT-OUT co-defendant with the Deutsche Bank settlement............
LET IT PLAY OUT............no worries............WE HAVE A ROCK SOLID CASE IN A FRIENDLY VENUE, the hague letter is approved and launched, and the FDIC is angry..........oh yea!!!!...........and did I mention that UBS has $400-BILLION in idle cash and is trying to increase its presence in ameriKKKa...........SERGIO can write a check for $15-billies, TODAY....TODAY.....TODAY.........
................WINNING...................howz about that $75 per...........let's TEE IT UP....................aimho.........................
...re: UWBI payout and the wait for the sonterra case cross appeals at the USCA/2...............still nothing......definitely a problem or the court is doing a DEEP ANALYSIS of the sterling/LIBOR actions.................????.............
,,,,,NOTHING BAD CAN HAPPEN IF EITHER OR BOTH APPEALS GO AGAINST US/plaintiff..........so, geterdunn, but F/U to all involved...........
....probably a decision in a couple of weeks and then, the formal suit, remand, over-ride, dismissal, whatever.......????......onward.....???....
...my take is, the STERLING/libor factor is legit.....UBS, on this case, unlawfully manipulated the index and other banks were aware of the 'tactic' and did hedges or default swaps or pre-sale discounts or whatever...........BUT CAPITALIZED on the fraudulent act...............the laws are weird on this.......is it complicit fraud..??...and/or the case allegation here is ANTITRUST...??......so we are gray and gray and could get back to the SCOTUS on legal technicalities........
...and did UBS and the FDIC already arrive at a pre-packaged settlement, they just wanna see if the court forces back a couple of the participating banks....???....
.....no hurries and no worries.............DTCC TREASURY 5.358%......deposit interest rate...............paying out or accruing on the holdco monies......aimho....
AND TO ME ifin ya want to TALK ABOUT LEGITIMATE REPARATIONS to ANY PEOPLE at IT SHOULD BE TO them, ALL OF THESE FOLKS have some real serious ones coming for WRONGFUL IMPRISONMENT and I'm TALKING BIG BUCKSSSSSSSSSSSSSSSSSSSSSS LOTS OF EM, like a MILL OR TWO EACH.
Many lost wives and husbands over this their homes, their jobs, their businesses
THIS WAS TOTAL BULL SHIT from the get go
I do not doubt for one NANO SECOND that he pardons them all, AS HE SHOULD
And arrest and prosecute all the guards that have been beating these people
OH and those that put them there
....WE RESTORE THE CONFEDERACY.............January 20, 2025.....................................
....how F**K--ing cool is that...........????.............oh, okay, okay, you wanna know if we'll have our UWBI payout by then....???...
...possibly, but IF WE DO NOT.........this means the end-game monies will be HUGE-ER (to use a donnie-ism)............
....HUGE-ER.............let's do this................we'll probably be deep into the LIBOR trial with UBS flailing on the ropes for causing a $TRILLION in damages, when donnie takes the oath...(rumor is donnie is going to issue across the board pardons for any and all convictions connected to Jan. 6.........seconds after taking the oath - - HOW COOL IS THAT???)...................aimho..........
......total speculation but IF....IF......the FDIC informed the ESOP in 9/22, that the original UWBI shareholders, per ERISA, that they could expect a payment, from the FDIC....????...........of about $10 per share............in another year or so, from that point...........????................
.....but this $10 per, estimate, MIGHT NOT HAVE INCLUDED the holdco monies.........which the FDIC claims it does not know anything about????, for the record......$6.50 per???......????....
....my theory, is UBS is settling or settled or pre-settled sonterra...........pre-packaged DEFENSE CLASS resolution...........and all we are waiting on, are the cross appeals.........the UBS suit/action is the basic suit which will be upheld............but there is a problem at the appeals court with the defendant class members.......what UBS is doing, is settling on behalf of the class.................as the only class member..............and if like SOCIETIE GENERAL???? and ABN AMRO Bank, are added back.....they are settled, by UBS...........and if not added back...........DONE DEAL................the end...........
......HOW MUCH...................this is tricky................$1.125-billies.............too cheap, but might be the number...............and the FDIC may have derived the $10 per dividend, from the UBS discussions......(knowing we would net $5 per from LIBOR and we have $5 in recoveries to date)...................???...........
....whatever..........UP yours..........if settled and paid soon...........$16.50 per...........MY CHOICE AND CURRENT PROGNOSTICATION is full LIBOR suit and damages assessed at $15-billion......which is peanuts to UBS............$75 per, checks in the mail.....in a couple of years...........aimho......
........................GO ORIOLES...................................
with each passing day.......THE UWBI PAYOUT INCREASES.......exponentially........
so lets ride this "Château Lafite Rothschild" Bank and Trust for awhile....even another year is not a problem....it's a SOLUTION......
winning......no wimps nor weasels nor thin-skinned peewee herman wannabes......hereon................
we got donnie back in the crow's nest........next is the $75 per distribution on the world's best stock investment....EVER.........
SO CLICK CLICK CLICK the 75 per and I'll be YOU'LL BE, HAP HAP HAPPY
ROCK ON, bobbie..........but seriously, we have a great foundation set to TAKE UBS DOWN FOR ALL OF LIBOR...................and UBS is loaded.....loaded..........
WIN WIN, bobbie.............there are few opportunities in life to REALLY, REALLY cash in................and we fell into this sonterra case.......WTF....WTF.......
so, let's run with this case for awhile................build up leverage........and then maybe get lucky on a technicality......UBS wants to buy frankie........or Janet Yellen brokers a settlement.......or even DC EMHOFF gets sucked in...................sh*t happens in life.............be in a position to win...................however................
two mouse clicks, bobbie..................and $75 per................hits our accounts................UBS has $400-billion in idle cash and has been accused, in a U.S. federal court of law of violating SHERMAN, and CLAYTON antitrust laws and the commodities exchange law.........RICO....RICO.....RICO...............CLICK CLICK, bobbie......
I could live with any of those numbers FRED even $16.41 would work
I'm personally more into the blue blood Denver Country Club....lower key....old money...
But for power-brokering in Denver................CHCC...........heavy hitters............dudes party BIGTIME.......BIGTIME..............
$75 per, bobbie..............that's our OBJECTIVE.............$75 per, bobbie..........................
and if we get limp and sell out.............$40, or $50-per, will do........................
.
Never been a JOINER or a JONESERS anyway, hell if it rains at one of those places and folks are outside, THEY WILL DROWN since their collectives noses are so far up in the air
initiation fees = $135,000 and prospective members must have 3 sponsors, however membership is CLOSED, at this time.................
sorry, fairies................KEEP OUT.................NO ADMITTANCE.....................
.
Luke 23:34 "Then Jesus said, 'Father, forgive them; for they do not know what they're doing...'"......
compare the Cherry Hills CC membership roster with the last year's profile of senior managers and shareholders and influencers of United Western Bank.......
further, every bizarre rumor that came out of CHCC has turned out to be true and accurate........................
please wait and see the end-game on the UWBI POS, before passing judgement...............AMEN..........................
.
So, just another BS Post
Your love of the Orioles reminds me of a funny story going back 25+ years ago. I lived north of Baltimore city and worked south of it near the airport, and one of the routes you could take to work was going directly thru the city, of course. A co-worker and I were heading to work and passed near the stadiums one early morning, around 6:30 am. Driving along, thinking about what needed to be done that day, I passed a few folk out for an early morning jog. Nothing unusual about that...except for the one gent in shoes and a full length slip running past us as we sat at a red light. Ever have one of those moments where you just look at another person and both are at a loss for words?
my position is WE TAKE THE SONTERRA SUIT ALL THE WAY THROUGH THE BALTIMORE FEDERAL DISTRICT COURT............and get that jury to award damages....................ROCK SOLID........................no settlement............no resolution.........JURY VERDICT AND DAMAGES AWARD..............
we fought for two years, up to the SCOTUS, to get a favorable venue in which to launch sonterra............JUSTICE NEEDS TO BE SERVED.................
no wimps, hereon, please...........................no fairies...................no weak-kneed peewee herman wannabes..............KEEP OUT................
$15-billies on the sonterra settlement, which UBS can easily afford.........................$75 per to the uwbi cusip rodents..........ONLY CONCLUSION............
Rather a bold statement!!!!!!!!!!!!!!!!!!!! Can you show evidence?--or just another BS post????????????
.....the sonterra suit is baffling on many levels, LAR LAR DEAR............super complicated mess............dangerously BIG but the legal wires are all clustered up......
....UBS is on the hook, imo but is settling for the entire defendant class, which might not be a class, but might be........ETC...........
...bottom line, LAR LAR............keep those 8-balls lined up and within reach...................this monster mess will close really, really fast, when it does......
....even if the latest YAK YAK is off, the end is near and the dollar amount is getting clearer, and firmer, imo......$15-17, per is a lock.......go ORIOLES....aimho...
Hey Fred, you said the following:
_________________________
sonterra settled for $1.125B.....checks in the mail = $16.50.....
——————————————-
This sure seems like an odd-ball number. What happened to the two to five billion?
Sixteen works so end this travesty of justice TODAY!
…
sonterra settled for $1.125B.....checks in the mail = $16.50..................................????
banjo bob/blind squirrel/broken clock MONEY.........????.............$10 per is a "dividend"..............
math definitely works.......sonterra = $750mm after legal cut of 1/3......we get $150mm plus the $144mm in recoveries to date....spot on......
cherry hills cc 'closed cigar bar' (patio is ok for all smokable items???)....cranks out the scoop....
geterdunn..............within 45 days......????..................well within....???...............aimho.................
.
New York Community Bancorp, Inc. (NYCB)............
$1.86..... -1.36 (-42.2360%)..............wipe-out.......FDIC will soon seize this road-kill THRIFT....
Some of the pressure on NYCB was exacerbated by its rapid growth through acquisitions in recent years. Takeovers of rival lender Flagstar Bancorp and parts of Signature Bank (at the direction of the FDIC) almost doubled the firm’s size. As its assets swelled beyond $100 billion, NYCB faced more stringent capital requirements for so-called Category IV banks in light of their systemic importance..............
ala FIRST CITIZENS BANK.............FDIC sock puppets always get burned................................
....impossible to determine the quality of FCNCA's commercial loans.........????..........specifically, the loans that came from CIT...............
....I would assume there are about $60-billion of core, CIT legacy loans.......of the $215-billion in total loans outstanding, which are ASSETS........
....maybe the FCNCA CIT-connected loans are okay..........but with rates going up, most are weaker, by definition......the collateral on the large CIT loans are ODD-BALLS, imo.......waste-water treatment plants, freak equipment makers and users.............some core commercial real estate, office buildings, apartments and industrial.....billions..........but we never saw a concentration.......????.........dunno............IF....IF......the CIT portfolio is a DISASTER, FCNCA is a FAILURE......a 10% charge off/write-down would take $6-billion off of frankie's capital...................which becomes a 'watch' for the entire First Citizens operation......more reserves, higher deposit insurance and limits to dividends and executive compensation...............
...NOT TRASHING FRANKIE's junked out credit union............YET..........BUT THE "ATMOSPHERE" for a FCNCA collapse is certainly here and now, imo......
.....FDIC did a formal bank exam in October of 2022.......and won't do another for 18 months........dunno what the exam showed as those are strictly confidential and may or may not be generalized in SEC filings.....usually yes if good and silence if bad, imo.............
....whatever........F**K frankie and his FAILING THRIFT.............only way UBS or any big bank would buy frankie would be if the FDIC sponsored the sale.....to basically save itself....................BILLIONS...........$6--or--$10-billion or more..............sell now before the blood starts spewing........and UBS ain't gonna say no, if the sonterra suit gets settled as a wink wink condition.....................I/M/O..........................
WANT YOUR MONEY on UWBI....????......get the UWB Receiver terminated..................simple....................
I offered to broker a settlement on sonterra............response I got, as usual a threat of:
Tortious interference is a common law tort allowing a claim for damages against a defendant who wrongfully interferes with the plaintiff's contractual or business relationships. See also intentional interference with contractual relations/business law................F**K YOU to the turd legal weasels who are incompetent buffoons feeding off of a piling on slam dunk case..............I'm sitting right here......................bring it.............
but seriously...............per marty, I say to SERGIO...........5 bills and UBS authors the 'understanding of resolution'................???.....all SERGIO can say is........$2-bills.....????...................marty might take it.................or we call it $3-bills and UBS authors the treaty.............done deal.........15 days.........oh yea!!!!!!......
kinda feel that we is near the closure.............of this nightmare.............that UBS offer to buy frankie's body.......????.........has legs, but I don't think so.....bigger question to all of us..................IS FCNCA gonna fail due to the CIT COMMERCIAL LOAN PORTFOLIO CRASH.......hell yes.......BASIC MATH....F/-- frankie.....imo, he caused our problems and we ain't been compensated yet while his stock has multiplied 5-times...............
.....................AIMHO............................up yours to all.........................we need traction on this mess...........any----mother-----f**k---ing-------news.........off of I-HUB.....anything............
FCNCA trading on 3.5.2024...overall market was DOWN DOWN DOWN.........$1601.15......+$39.35.....or 2.52%...........
here's the kicker.....
Volume 102,231
Avg. Volume 84,641
COULD THE FDIC BE PIMPING FRANKIE TO UBS........????...................
GIVEN THAT CIT's loan portfolio is a $20-billion MELTDOWN/MARKDOWN and would wipe out frankie's TIER 1 capital....= SEIZURE of First Citizens Bank...???.......
TOO WEIRD...........probably true...............but gotta put money in the G-strings of the RABID UWBI CUSIP POLECATS.........and will..........
but we pivot over to UBS...........the CRIMINAL ENTERPRISE that is guilty of violating the Sherman and Clayton ANTITRUST ACTS...via RICO........outrageous behavior.......
OMG.............just when we thought all of FRANK HOLDING BANK AND TRUST........and UWBI.......could not get any more STRANGE.......????.....WTF.....
(this opinion is yours, larry................I'm too freaked out to touch this UBS buying frankie's failing credit union.......too bizarre even for me).............
$1616 div by 98 ='s $16.48 WHAT A KOWINKIDINK RIGHT
First Citizens BancShares, Inc. (FCNCA)
1,616.49
+54.69
(+3.50%)
heard First Citizens Bank came out pretty well, after conspiring to take over that Denver THRIFT........and what became of the dude who made ALL DECISIONS for uwbi....???.....signed the original BK/11 petition, tried to shakedown the FDIC on an ITR - - that went to the SCOTUS??? .....drew something......????.....got into a tussle with his own law firm........KICKED OUT due to a scandal with the young lady who sued the OCC, over that same THRIFT issue..........??..............
weird story........stories.......weirdest ever, imo and then this failed thrift had wiped-out shareholders who got dropped into the biggest of all of the LIBOR litigations.......FREAK SHOW beyond description.........frankie's own mother was somehow tied into this monster mess..............ET--------F**K--------ing------CETERA.......HOPE HOPE HOLDING the end-game for those wiped-out stockholders is a good one....2 mouse clicks = $75 per cusip share......derived the UBS spare change coin purse.........
...
NEW2
Yeppers from $2.50 to $75, I'll hang with my WAGs of 16-27
MY how times change
...cross appeals from the USCA/2 will give a hint, BBAN............we can track the hague letter discovery process............and PACER via the court trackers..........those know-nothings on i-HUB might leak some scoop....................Bloomberg News is on this disaster................Baltimore Sun newspaper, although I heard that it is failing and lame................(doesn't publish news that make businesses look bad).......................
....LONGER CHASE = BIGGEST CATCH, BBAN.................so let's tough it out for a couple of years..................fascinating legal chess match........and when we do get our money, and WE WILL and it will be LARGE GREEN, BBAN.........................all the assets out there in the USA will be vastly cheaper, BBAN.......perfect timing in the USA economy in a year or two..........Donnie's back in the pink house, but the USA economy is getting re-set, and CHINA's economy has COLLAPSED.................oh yea!!!!!!!!!!!!!!!!!!!!..............got that $75 per, obsession.................let's do it.........no fairies, hereon, please.........aimho......
TIME WILL TELLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLL
don't go out TOO FAR on that limb, bobbie................you'll fall out of the TREE..........hit your head and start making bad decisions???............
my take on this sonterra/LIBOR suit, is..........gonna be awhile..............possibly a year or two and we could get a full trial started.......neither side is going to give in..............gotta be an intermediary (Janet Yellen, or DC EMHOFF) or else an unrelated issue, like UBS trying to buy a big USA bank.......for there to be an end to this STANDOFF........
1. .......FDIC wants the LIBOR perps to PAY DAMAGES FOR ALL OF LIBOR.........
2. .......UBS has stated on numerous occasions that the LIBOR loan index manipulations were incidental miscues.........and that technically, LIBOR/sterling was not directly impacted..........?????.........all of UBS many settlements have firm weasel language that relieves them of "responsibility" and for any "consequences"............
...I VOTE FOR BOTH SIDES TO FIGHT HARD.............TO THE BITTER END...........a Baltimore jury finds for the plaintiff group and awards damages of $15-billion, which UBS can easily afford........................aimho............$75 per, to the UWBI CUSIP POLECASTS..................
I'll still go out on a limb and say JUNE TO JULY and this come to an end......................But that doesn't mean that money will end up in your accts then, only that agreements have been reached and then another few months to geterdun and distributed.
YES FRED, like I have suggested 100 X's, they will give us VERY LITTLE TIME TO OFFSET OUR GAINS for tax purposes..........................
...certainly, there will be a SETTLEMENT on this disaster, LAR LAR DEAR.............but the parties involved here are BIG BIG BIG BOYS with lots of money and teams.....teams of law firms......................
....and the cases themselves are super complicated................WE HAVE UBS BY THE BALLS...............rock solid, lar lar..............and the Deutsche Bank settlement RAT OUT might give us numerous smoking guns................
.....LET THE DUMPSTER RATS FIGHT FOR AWHILE, lar lar love..............more time = more money........100% fact............Sherman, Clayton ANTITRUST violations and that international commodities exchange act law...........RICO RICO RICO........................and UBS has $400-billion in free cash, non-Basel III money.............
................lar lar, watch a highlight reel of Lawrence Taylor, or MJ's top 50 or Secretariat in the Belmont.............get chills, LAR LAR and then vow to take down UBS for.......$15-billies and we walk away from this ugly mess with $75 per.............oh yea!!!!!!!!!!!.........aimho......
Fred, depositions due 4/14 for Libor8. I find it hard to believe they want to put forth that kind of information rather than settle as they will settle within a year anyway due trial.
…
Chairman and CEO Frank Holding Jr. and his four sisters Olivia Holding, Hope Bryant, Carson Brice and Claire Bristow collectively own about 20% of First Citizens’ stock and have close to 50% voting power in the company, according to SEC filings, for a cumulative stake worth $2.7 billion.............
Whether frankie realizes the fact, or not, he is smack dab in the middle of the United Western Bank SCANDAL.........................until the original common stockholders get fully remediated.....................frankie is on the hook, imo, for the unlawful seizure of the BANK and the ultimate resolution of fairness given to the common shareholders..................................
SELL OUT TO UBS, frankster..........do nothing...........suck DC EMHOFF into this disaster.........get the FDIC to clean up this mess.................heck, you can even use your own mother's FCNCA stock to get your AH freed from the UWBI problem........but a plan is needed, frank......to close out UWBI and take the black cloud of prison away from the top of your flat head (in larry's opinion)...............
We are simply sitting here waiting on you and the FDIC, frank......................and we'll wait forever, if necessary.............the BUTNER penal facility is only about 25 miles from your crib, frank..............convenient, in the event the UWBI matter doesn't end well, for either or both of us, frank..............aimho...............
What is this Sonterra Action about?
Representative Plaintiffs allege that Defendants unlawfully and intentionally manipulated a benchmark interest rate, the Sterling London Interbank Offered Rate (“Sterling LIBOR”), to fix the prices of Sterling LIBOR-Based Derivatives in violation of the Commodity Exchange Act, 7 U.S.C. § 1, et seq. (“CEA”), the Sherman Antitrust Act, 15 U.S.C. § 1, et seq., the Racketeer Influenced and Corrupt Organizations Act, 18 U.S.C. § 1961, et seq. (“RICO”), and common law from at least January 1, 2005 through December 31, 2010 (the “Class Period”).
Representative Plaintiffs allege that Defendants, as members of the panel that set Sterling LIBOR, made submissions to set the rate that did not reflect the true cost of borrowing funds in the interbank money market but were, instead, intended to fix Sterling LIBOR-Based Derivatives at prices that would increase the profitability of Defendants’ Sterling LIBOR-Based Derivatives positions and cause investors located in or trading through the United States to be overcharged or underpaid in their Sterling LIBOR-Based Derivatives transactions. Representative Plaintiffs transacted in Sterling LIBOR-Based Derivatives during the Class Period.
First Citizens BancShares, Inc. (FCNCA)
$1,602.93
+37.35 (2.38%)
I sure hope and pray this is over and done with all of us getting $20 per at least. And I personally pray it happens before August
“It’s a beautiful day in the neighborhood…”
_______$20 per, checks in the mail very soon______________?????______
whatever.......eerily, the math works, given a $2-billion settlement on sonterra = $9.50 per (and the FDIC doesn't get a dime??).........
on account at present, we have $5 per from frankie's packed fudge factory and $5.50 per in accumulated receiver recoveries........
RIGHT ON.........BRING IT SOON AND PLEASE LIGHTEN UP ON THE DRAMA WITH THIS POS.....(or we will sell our uwbi cusips and start buying into crypto).......
likin' that ACTION JACKSON per.....and the bigger rumor was all of sonterra is settling, although a couple of those 15 rogue defendant banks have been added back in..........BIG DADDY UBS settled for $2-billies, regardless of who pays what............just show us the $20 per and we move on in life.........aimho......
.....NEW RUMOR.....OUTRAGEOUS if true.......UBS IS SNIFFING AT FRANKIE's AH........????........
....would not surprise me............UBS wants a traditional U.S. bank (ahem!!!) with lots of retail branch exposure...........???....CIT might be a problem, but could be a gem.....
....frankie's body could sell for $25-billies, which is only half of what USB would go for............
...BUT HERE'S THE BIG WEIRD-OUT......UBS has the ANTITRUST LIBOR LAWSUIT HANGING OVER IT'S FLAT HEAD.........and frankie, via UWB/UWBI - - us purple sandfleas............IS DIRECTLY INVOLVED...........and who is frankie's life partner in "crime"..............DC EMHOFF.......DC EMHOFF...................
....dudes............HOW CAN OUR UWBI SITUATION GET ANY MORE BIZARRE.................WTF......WTF........give the opinion waiver, larry......I ain't touching this one.....................WTF.............WTF...............WTF...................
off the record, buying FCNCA might be a brilliant move by UBS....condition the merger on also getting the sonterra/libor/ANTITRUST actions 'neutralized'...............and frankie has super powerful political connections.....the FDIC and possibly the husband of the next USA president.....???.....aimho........
....APPEARS THAT THE FDIC DOES NOT PAY ITSELF OFF VIA THE SUBROGATED LIABILITIES, AS A "proven creditor".......problem is there hasn't been a FAILED BANK that clawed back enough recoveries to pay out all "proven creditors"..................and, is the FDIC a "proven creditor".....????........
....our problem is.........WILL THE FDIC STIFF US FOR THE $144mm in subrogated liabilities, or the amount lost (per the FDIC which is sus) on the failed bank....???.....
"The liquidation of the assets for each receivership has been completed. To the extent permitted by available funds and in accordance with law, the Receiver will be making a final dividend payment to proven creditors"....
...no worries, because we are getting a NICE, NICE chunk.....as a "dividend" but whatever.....it's how the FDIC plays the game.....their RULES.....
....just squeeze UBS and whoever else gets thrown back into the cesspool...................and pay us off and we move on.........either gonna be about $12.50 per, or $16.50 per.................if the FDIC DOES NOT RIP US OFF........COULD BE A TON MORE IF THE sonterra SUIT PROGRESSES AND UBS CAVES IN TO KEEP THE ANTITRUST CONVICTION OFF THE TABLE................worst case is do-able.............aimho......
A few banks from 2009...
Just think how long it took to close these small banks:
10125 Warren Bank Warren MI 10/02/2009
10162 Citizens State Bank New Baltimore MI 12/18/2009
10164 Rockbridge Commercial Bank Atlanta GA 12/18/2009
10166 Independent Bankers' Bank Springfield IL 12/18/2009
2/28/2024 - Notice to All Interested Parties of Intent To Terminate Receiverships
A Notice by the Federal Deposit Insurance Corporation on 02/28/2024
Notice is hereby given that the Federal Deposit Insurance Corporation (FDIC or Receiver), as Receiver for the institutions listed below, intends to terminate its receivership for said institutions.
Notice of Intent To Terminate
Receiverships Fund Receivership name City State Date of appointment of receiver
10125 Warren Bank Warren MI 10/02/2009
10162 Citizens State Bank New Baltimore MI 12/18/2009
10164 Rockbridge Commercial Bank Atlanta GA 12/18/2009
10166 Independent Bankers' Bank Springfield IL 12/18/2009
10171 Barnes Banking Company Kaysville UT 01/15/2010
10193 Centennial Bank Ogden UT 03/05/2010
10221 Lincoln Park Savings Bank Chicago IL 04/23/2010
10265 Crescent Bank and Trust Company Jasper GA 07/23/2010
10273 Liberty Bank Eugene OR 07/30/2010
10275 The Cowlitz Bank Longview WA 07/30/2010
10276 Ravenswood Bank Chicago IL 08/06/2010
10297 Premier Bank Jefferson City MO 10/15/2010
10308 K Bank Randallstown MD 11/05/2010
10315 First Banking Center Burlington WI 11/19/2010
10324 The Bank of Miami, N.A Coral Gables FL 12/17/2010
10486 Community South Bank Parsons TN 08/23/2013
10524 Seaway Bank and Trust Chicago IL 01/27/2017
The liquidation of the assets for each receivership has been completed. To the extent permitted by available funds and in accordance with law, the Receiver will be making a final dividend payment to proven creditors. Based upon the foregoing, the Receiver has determined that the continued existence of the receiverships will serve no useful purpose. Consequently, notice is given that the receiverships shall be terminated, to be effective no sooner than thirty days after the date of this notice. If any person wishes to comment concerning the termination of any of the receiverships, such comment must be made in writing, identify the receivership to which the comment pertains, and be sent within thirty days of the date of this notice to: Federal Deposit Insurance Corporation, Division of Resolutions and Receiverships, Attention: Receivership Oversight Section, 600 North Pearl, Suite 700, Dallas, TX 75201. No comments concerning the termination of the above-mentioned receiverships will be considered which are not sent within this timeframe.
(Authority: 12 U.S.C. 1819)
Federal Deposit Insurance Corporation.
Dated at Washington, DC, on February 22, 2024.
James P. Sheesley,
Assistant Executive Secretary.
[FR Doc. 2024–04071 Filed 2–27–24; 8:45 am]
BILLING CODE 6714–01–P
https://www.federalregister.gov/documents/2024/02/28/2024-04071/notice-to-all-interested-parties-of-intent-to-terminate-receiverships
WELL, then I share your sentiments and I have actually worked with these boys, on a contract-type basis.............no conscience and no soul, all under the guise of protecting the USA taxpayer or the U.S. Treasury, or something.............crazy smart............????..................
The FDIC has stiffed me and lied to me and does make mistakes and mis-calculations.....I've outsmarted them a couple of times and the FDIC hates courts and attorneys (a lot of them are attorneys/accountants and worked in the field as bank examiners).......and the FDIC also hates BK, but doesn't consider it a court.......
BOTTOM LINE, bobbie............on UWBI.......can't pass judgement on the FDIC until the end.....FDIC said that it inherited UWBI....and has been cordial to me on UWBI....I've gotten a couple of wink-winks and they know I know the game.......we ain't getting wiped out..........WIN #1.......and the FDIC said that it allowed frankie to buy us for the tax credits........and the FDIC said that the original common stockholders of UWBI would "be taken care of".......and they showed me the receiver recoveries to date (which was incomplete, imo, but quite healthy).........and finally, the FDIC has acknowledged that the UWB Receiver and UWBI could add to the recoveries "substantially" in the event sonterra v. barclays plays out............
so, bobbie, as a former devout Christian, and because we are in the LENTEN SPIRIT...........I will not pass judgement on the FDIC, but rather wish them well in all of GOD's glory..............amen...............and, and, bobbie, these FDIC dorks could really, really, really CASH IN BIG ON SONTERRA........just sayin'.........
THERE AINT NO LOVE FROM ME TO THE FDICK, they put our oil and gas co's OUT OF BIDNESS and withheld a 386K dollar check that had yet to be even deposited in our accts so they had no legal right to it when they seized PENN SQUARE BANK as it was not ON DEPOSIT in the bank
That one check would have kept us afloat.
A teller was handing us the check and an FDICK agent JERKED it out of her hand and saw our name on his list as owing loans at the bank and TOOK THE CHECK, that move cost me and the WIFEY a KOOL HALF MIL $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
I went APE SHIT till he HIGH SIGNED 2 agents with MP9's to come over and escort me out of the bank
SO NO THEIR AINT NO LOVE TWEEN US AT ALL, YEPPERS I HAVE DEALT WITH THE PRICKS BEFORE
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Moderators Nightdaytrader Docsavag Newtogame fredscott36 |
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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