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May God be with you and Kay at this difficult time. May His healing be upon Kay. Will be praying for you both!??
Advance happy birthday Lodas! More power to you. God bless??
Wellstrade (Wells Fargo) says “merger”
Amen!!
Well said AZ! Amen??
Happy anniversary RD! Good luck and God bless!
My Wellstrade account with Wells Fargo show $11.16 from COOP merger, and 7 new COOP shares. Will there be more coming in?
That piece of news makes me really happy! Hope tomorrow brings good tidings!:)
Shares cancelled, but escrow markers were put in their place, 1:1
That is my hope! Retirement is coming up in 2 years, so it may be a timely pleasant surprise. Hope springs eternal. :)
We do need to know who did all those withdrawals. Is there a record somewhere?
Some of those deaths could be from Takotsubo cardiomyopathy(broken heart syndrome)--this is a legitimate medical diagnosis.
Hope there's a pot of gold at the 23rd mile!:)
It was mentioned on the Insider Monkey article published 5/27/2016 entitled: " Five Cheap Finance Stocks With Big Hedge Fund Support". You can probably read it if you go to : insidermonkey.com
I wonder if the 6 months is related to the reason that the 6 billion dollar NOLS is not going to be available to be used until this coming December 2016.
Agree. I continue to buy with the price dips. Akanthos capital reaffirmed today that WMIH is one of their most valuable holdings. These investor groups and hedgies definitely have greater research capabilities than I do, so I'm going with them! However, be cautiously optimistic. There are still a lot of unknowns in this play. Put some eggs in other baskets as well, and keep your day job for now.....:)
Tipp Hill Capital lists WMIH on their top 5 stocks to watch. They actually own over 2.8 million shares of WMIH, making it their #1 stock by virtue of shares owned. They accept outside investors, but the minimum investment is 1 million US dollars. This makes me think there is something to our beloved WMIH. Hmmm...
KMART was a 16 billion dollar company pre bankruptcy. When it emerged from bankruptcy, the newco shares went as high as $70/share. WAMU was a 300+billion company pre bankruptcy; I wonder how much WMIH will eventually go up to?
20-30 billion would translate to about 5-8 dollars per WAMUQ escrow share. Hmmm...that's not too shabby!
Said a prayer for your wife and you. Make sure she got her huggy bear ready.:)
Ex,
I have followed this saga since 2008, even before WMI filed for bankruptcy. I have read all the documents that are unredacted, and there is still a lot of uncertainty in my mind how this is going to end. I made good money with AMBAC, Citi, Fannie, and Freddie back in 2008. At that time I saw a big potential for WAMU to recover so I went ahead and bought some shares; but then they got "stolen" instead. Even then, I still felt there was enough upside to the story so I bought more "WAMU" shares post bankruptcy filing. Now, all I can do is wait and hope that our escrows and WMIH shares are worth the loooooong wait! I'm optimistic here, but I'm not quitting my day job yet. Got 4 more years to go until retirement :)
BK, are you stating absolute factual statements, or are you just speculating or putting out educated opinions? Just wondering.
Well SIIX, I'm sure you know those amounts you talk about are in thousands, right? So the total net income is $197,000. And that is just for WMMRC, a subsidiary of WMIHCorp. As for WMIHCorp,it appears they have not decided yet what other business they are going to get into. But there is great upside potential to this entity. I believe the wait is going to be worth it. AIMHO.
Thanks BKS! You believing that there is "no doubt it was stolen" means a lot. Gives me hope there should be more coming in terms of remuneration for escrow holders as well as WMIH shareholders. Yes, we sure did sign releases because we were somewhat forced into it. There was that sword of Damocles over our heads then.
Now, those releases are good as long as there is no fraud involved; if there is fraud then those releases get invalidated.
The question now is if the bank was "stolen", then there has to be fraud involved. However, with all the gag orders, redacted documents, waivers against subpoenas, etc it appears some entity is determined not to get any signs of fraud get out there in public. I believe they will be successful in keeping this "Pandora's box" under lock and key, as long as they make everybody happy, including us...shareholders/escrow holders!
AIMHO.
Do we have proof that Susman is truly gone? Below is what they have worked and are working on in behalf of shareholders/escrow holders:
•Represents Washington Mutual Liquidating Trust in investigation into potential claims against third-parties, including claims against major brokerage firms for short-selling Washington Mutual Stock and claims against auditors and others for professional malpractice.
•Represented Equity Committee in the Washington Mutual bankruptcy in two successful challenges to reorganization plans and negotiation of confirmed plan awarding equity ownership of reorganized company and other assets.
As long as Sussman is still retained, I will remain optimistic. Remember, the man said it is not their firm's style to sue on the basis of fraud. I believe he has some damaging information to cause the worried look on the opposing attorneys' faces when they came out of the closed door meeting with judge Walrath.This is a poker and chess game all in one--at the highest level.AIMHO.
Most feared lawfirm: Sussman Godfrey. The following link shows how Sussman-Godfrey firm works, and what they have so far won for us shareholders. It mentions that they work for a contingency or a fixed fee. IMO, they are not done yet with their work for WAMU shareholders. This could potentially be the biggest win for their firm!
http://www.susmangodfrey.com/content/documents/Most_Feared_Plaintiffs_Firm_Susman_Godfrey.pdf
So far Sussman's billing is a pittance compared to Rosen's, but he gets paid on commission. Could you imagine how much he will get if billions eventually get back to the estate? IMO, Sussman has the list of the 10 horsemen and he has already deposed some of them. I believe he has enough ammunition for plan B, C, or D if it comes to it.
If this is true, and can be proven further that the 10 Horsemen colluded with JPM to cause the "fake" bank run in September of 2008, then the firesale of WAMU was a case of fraudulent conveyance thus invalidating that sale. It is now too late to revive WAMU, but they should return everything to the WAMU estate. This is probably just a dream, but hey...naivete can be bliss at times.
According to John Reich, then head of OTS which was the main regulatory agency overseeing WAMU, the reason WAMU collapsed was due to the 16+ billion bank run in September of 2008. My question is, is there a list of who those depositors are that made such a massive withdrawal/run? Or, is there a way we can get the record if it has not been published? Can anyone here post it if they have it? TIA.
Got my new WMIH shares with my Wells Fargo account under "WMIH Merger", and about $3 under "cash in lieu" WMIH corp.
IMO--he probably fed a lot of data to JPM's Project West which was created in 2007 to study, in earnest, the takedown of WAMU.
Well, I think all of the WAMU shares that have been circulating were issued before September 25, 2008. Were there any new shares issued by WAMU after September 25, 2008 when WAMU already ceased to exist? I don't think so. Therefore, IMO, there is no distinction between pre and post seizure shares/shareholders as far as escrow markers and eligibility for payment on those escrow markers are when the time comes. Crossing my fingers and toes!
WC, I sure hope things will be alright for the escrow holders. You have made an impassioned and convincing plea for us to sign releases several years ago or else we are in danger of not getting anything for our common and preferred shares then. So, I am hoping and praying that after 6 years of waiting we will be rewarded soon.
By the way, when you advised us to sign the releases, did you just mean the future WMIH shares, or also the escrows? Just wondering.
Yes, we have been compelled to sign the releases or else we will not get any payoff for our escrow shares. There was almost a 100% certainty that there is a payoff in the end. I did not see any wording in those release forms we signed saying that there is a chance we will not get anything. I could be wrong. What is the law firm representing equity/escrow holders? I wonder if they have a contingency plan to sue if get zero for our escrows. I will be more than happy to jump in when that happens. But I will be much happier if we get paid off "fairly", and not go to all the legal wranglings which may take more years. Hoping for the best here!
I shall heed the voice of the wise(Aristotle, and Mordicai), and be patiently waiting for that sweet fruit. I have waited six years, and willing to wait this out for whatever long it takes. I have a feeling it's not going to be that long though. I will look at the PPS drop as a buying opportunity!
Time for us to collect some of that fine! I wonder if Ms. Fleischman knows enough shenanigan's about JPM's acquisition of WAMU. Maybe Sussman can/should depose her. It appears she is willing to divulge everything.
Any news on the progress of Sussman's depositions? Who are being deposed anyway? If he is deposing people from the hedgefunds involved in possibly causing that massive "artificial" bank run in 2008 that caused the seizure of WAMU then maybe our escrow shares have a chance of having substantial value. Mike Stathis made a valid accusation in 2008 or 2009 that that fateful bank run was planned, but he could not get the list of those who either shorted the stock or did massive withdrawals. Does anyone have the list? Or is this what Sussman is trying to find out through the depositions he has started? If it turns out that the entities that caused the bank run have done so in partnership with JPM then that would be a fraudulent move which would then make the seizure of Washington Mutual illegal. I know we can not bring WAMU back, but the valuation of WAMU should be reset back to preseizure if fraudulent conveyance is proven. AIMHO.
So, with 3 billion the P's will get $300, K's $7.50, and U's $0.51?
Yup. EOM.