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Their work was done when shareholders agreed to POR7.
Susman is long gone.
Susman is long gone.
OTS seized WAMU and placed it into receivership with the FDIC.
So over 3 years is an "orderly and timely manner"? Also, where is the litigation on our behalf?
JPM offered 1.88 billion for the assets and got them. What about Killingers culpability in running WAMU into the ground?
11. Zero
Walrath rejected 6 POR's because equity was not included. We all should be thankful for her.
Jamie Dimon paid an unannounced visit here in Boise yesterday. Went to a local body building business and a few branches. I would love to have had a chance to, ahem, speak with him on a certain issue.
Why is everyone excited about the share distribution? It is just a pebble in an ocean.
After the 7th POR I hope we are getting more than just a shell company. If not, what was the point in fighting for equity if there was nothing for us?
Susman does not represent equity anymore because the equity committee no longer exists.
So if no money is coming for escrows, why do we still have them or why hasn't LTI closed shop? It never made sense to me we signed releases only to get new co. shares. Everyone could have bought new shares after old equity got canceled. Seems to me there has to money somewhere.
The BK was a done deal in 2012 when POR 7 was approved by everyone. The saga ended then.
No. JPM purchased those loans. There is no $$$ hidden.
How about those assets now? 30 billion for the world to see!
What more proof do you need? A few hundred million for escrows at best.
Commons would get 25% of the 40 billion=10 billion. Commons get 15 cents for every billion. 10x.15=$1.50
Again, JPM was fined 13 billion for wrong doing, but the govt is letting 30 billion slide? Use some common sense.
So the govt publicly nails JPM for 13 billion but they let 30B slide? OK.
So the Justice Dept publicly wacks JPM for $13B but are keeping the "truth" about the seizure under wraps? You do realize the FBI investigated the seizure and found nothing wrong. Surely they would have access the the entire PA.
Per the latest SEC filing that Catz posted. Not my words, theirs.
From the latest SEC filing - April 24, 2014
1) Shareholders meeting in NYC on June 4th, 2014
2) Statement [relating to escrow shares] (page 29):
"Based on this investigation, the Litigation Subcommittee has determined not to assert claims against such third parties, other than those which are currently pending and being litigated.
As a result of the Trust’s public disclosures on these matters, at this time WMIHC believes it is increasingly unlikely that it will realize any value on account of Recovery Claims."
What if WMILT is closed before any $$$ is recovered. It would seem to me the 75/25 split would be moot because the FDIC is recovering money, not WMILT.
So it appears nothing is coming for escrow shares. If the FDIC recovers money from the LIBOR suit, who gets that money since WMILT will be closed by then? Pre-holders?
They weren't sacrificed for TARP. TARP $$$ would have saved them just like all the other banks. They were sacrificed because JPM wanted WAMU real cheap.
That is true but at this time no 3rd party suits are being pursued and probably never will.
5-$10 for commons would be 33-66B for commons alone! And no, you can't sue if you signed those releases.
WMB owned those loans, not WMI, thus nothing would benefit WMILT.
Large, it is my understanding that commons get 15 cents for every 1B. So 6B would be .90 per share.
Would be. But that would amount to 10B for commons to get that.
Pretty much.
Hopefully this is the case and the reason why the US trustee went to bat for us. I think this is the main reason we got escrows. Those in the loop know those loans aren't owned by JPM.
Has this been posted before? This ruling coincides with Lawrence Nardi's(former WAMU/JPM) deposition a few months earlier.
http://mfi-miami.com/2012/12/michigan-supreme-court-rules-3-75-billion-of-jpm-chase-held-mortgages-are-voidable/
That person who testified was a former WAMU loan officer who left to work for the FDIC. Catz has already addressed the sealed doc issue but had nothing to do with Susman finding hidden assets. I believe FDIC and JPM gave us something for our releases but will have to wait until Sept to find out.
There were no lawsuits filed against GS, only a request to produce documents.
The GS inquiry was for illegal naked short selling, not legal. When GS was "helping" WAMU, they were allowed to have short positions.
The LTI found nothing wrong concerning GS trading. We still have escrows so there is value from somewhere else to pay us.
I noticed that too weeks ago. Doesn't make sense cause GS turned over their docs and nothing abnormal was found. Indicating their might be a future pursuit is puzzling to say the least. Escrows are still in our accounts but wonder where any money will come from.
Because they knew prefereds would see some recovery but not commons.
Not everyone had money to buy more shares, hence the hopes escrows would get something. I have always believed the recovery would be in WMIH.
Pretty much.