Na, You buy it- you take the risks involved.

I hope the back and forth between KK, Rotella, and FDIC gets ugly as hell.

such as...............
FDIC- You are hiding money.
KK- Nope did it legally.
FDIC- You failed WaMu
KK- Nope, you did.
KK-We were solvent.
KK-Here is a complete list of assets and subs and 3.1A.
FDIC- It was an unprecedented time.
KK- And?
KK- WaMu should get fair value.
FDIC- UH UH UH
FDIC- F me.

A guy can dream right?

I like this wording-As you may have heard, the FDIC has sued three former Washington Mutual execs, including CEO Kerry Killinger, COO Stephen Rotella, and home loans president David Schneider, whose “extreme and historically unprecedented risks with WaMu’s held-for-investment home loans portfolio” resulted in the bank’s collapse (according to filing, the bank’s chief risk officer told Killinger WaMu’s “DNA” was missing “the risk chromosome,” a few weeks before it went into receivership, to which Killinger likely scoffed and called the guy a pussy). The regulator wants $900 million from the trio and they’re not the only ones Sheila Bair says better start cutting checks- Killinger and Rotella’s special lady friends (Linda and Esther) have been named in the suit as well.

During the period from January 2005 to September 2008, Defendants collectively received more than $95 million in compensation. As the losses mounted in the Spring and Summer of 2008, Killinger and Rotella recognized the potential problems and took steps to move at least part of their wealth beyond the reach of their creditors.
These steps apparently included shifting a few million and transferring property in Shoreline, Washington and Palm Desert to Linda Killinger’s name and in the case of the Rotellas, transferring “in excess of one million dollars to Esther, in addition to putting a resident in Orient, New York in her name.

What do the defendants have to say about all this business? According to Killinger, the FDIC should be ashamed of itself. The suit is “baseless and unworthy of the government,” he huffed in a statement this morning.



http://dealbreaker.com/2011/03/the-fdic-wants-900-million-from-former-wamu-exes-their-wives/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+dealbreaker+%28Dealbreaker%29#

Everytime I see fat Levin I think about that day.

Disco- I doubt it. It seems the case the FDIC is trying to make is against the execs transferring assets to their wives.

Im sure they would use 3.1A to cover their own butts. As in- if you continue to sue I'll send 3.1A to NYTimes.

I would be nice if they through us a bone.

Austin- does the owner of the company you work for handle all the business transactions?

No- he the supporting cast, Nelson and Sargent are our guys, and they are good. He will be there when and if necessary.

I sure can. You mentioned-

Think about all the great filings- minus the EC. WaMu nation lives!!! From UIE to Ben Mason to Dr. A's analysis, plus many many many others.

The EC is not alone. How happy do you think Mike W is everytime WGM gets ripped a new one :) Me too.

Monica- its been awhile, but at some time, it was mentioned that a SH mtg is not favorable because we MAY not have the majority.

What if we did have the mtg, elected new officers, and the new counsel..............WGM.

I dont think the EC would make a bold claim and ask for 2 weeks for sh!ts and giggles.

I believe they have the dynamite in hand, with a short fuse. You want to believe its a smoke bomb, be my guest.

I am shocked at the pps this morning-eom

Jrl-Well dont they?

Hard to say an exact reason- logic tells us preferred gets paid first and at this point have a better chance of seeing a good return----and folks are trading in common for preferred.

its all a real mystery tho-

imo

So Prevor went up- talked bad about the judges bff and then adjourned? Did I miss something?

Cant listen- but keep the post coming guys

SLY- you read my mind. eom

I thought we would have a buzzzzz today, but it looks like everyone is tired out, sold out, or bummed out. I still believe!!!!!!! GO WMQ!

A Billion. Wow, how do you lose a BILLION?
As someone posted the other day-

About as fast as they sold the art.
I have a 1929 original for $10.00.
Going once... going twi....SOLD.

Hope these guys can get Sussman and the EC any info they have-

Why wouldnt he give it to charity instead of the owners. Back to, I took ur bike, sold it, gave proceeds to a bum. perrrrfect.

Holy smokes Batman!
Joe Schorp speaks the truth for all of us in Gotham!

Good letter Karaoke, Im sure the judge will definitely see the bold and underlining. :)
good job-

Can someone help connecting the dots for me? Is the ATT ruiling good for us so we can go into their records?

I cant believe its almost been a yr since the cliff dive. Where did the yr go?

cici- have you bought this stock at every level-lol.

Talk about speculation-

I dont know about you guys, but with a 10-20-50 bagger possibly on the horizon, why be so nervous? Should be throwing a party with the position we are in.

In my own opinion of course.

I think this board consists of 90% longs, 7% bash, 3% newbies.

Did we hit 52 week low?

Gotta have the stones for this one. I dont know if Tool Power is still here, but he had a great siggy.

I really thinks this stock is going to go somewhere soon :)

Wow Bubba.
Thats about as cool as taking a shower with your dad.

You're "bubba from the South" so I think I should use another pun.

Hey Dork, that made you mr. popular with me. great job.

Dude, wins an Oscar and says, "I just want to say 3 years after our financial crisis and not one financial executive has gone to jail, ty" or something very close to that.

JD- eat your heart out.

LG- very very exciting indeed. I had to pause the Oscars just to reread your post.

lets go wamu! Lets go!

They are upset they are going to lose a couple billion they were going to use for planes and island hopping in Greece. tough.

Thats fine, just dont spread it as Gospel, because its not.

Woodie didnt say we are in the money?? He's talking about covering and ID addresses.

sometimes-
I havent sold a share and Im not a basher, but to say WE ARE IN THE MONEY is careless. As of today, we are not. WE SHOULD BE, BUT AS OF THE FILINGS BY THE DEBTOR, WE ARE NOT.

I hold mostly PQs.

Wang is this you? lol. 500 Billion??? whoa.

http://www.kccllc.net/documents/0812229/0812229110224000000000010.pdf