Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Does that include Simpson & Thatcher? Do you know if Shearman & Sterling will review tax issues related to this matter?
Agreed. Mainly when it is clear that the level of disclosure given to shareholders and potential investors is really poor.
Actually, things are so amazingly ridiculous that Ms. Sheila Bair declared to Bloomberg news ( it was after WMI seizure ) that banks were a ggood buy. I thought she was a regulator and not a broker, analyst or any other thing.
She should be bound to be prossecuted by giving a declaration like that. By the way, anyone who declared that must have commited several grave mistakes in the Wamu seizure. If this lady is clever, she should push JPM to make a deal with WMI and cover her wrongdoings.
Thank you!
Do you know anything about the hiring of Simpson & Thatcher? This is relevant, since their acting on behalf of WMI could mean that a deal was being structured.
This law firm has done work on behalf of JPM ( as their own web site indicates ) and I do not believe they would work for WMI without JPM's consent. This is a very basic principle that a leading law firm from NY would observe, so as to avoid a dangerous conflict of interests.
My point is that if these lawyers are working for WMI, it is reasonable to assume that they are structuring a deal between WMI and JPM. Any thoughts about that?
Thank you too!
Thank you very much!
Could anyone please clarify if Alan Ficshman continues with WMI and if Simpson, Thatcher & Bartlett was hired by them?
I am optimistic too. I just did not understand your math.
And on top of that JPM is really very likely to buy WMI stocks. As you said, this is still America, so JPM shoud not be keen on facing horrible legal actions in the future.
As a matter of fact, the only possible reason why TPG , WMI's CEO and other shareholders are not taking legal measures yet is that they are already talking to JPM.
Actually, neither you nor me know for sure. Logic tells JPM will make an offer because it does not make sense to leave a significant legal and reputational exposure like that around.
The real issue is, likely, the pricing!
Good sign you think the stock will go up!
There are no reasons why JPM will not buy WMI shares. The discussion seems to be the price. Perhaps JPM will wait until its shares appreciate in value, so they will have to give less shares to WMI shareholders.
Does anyone can explain if FDIC seized and sold any real estates from WAMU, or if they are still property of the holding?
Maybe if (i) WMI has evidence that JPM and others involved in this "thing" didn't act "properly", and (ii ) the holding's value is reasonable, JPM should close the issue by acquiring the holding.
As to WMI's debt, JPM can easily refinance it and, in practice, extend its maturity. JPM will take a lot of cash promptly and pay debt on a much later date.
If from a financial standpoint the WMI is interesting, JPM will likely buy it, at lest to improve their image.
Perhaps the question is the price.
Just need a court authorization, which should be granted if judge thinks this is in the best interest of company and all parties involved.
Above all, TPG's and former WAMU's reaction to all that is inexplicable. Either they have obtained some benefit we cannot see or they expect some kind of compensation to shareholders to come.
In any case, as a foreigner, I would think a lot before investing in the USA. Certainly, there are better alternatives like Uganda, Zambia and others.....
If JPM wants to buy the Holdings , this auction price is marvellous !
Someone said the holding inc was going to announce results today. Any news ?
DEFINETELY IT SHOULD BE DONE ! Just like in the Bloomberg report that says WACHOVIA clients are taking their deposits to other banks in solidarity of shareholders ! WAMU clients should do the same to show they are not happy with the scam...they do not accept what has been done to those who believed , worked and invested in WAMU...
Again, I am a foreigner. I do not understand why the SEC does not look into this matter. Shoud not they be interested in protecting shareholders?
So far, the only explanation is that the US is a banana republic?!
FBI, FDIC and other agencies are, as reported by Bloomberg and Reuters, investigating all aspects of Wamu case. So, even if this investigation is a mere formality, it is in fact being conducted....
I am a foreigner and understand very little of what happens in the US. Anyway, two points:
(a) when FDIC talks about prospects of recovery for preferred, common shareholders and other creditors, it is referring only to Washington Mutual Bank and not Washington Mutual Inc., the holding company, which should be a different story; and
(b) if Washington Mutual Inc had the ability to take around US$ 8 billion in debt, it would be reasonable to expect that it had the consistensy to do so and, therefore, significant assets.