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The ABS/RMBS Derivative Contacts Are Being Resolved.
This is a great thing.
Yes I know that very few people even have a slight understanding of the Derivative Market. Don’t blame you.
Derivatives are just naked options.
And very NAKED.
Please let me say it again,
Key statement from the link I responded to; OTC.
Code word for CDS/CMO. The OTC is the exchange for the derivatives. Those same derivatives contracts insured our and fellow investors CERTS.
The Bad Bankers needed time to generate funds/money to pay their bills. LIBOR will only pay back a small amount, but cleans up the books.
The Bottom Line;
We have already been told the numbers.
I am totally confident in my presentation of the documented numbers.
As I have said ;
WMI; $307.2 Billion
$7.9 Billion returns.
The FDIC’s response, “$299 Billion for WMB and it’s Assets”.
The FDIC is adding value to WMB and it’s Assets as required by mandate.
The WMB deposit base moved to JPM.
Therefore the old WMB deposit base in 2015 is definitely not a liability on WMB’s books.
Yes, CWG lost again.
Some say that no big numbers coming back.
Sorry AZ but I have to call you out.
Your thesis doesn’t work.
Reason; The Preferred Funding only addresses Series R and doesn’t resolve Series K or TPS’s claim as you presented.
The Retained Earnings at 75/25% generously guaranteed full satisfaction of Class 19.
RE satisfies all of Class 19.
Series R Preferred Funding is all about Property Rights. Series K maybe?!?
The Performance Payments.
Just like CEF’s.
Know what you Own.
Ron
Yes JPM Settled.
The Proof;
41.6 “Willful Misconduct”.
JPM is admitting to the RICO charge by WMI and ANICO.
JPM will pay for “WMB and it’s assets” by paying the FDIC, then the FDIC pays us.
That is why the ANICO case against JPM was dismissed!
I’m very sure ANICO has tolling agreements to reopen the case if JPM fails to perform. Same for WMI Equity in relationship to 41.6.
JPM is only released in principle.
True release comes with “Paid in Full” by the FDIC.
As I have explained;
WMI sued the FDIC for $307.2 Billion, $7.9 Billion came back to the Estate. Then the FDIC responded with; $299 Billion for WMB and it’s Assets”.
Not my numbers. THEIR NUMBERS.
“Willful Misconduct” adds a multiple.
Judicial precedents. NOT IMO.
Ron
BBOb. Please Tell Us About The Derivative Market.
Please inform us regarding the derivative market relationship with the ABS/RMBS and trusts/CERTS back in 2008.
Please tell us about CDS/CMO’s relationship/responsibilities regarding the CERTS?
? Banker? You should know…
Something more than just your opinion would be beneficial, like real documentation!
Ron
BBOb You Have Never Understood The First-First Filing.
28-1 barred even the WMI BOD from seeing/reviewing the contents of WMIIC. Stu forbids everyone except himself, the Judge, and Rosen.
No 28 discussion.
That is exactly the point Nelson was making.
What are these assets that Stu is protecting that even the Examiner couldn’t review.
Stu, Examiner, Judge, JPM/FDIC, Rosen, HF’s, Nelson, and us all know that WMIIC is a monetary speakeasy for dividends.
That is why 28 was so protected.
ABS/RMBS accumulation of dividends.
Ron
The Point is Still Insured ABS/MBS/REIT.
Have not been compensated for the CERTS losses from the Derivatives insurance contract writers.
The securitizer has completed the put backs.
Ron
Did Someone Mention Securitization?
“Securitized by the Defacto Nationalized GSES”.
Securitized means that the Trust/package was turned into a bonds/notes to be sold into the market.
The bonds/notes prospects requires that the bonds/notes are insured.
The securitizer is responsible for the outback’s into the Trust for the failed loans, but the losses are to be compensated by the insurer.
Yes I’m driving home the point.
The Derivative Market’s insurance policies still have to cover for the losses of the “Credit Crisis”.
Example;
The FDIC sued the Big Banks regarding LIBOR Currency manipulation on WMB’s behalf and other ‘failed banks’. Case is ongoing.
F&F profits was also reduced due to the Big Banks LIBOR Currency manipulation.
Yes I can say more.
The Credit Crisis was all about the Derivative Contact Writers not being able to cover their contracts because they didn’t have the money.
Ron
From Your Presentation.
COOP is third in the Corporate structure.
IMO WWMI HOLDERS CORP holds all WMI’s legacy assets
COOP/NationStar will not be a beneficiary to WMI legacy assets.
That is why WMIHC was broken out separate.
Can a distributions agency treat equal recipients differently?
Not legally!
Ron
From Your Presentation.
COOP is third in the Corporate structure.
IMO WWMI HOLDERS CORP holds all WMI’s legacy assets
COOP will not be a beneficiary to WMI legacy assets.
Can a distributions agency treat recipients differently?
Not legally!
Ron
As Always. The Derivative Market is Never Discussed.
Same for F&F.
WaMu by example;….
Snippet from a BARB response to a question;
“The type of assets WaMu held. WaMu's assets included a significant number of subprime mortgages, which were difficult to sell in the aftermath of the financial crisis.”
Not really a true statement.
WaMu like F&F held a portion of the insured Bonds they ordered. 15% minimum of the offerings as required.
BARD and the MSM never discuss the fact that the ABS/RMBS CERTS/notes/bonds are insured as required by the notes prospectus.
Everyone fails to discuss the existence of the Derivative Market Meltdown as the insurer of the ABS/RMBS CERTS/notes/bonds couldn’t pay up.
The “Community Reinvestment Act” required the banks to make the loans to unqualified applicants.
Therefore the banks created the ABS/RMBS CERTS market by packaging the mortgage into a trust, then securitizing the trust into a insured bond.
Because the ABS notes were insured, through the Derivative Market CDS/CMO, the banks exposure to a default of the loans was basically zero.
The CDS/CMO writer of the derivative ‘insurance’ is the exposed notes to the losses.
The notes derivative insurance policies as options contracts are just naked calls. The writer is totally exposed to the downside of the market.
The derivative contracts writers then manipulated the LIBOR interest rate to reduce their losses.
WaMu’s Mortgage Portfolio exposure to losses was Zero because the portfolio was insured by Derivative Contracts to cover the losses. Just like F&F.
In 2008, JPM was the writer of 57% of the $83 Trillion in Derivatives notables.
What does BARD have to say to this.
What is the current number for Derivative Notables?
I posted last year’s numbers of $362 Trillion.
I asked the question on the COOP MB. No one responded!
What’s the point?
The Mortgage Portfolio’s were insured by option contracts.
Very little exposure for the Banks and F&F.
Ron
Life, Liberty, Property.
As Always. The Derivative Market is Never Discussed.
“The type of assets WaMu held. WaMu's assets included a significant number of subprime mortgages, which were difficult to sell in the aftermath of the financial crisis.”
Not really a true statement.
WaMu held a portion of the insured Bonds they ordered. 15% minimum of the offerings as required.
BARD and the MSM never discuss the fact that the ABS/RMBS CERTS/notes/bonds are insured as required by the notes prospectus.
Everyone fails to discuss the existence of the Derivative Market Meltdown as the insurer of the ABS/RMBS CERTS/notes/bonds couldn’t pay up.
The “Community Reinvestment Act” required the banks to make the loans to unqualified applicants.
Therefore the banks created the ABS/RMBS CERTS market by packaging the mortgage into a trust, then securitizing the trust into a insured bond.
Because the ABS notes were insured, through the Derivative Market CDS/CMO, the banks exposure to a default of the loans was basically zero.
The CDS/CMO writer of the derivative ‘insurance’ is the exposed notes to the losses.
The notes derivative insurance policies as options contracts are just naked calls. The writer is totally exposed to the downside of the market.
The derivative contracts writers then manipulated the LIBOR interest rate to reduce their losses.
WaMu’s Mortgage Portfolio exposure to losses was Zero because the portfolio was insured by Derivative Contracts to cover the losses.
In 2008, JPM was the writer of 57% of the $83 Trillion in Derivatives notables.
What does BARD have to say to this.
What is the current number for Derivative Notables?
I posted last year’s numbers of $362 Trillion.
No one responded!
What’s the point?
The Mortgage Portfolio’s were insured by option contracts.
Very little exposure for the Banks and also F&F.
Ron
Life, Liberty, Property.
-> AZ Is RIGHT <-
WMI HOLDINGS CORP is no longer the Registrant.
COOP is the current Registrant.
The WaMu Eclipse.
…
True, IMO The Precedence Has Been Set.
The resolution of past cases should speed up current cases based on previous rulings.
Ron
Many To Most All ABS Were Based on LIBOR Interest Rates.
The FDIC is litigating on ‘our behalf’ and others to recover the losses in interest payments from the Big Banks LIBOR Currency manipulation.
Yes the Big Banks are a criminal organization.
But many HF’s voted against them.
JPM needed a release granted in 41.6 for “Willful Misconduct”.
An admission of guilt.
The Release isn’t statutory until the payment is made!
We await payment.
JPM needs the Release.
Ron
Newflow. Thanks For Proving Me Right.
Yes there is a Plan 6 Liquidation Trust.
Again, thanks.
Do you know the creation date of the Washington State LT?
The Plan 7 LT Delaware Trust is closed. True?
I believe that is true.
Ron
WOW. Another Very Emotional Response.
Let my try to help you.
Yes WMI sued the FDIC/JPM for $307.2 Billion in DC Court. The Dual Track.
About $7.9 Billion came back to the Debtor estate. Then the FDIC’s response became; $299 Billion for WMB and it’s assets.
The numbers work.
The 41.6 Release for “Willful Misconduct”.
Why would JPM need a release for civil RICO charge as defined by “Willful Misconduct” language after being sued by WMI for RICO?
I have answered your questions more than you realize.
All the numbers are well documented.
AYA was just an immature gorilla in the Court room.
Totally out classed.
WMILT paid UW’s legal bills.
Ron
The UW Had a Legitimate Claim.
There wasn’t anything wrong with the Stipulation transition from Plan 6 to 7.
The Court was content.
Alice just made stuff up and you bought into the faulty allegations presented.
I didn’t.
Yes the UW’s are happy with 75% of the Retained Earnings, plus Performance Payments.
Just simple math/accounting.
The UW were just protecting their interests in their property.
Alice lost !!!
TPS is also happy.
$4 Billion claim is now worth $10 Billion.
:)
75/25% isn’t Global.
Ron
Now You Almost Understand The Charges To Exhibit H.
Reread your own post in light of the changes to Exhibit H between Plan 6 vs. Plan 7 regarding 510(b).
I have already addressed it.
You are a little closer.
Good job. Keep digging.
Please reread my posts for the last twelve plus years regarding the main difference between the two Plans.
I have been saying the same thing the whole time.
The 510(b) Pay Point shifted from before Class 16 in 6, to post Class 17b in 7.
Hence; The Equity Classes are now the recipients based on their ownership of their related assets.
DOCUMENTED !!!
Please see my reference to the reason why APR was removed in another post.
WANTS and EMOTIONS don’t override DOCUMENTATION.
75/25% is well defined and NOT GLOBAL.
Ron
Total Misunderstanding Of Your Own Citations.
Even Newflow posted how Plan 6 transformed into Plan 7 with little changes.
The Largest charge was the location of 510(b) in the change of Exhibit H from 6 ->7.
Understand Plan 6 …
More Proof that to many MBer’s don’t understand Either Plan, and the few changes.
Too blinded by 75-25% to the end.
I have already explained it !!!
Yes the February MOR Retained Earnings are in Treasury Notes as stated by Rosen in transcript.
The Court was satisfied that Class 19 was protected/guaranteed payments.
APR was removed so Plan 7 could pay Creditors and make distributions to Class 18 through Class 22 in cash and stock.
Please note that the Retained Earnings are never discussed in the Plan 7 February MOR for the Litigation Trusts assets to pay Creditors.
Class 22 owns 25% of the Retained Earnings and the property of WMI.
Looking forward to seeing 4.6X for my Series R.
Ron
Too Many Errors In Your Post To Respond.
Not my fault that you failed to keep up.
Ron
NOT MY FAULT YOU HAVEN’T BEEN FOLLOWING ALONG.
If you where up to speed,
Understand Plan 6!…
Exhibit H,
510(b).
Already PROVEN!
Ron
VERY EMOTIONAL RESPONSE.
Class 19 DOESN'T GET OTHER PEOPLE’s Properly !!!!!
!!!!!
Yes AAOC created a Liquidation Trust that the Equity Community requested control of the Liquidation Trust. The request was approved.
The Plan 7 LT is only responsible to pay Creditors.
DONE!!
The carry through of the AAOC created Trust was never openly discussed because it didn’t have to be.
Exhibit H; 510(b).
I have already explained the main difference between the two Plans.
Ron
Retained Earnings Will Satisfy Class 19.
75% of the Retained Earnings goes to Class 19.
Class 22 has satisfied Class 19’s claims in principle.
The money is safely in Treasury Notes.
Hint;
February MOR.
I have already explained Preferred Funding and Series R. Maybe K’s too.
The rest of the assets belongs to Class 22 of which I have already listed.
Ron
You Need To Read The Transcript.
PDF 150.
The Equity Community requested control of the Liquidation Trust during the the Plan 6 conformation hearings.
Yes a Liquidation Trust was created by the Debtor. AAOC was the impaired creditors and controlled the Debtors books and the writing of the Plan.
In Plan 6, the assets Liquidation Trust are never openly discussed, but referenced.
Example;
The WMI non-Debtors Subs are listed the same way in both Plans but we are never told were they went.
Very little changed between the two Plans.
Yes, earlier created agreements are carried through to the next Plan.
Just the Recipients changed.
As I stated;
510(b).
Please see Exhibit H of both Plans.
Trusts are used to protect assets.
Ron
The Most Significant Change Between the Plans.
Plan 6 -> Plan 7;
The location of 510(b) in Exhibit H!
510(b) was carried through from Plan 6 into Plan 7. The recipients of 510(b) changed just as recipients of the LT created in Plan 6 from AAOC to equity.
The Equity Community requested control of the Liquidation Trust during the Plan 6 conformation hearings. PDF 150.
That request was later granted.
Therefore there is indeed a Plan 6 LT.
Plan 6 LT hid the Sausage.
Plan 7 paid off all the Creditors.
The function of the Bankruptcy Court is to pay the Creditors.
Plan 6 LT holds 510(b), and numerous other assets that I listed.
Ron
Thank You Newflow For Supporting My Posts.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=172882461
• WMI’s performing Non-Debtor Subs
Yes there was two LT Trusts!.
Now there’s only one.
Plan 7 LT DE has completed its task. All Creditors are paid.
Plan 6 LT WA Holds all the other assets I listed in the linked post.
Ron
I Have already Proven.
Prove me wrong.
:)
You can’t.
That is why I asked the question in total confidence.
I know the numbers. The numbers are the truth embedded in the documents.
I win again!!
Example; 41.6. “Willful Misconduct”.
Why did JPM submit to Civil RICO with a “Willful Misconduct” release?
:).
I know the answers because they told us.
All documented.
Ron
Lights On??
Plan 7; Delaware Trust to satisfy all Creditors Claims regarding the bankruptcy proceedings.
DONE!
Plan 6; Washington Trust to hold the legacy assets as AAOC planed. AAOC lost.
But all Old released Commons shareholders own WMI’s legacy assets.
Ron
41.6 is a Guaranty Old Equity Receives Money.
• WMB and it’s assets is 41.6. “Willful Misconduct”. CX. C is Documented.
• Retained Earnings is another Guaranty.
• WMIIC ABS, the same.
• LIBOR adjustments for Trust held securities. Series R, Series K.
• WMI Functioning Non-Debtor Subs.
• Series R, K? Performance Payments.
• Other assets.
I’m confident in the numbers.
The numbers were memorialized in the documented process.
JHD, prove me wrong!
Ron
William C. Gallagher Agrees With Me.
2018.
:)
Ron
BBob, I Thing Your Timeline Is OFF.
Your ‘May have have an ownership change’ language was long before WMIH INC, WaMu-3.
That statement was part of the original reorganization.
WaMu-2, Holdings Corp is no longer the Registrant didn’t happen in 3-19-12.
Inc was created later, ~2018.
Yes IMO WMI Holdings Corp is alive and well and holds the Washington State Liquidation Trust and the other assets.
Ron
Are The Lights Coming On Yet??
I have said that there was two Litigation Trusts.
The Plan 7 LT was only for the Creditors.
DONE!
Plan 6;
The WMI’s FDIC WMB claim will be retrieved from the Washington State ‘lost and found’. Yes the Court room laughed at Rosen’s statement.
A resident Washington State LT just for that purpose, and to hold other assets just as AAOC created.
Another proof that 75/25% isn’t global.
The Retained Earnings are in Treasury Notes, and not in a trust. Preferred Funding is a trust that isn’t in a trust.
Ron
So One Poster Understood the Proof.
Both proven!
• ~2.5X from Retained Earnings. The 75/25% split held in Treasury Notes.
• ~2.1X from Performance accumulation of annual payments.
I have read the documents and done the math.
I have asked to be proven wrong.
Silence isn’t a proof!
Yes I’m right!!!
UQ owns the Debtor’s Estate.
I have already listed the basic assets.
You don’t like my numbers?
I don’t care!
Prove me wrong!!
Ron
Preferred Funding, The Proof of ~2.1X Performance Payment.
Yes I have proven two ways of Series R performance payments.
• Series R PPS pre-bankruptcy of~$1,300 and a payment data point I received from you (payment value and date).
I created a graph and added up the area under the curve for the total accumulation.
• I have posted the link to JPM Series Z of the exact same prospect family as WMI Series R.
Two interest payments and one end of year performance payment.
Yes Series R is going to receive accumulation of payments from WMI Preferred Funding.
My number; ~2.1X face based on two solid data points. Yes it’s an estimate, with good historical numbers.
Plus ~2.5X from RE.
Series K; LIBOR
Plus ~2.5X from RE.
TPS; Cashed out
Plus ~2.5X from RE.
RE; $20.78 Billion held in Treasury Notes.
UQ owns the Debtor’s Estate!
Other Assets;
• WMB receivership.
• WMIIC
• non-Debtor Subs
• Others
Some times we say the same thing using different ways/terminology.
Ron
CWG, Are You Implying JPM RICO 2.0?
JPM lost RICO 1.0.
41.6 is the proof.
In WaMu’s case, WaMu had the money to cover all claimants and did!
Derivatives; how to short a company to death with option contracts with fictitious money.
2008 JPM wrote 57% of the 83 Trillion in Derivatives.
As I have asked before and presented last year’s numbers for the total Derivative Market in Notables.
What is the current Derivative Market Notables?
Totally Staggering.
Ron
Retained Earnings.
“ Under the standard rules of corporate law, a company’s board of directors only has legal authority to declare dividends to shareholders when the company has retained earnings.[16] “
We WMI stakeholder’s have a declared dividend of +$20.7 Billion in Retained Earnings plus Treasury Note interest.
Current valuation; +$25 Billion, 75/25%.
Proof One
EC Class 22 needed by-in from the TPS Holders to cement Plan 7.
The TPS said yes to 75% of what was offered.
The discussion point during the court proceedings was the Equity Community Presentation, and then the February MOR
Follow the numbers.
Bankruptcy is all about the numbers.
Proof Two;
Class 22 is alive and well and controls the Debtors Estate because Class 22 proved to the Court that Class 22 would satisfy Class 19’s at better than 2:1.
The Court Approved Plan 7.
Class 22 owns the Sausage hidden in AAOC Plan 6 LT. AAOC LOST.
The Equity Community requested control of the Plan 6 Liquidating Trust. The request was approved.
The Equity Community couldn’t request and receive control of the a Trust if it didn’t already exist!
IMO
The reason why the money isn’t moving is because the FDIC has a ‘lien’ against WMI regarding WMB.
Purely procedural.
Yes I’m watching F&F.
The $50 Strike Price was about the Class 16, the PIER’s maturity price. This has nothing to do with WMI/COOP. Yes I read the document!
Furthermore it just doesn’t make sense!
Ron
On This Point, I Very Much Agree With BBOB.
My MB experience is so much more enjoyable by using the Ignore button.
I leaned along time ago that dialogue was fruitless with Lo, pk, nova, and a few others.
Ron
Yes That was the FDIC That Needed File Before the Statue of Limitations Date.
It’s the FDIC that is suing the Big Banks on our behalf and other ABS holders like us.
Ron
Even More Interesting!
3726
09/07/2023DECLARATION of Steven Straub in Support re: (849 in 1:11-cv-02613-NRB) MOTION to Authorize Exchange-Based Plaintiffs' Motion to Authorize Distribution of the Bank of America, Barclays, Citibank, Deutsche Bank, HSBC, JPMorgan, and Societe Generale Net Settlement Funds to Claimants and Reimbursement of Claims Adminis. Document filed by Atlantic Trading USA, LLC, FTC Futures Fund PCC Ltd, FTC Futures Fund SICAV, Nathaniel Haynes, Metzler Investment GmbH. Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-02613-NRB
Also see 3725-3723.
Important terms to watch for;OTC, CDS, CMO…
The point is that all the ABS investors are being paid by the big banks for their LIBOR differential in interest rates in the Litigation.
We, WaMu are in this same boat. The FDIC is litigants on our behalf. That is why you’re not going to see our name mentioned.
Any and all LIBOR resolution is good for us.
Every settlement creates a precedence for the next case’s settlement.
Ron
Yes, Class 17A Understood 510(b).
The Plan 6 LT was created to hide the Sausage, but the plan for Class 16 to steal the Sausage wasn’t implemented. Insiders Trading issues.
If you understand the Plan 6 LT you will understand 510(b).
510(b) was in both plan 6 and 7, but moved to a different location.
Exhibit H!
What is in 510(b)?
I have told you;
• The WMB Notes are JPM’s responsibility.
• The WMB Receivership. I have posted their numbers. WMB and it’s assets!
• FDIC/LIBOR ABS/CDS/CMO Settlements
• WMIIC which is connected with FDIC/LIBOR.
• Other assets.
510(b);
> OVER FUNDED CLAIM <
JPM must pay.
Class 17A and their attorneys are awaiting payment plus back interest!
Ron
What Happened To Class 17A?
The FDIC is still showing ~$14 Billion for WMB Notes on the balance sheet.
Therefore Class 17A hasn’t been paid either.
Ideas?!
510(b) ?!
:)
Ron