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500 million out of the money?
So as the Examiner has said, preferreds are out of the money by 500 million $, right?
Without a correct asset valuation, does anyone doubt there will be plenty more than 500 million $?
What an Examiner joke / shame.
But my feeling is that the 46$ shares peak was made by a joker or something like that. They were what? 10 shares and 20 shares total?
I thought someone was artificially trying to drive the price up.
Thoughts?
Anyway, 12% PPS rise is very very welcome. Hope to see the same in the next days.
Hello Mordicai, can you educate why 250$ ?
As the current DS leaves 0%-1% return value, how did you get that number?
TIA and thank you for your comments.
No voting = accepting the DS / POR
Hello, this is my first message on this board, as I come from the WAMUQ and WAMPQ boards.
I've been following this DIMEQ share, and I noticed it's lately increassing PPS even though WAMUQ and WAMPQ are dropping.
I thought shifting some of my WAMPQ shares and now I regret it (for not doing so). If I would shift a week ago, now I would have increassed my investment 20%, and now I could afford to buy 40% more WAMPQs.
Nevermind.
The question I would like to make is: what's the 'target price' of this share? For example, preferred shares are valued at 1000$ full face, what would be DIMEQ full face value?
I think I have read it was like 9.95$ but it's expected a return of 1.2$, just wanted to make sure.
TIA
It's a SHAME that two years later nobody has a complete list of what was actually selled. I cannot believe it.
And FDIC claims it's a scriveneer's error?
Someone hasn't done his/her job and should be fired inmediatly. I want heads rolling.
GOOD LUCK EVERYBODY (except Brian Rosen -> I desire a stomach ulcer for him)
So, today is one important day.
In theory, the scum DS presented by OUR attorney Brian Rosen is going to be decided wether it's aproved or not.
I said our attorney because as Wallrath stated in Court, Brian Rosen is suppossed to represent us all Equity holders and try to do his best to maximize the state value.
So, if there are no big deals, this DS should get aproved... YEAH RIGHT!!
First someone should explain us:
1.- Why debtors don't show real value or no value of almost all of the assets we know were gifted to JPM
2.- Why debtors had the idea of creating an escrow account with JPM and FDIC to put IRS and Treasury billions there, so that they didn't have to account those moneys.
3.- Why debtors are giving away claims worth billions, if they were suposed to maximize the value of the state.
4.- Why debtors are complaining that not aproving the DS now could put in danger ongoing negotiations with JPM and FDIC(can someone explain me what could be worst than getting ZERO in a claim?)
I would like to know why this sudden hurry, when we are to see the Examiner report in a couple of weeks.
If debtors would cooperate, there would be no need of Examiner, and the state would have saved some moneys. Now I thinks it's a little bit late folks.
What makes me a little bit worried is what Walrath said about paralellizing both the DS and the Examiner issues. Even though she would wait for the examiner report to be voted, if she aproves the DS I would feel like drifting with my car in a road on the border of a cliff.
I just hope for some kind of justice.
Lawyers like Brian Rosen are a shame. He should loose his license for trying to deceive so many people, including shareholders -his clients-, THJMW, and being able to represent a shame POR full of lies.
My hat off.
Very short, very clear, very straight forward.
Thank you very much.
Last December 17th we had a similar pull back.
From 40$ it dropped to 29$ and the KABOOM!! to the 100$.
Google Finance
Is this why P's had a run this past two days?
Insiders should be investigated...
All four wamu classes have shorts.
Just check the latest finra short list and you'll find wamuq, wahuq, wamkq and wampq.
Cheers.
Hohoho 38$ at ASK.
Who would be so fool to sell shares at 35.6 when the BID was at 37?
Hmmmm
Hi Zilla.
I think the first signal should come from preferreds, since they are the first one in the payment line. The day they jump to hundreds, we will be near some interesting event.
Actually, I don't understand how these prefs are not at higher PPS as they are partially in the money (and if no taxes were gifted to adversary parties as the scum BoD pretends, they would be fully in the money).
The sooner one hedgie realizes this fact, the sooner PPS will increase and shorts will also have to start covering.
Hola amigo.
It looks like it could be a good day for prefs. Now commons are getting a punch in FF but I do not quite understand.
If prefs are going to get more with this POS POR V.6 (2% to 10%) than they would with the previous one ( 0% = NADA) , common sense tells me that common's PPS should go up (prefs getting more money = commons get nearer to being in the money) not down...
Any thoughts?
Please, can you educate your post?
I'd like to know how are you making the calculations.
TIA
Hi, can you share your thoughts? TIA[EOM]
Hello, can you give us a tip on what do you see?
TIA
Hello Chaarles!!! Nice to meet you here!!
What's your reading of all this stuff?
It would be interesting if you could explain a bit more about how do you think this is going to finish.
Last year I did my DD during 3 months before deciding to invest here.
THJMW appointed an EC due to exigent circunstances. Also didn't see the debtors 'hopelessly insolvent' (literally) as they claimed to be.
After that, and seeing no cooperation from the debtors she appointed an Examiner.
After that, she gave the examiner full subpoena powers.
This is heading one direction: the discovery of the truth.
Otherwise please illuminate me answering these questions (just for starters):
- How can FDIC seize WMB without paying a cent (common sense tells me WMB was solvent).
- how can JPM buy WMB from FDIC for 1.88 billion and expect 4 billions of cash assets + a couple of billions more from tax recoveries (NOLs) which they are in no way entitled to receive. I myself would pay 1.88billion for a rotten tomato if I could get those monies also.
- how can JPM/FDIC claim there is no 3.1a list of assets sold to JPM?
- How can a public entity like the FDIC not provide crystal-clear information about the transaction and show completelly blacked documents (what the heck are they hiding?)
- How can WMI debt (a bankrupt company's debt) be paid over 100 cents/dollar. Specially if WMI is insolvent.
And I am not asking more sensible questions like:
- Project West
- No short list
- Bank run and shorting to death issues
- Seizure on thursday the week before TARP got aproved
This whole case stinks, and I am sure Mr. Examiner will find out the truth. I think it's not that difficult even though you have in front one of the most powerful companies of the world.
Is WAMPQ PPS being manipulated?
It's funny.
Since the appointment of the Examiner, or since the day the Examiner has been given full subpoena powers, preferreds PPS seems to be 'locked', closing usually in red.
Good news boost common shares (WAMUQ) but has no effect on WAMPQ.
If you check last 3 days performance between WAMPQ and WAMUQ, you see a PPS increase of 4% for preferreds and 31% for commons.
http://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=maximized&chdeh=0&chfdeh=0&chdet=1282209561766&chddm=1929&chls=IntervalBasedLine&cmpto=PINK:WAMUQ&cmptdms=0&q=PINK:WAMPQ&
If you check last 3 months performance between WAMPQ and WAMUQ, you see a PPS increase of 16% for preferreds and 82% for commons.
http://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=maximized&chdeh=0&chfdeh=0&chdet=1282209275799&chddm=25024&chls=IntervalBasedLine&cmpto=PINK:WAMUQ&cmptdms=0&q=PINK:WAMPQ&
Actually the market thinks that preferreds are going to see just a 3% recovery. Do you guys think there is going on some kind of price manipulation?
If prefs don't move, just a number (II) IMHO
I don't think FDIC can claim JPM to pay whatever they want.
Probably when they made the 'first payment' (if they ever did it) they introduce some kind of clause stating the total maximum amount to be paid. I humbly don't think lawyers (crook-lawyers) are the type of guys tht would leave open doors left behind.
I personally wouldn't sign a contract or make a payment without knowing the total amount I am going to pay, or an estimated amount.
But no way I am going to pay 1,000$ for a car if there is the slightest chance later that I am going to be asked to pay another 100,000$ or return the car.
I wish it could be true and JPM could be forced to pay an aditional 188B (I also doubt they could pay it anyway) but I don't think those lawyer where so blatant stupid to sign such a deal...
With these kind of new though it think I might start shortening JPM...
WMI.F WASHINGTON MUTUAL 09:21 0,141 UP 0,005 € 3,68%
http://es.finance.yahoo.com/q/cq?d=v1&s=wmi&m=*
You are welcome
Hi Chaarles. I'm also 'hasta los cojones' (like Palin would say) of this scam.
I'm having a hard time convincing my wife to hold on this investment, although I am confident that this is going to turn at any moment.
I think there are too many stinky issues in this case to let us (shareholders) out in the cold, out of the money.
Recently I posted on Y! this:
Layman questions:
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_W/threadview?m=tm&bn=86316&tid=528153&mid=528153&tof=121&frt=2
OK. I am no law man, so I have some very simple questions.
1.- How can JPM buy WMB for 1.88B and expect to get back a lot more than that in cash assets and tax refunds. It's like buying a Ferrari for 1,000$ and expect the owner to pay you back 5,000$.
2.- If I purchase a car/house/whatever there usually is a contract/receipt/bill of what I bought and how much did I pay for it. I cannot believe in a multi-billion dollar purchase dealing WITH A GOVERNMENT AGENCY there is no such proof of deal. The 3.1a missing? Yeah right... then MAKE IT!!! I cannot believe this Wamu seizure/sell is not documented anywhere.
3.- FDIC seizures failling banks. OK, I understand that. Average cost for each seizure is about 13% aprox of the total purchase amount.
My question is: howcome FDIC can seizure a bank without putting any money in? My understanding says then it wasn't necessary to seizure that bank.
4.- FDIC seizures failling banks(II). OK, I understand that too. How are FDIC entitled to recover one single penny in tax returns if they first didn't pay anything?
God, in a real-man's-world it's so easy to see something's wrong... those crooks miss the point so much they see these stinky issues as normal when they're not.
Just expect to see the Examiner getting to the truth in this deal.
GO EXAMINER GO!!!
My 2 cents on the AT&T issue.
I remember sometime ago AT&T filed a sealed doc to the Court.
Then, we thought it could be because of commercial issues, to avoid competitor companies to know the terms of the (commercial) deal between AT&T and Wamu.
They couldn't be paid in any way since we didn't see a payment order signed by THJMW. Thus, I think AT&T fears that the Examiner putting his nose on the terms of deal between both parties (Wamu and AT&T) might find something, lets say, illegal, that could put them (AT&T) in trouble. Because of that, they would give up pursuing the payment, and at the same time, avoid any trouble.
Just my 0.02$
Hope you're right.
We got Examiner -> PPS went down.
Examiner got full subpoena powers -> PPS went down.
I hold my shares just because I trust the DD done, but this is hard to understand (or make the wife understand).
+7.64%
Yesterdays close: 0.182$
Now 0.149€ = 0.195905$ (acording to XE.COM)
+7.64%
Please someone delete my previous message.
Didn't want to cause any harm.
Please, could you teach me how to read that info then?
Thank you very much in advance.
WAMPQ shorting yesterday under 25%, MMs afraid?
http://regsho.finra.org/FORFshvol20100809.txt
20100809|WAHUQ|100|100|O -> 100% shorts
20100809|WAMKQ|26793|54863|O -> 48.8% shorts
20100809|WAMPQ|4084|16615|O -> 24.6% shorts
20100809|WAMUQ|1847475|7134914|O -> 25.9% shorts
It's interesting to see the drop of preferred shorting from recent days 80% to yesterdays 24.6%.
ff funny unusual trade activity
Last week it was just flat and it was rare to see trades over 100k.
Let's see what happens in US. It could be Examiners work plan looks good.
The $0.1565 low was an MM's shake. Can't you see the peak?
I wonder, where is the pps limit?
Today we pierced the 30$ barrier. Are we heading to 28$? 25$? 20$
Guys this is insane. Do you really think preferreds are going to get less than a 3% recovery?
I don't.
I hope this settles sonn (before the examiner is appointed)
Dude, girls from Bilbao are tough ones... good luck!!
Is this scenario feasible?
Just wondering.
Rosen gives the EC some of the requested docs (to demonstrate to THJMW that he is cooperating with the EC) and also arguing that he is getting the Objections solved has the DS aproved by THJMW.
Could the Judge say something like 'I hope that most of the objections are solved for the time of the voting'?
Could that be possible?
Happy birthday Chaarles!!
Is Rosen a liar?
While listening last Hearing's MP3 I heard Rosen having a discussion with a lawyer (trust preferreds attorney maybe?). I was in bed almost falling asleep and then heard the discussion about this attorney wanting to know how to express to the Court some objections he had with the last revision filed by Weil on June 3rd (since the objections only could be filed until June 2nd).
Anyway, the attorney first declared he had some words with Rosen just before the Hearing, and Rosend denied it, so the attorney said literally what they were talking about and suddenly Rosen recovered his memory.
I would like to hear that part again but didn't find it, can someone tell me the min:sec of that moment?
Did Rosen lie in front of THJMW?
We are almost all in the same ship.
Good luck all and MAY JUSTICE PREVAIL.