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Big buys coming in!
Of course they are. Its been confirmed.
twitter: @WaMuAudio and @Was_Mutual eom
Its the final beating. Fear not.
And i chime in as well and raise my cup of (already cold) coffee to all the longs (and go quickly outside and have my umpteenth cigarette of the day)!
The anticipation is killing me right now.
No, its part of the anticipation. And as we are saying in germany: Anticipation is the greatest pleasure.
I know. I am a lawyer myself. =)
Awesome!
Thanks for the effort. That is highly appreciated.
If you look at the billed hours and fees you can clearly see that this was a major task in december. The details start at page 118.
And Rosen said at the march 4th hearing those talks have gained momentum over the last few days. They must be (or have been) really close to finish that deal.
Boy, now i am excited!
Thanks again, mmafr.
As of today the creditors wont get anything (or only get little), because A < L. Handing the money to WMI is the only way that creditors get their money back.
In a legal sense the parties are JPM, FDIC and WMI.
JPM and FDIC want out of the litigation. If they pay WMI (enough), they can get out.
Everything after is between WMI and the rest (bondholders, creditors, equity, etc.).
This is just my take on these matters. I have done more than 200 settlements in court over the last 3 years. German courts, that is. In the US things may be different and i could be wrong.
GLTA
You're in.
I for one think that the money of a possible settlement will be directed first to WMI (as an entity) itself, not to the shareholders. Therefore you might even buy shares after a settlement is announced and will participate, but the pps will be much higher. My guess is that a settlement wont state a price per share but a sum of xx billions $ which then will be divided amongst the parties (equity, bondholders, etc.).
All imho.
Almost no trading, compared to the previous days and weeks. Everybody is waiting.
Yes, EC is upping the ante.
More pressure on JPM?
Lehman Prober Reports on $639 Billion Bankruptcy
The picture is taken from the document. Its the top of the first page.
Everything else is just my opinion, my view, my take at this.
I recon the news of the cancellation of that monday hearing has reached the big guys.
And if bought on a full moon.
Cash will be handed over by JD himself - but only in exchange for the real pink sheets.
Which means a Global Settlement has been reached and all claims will be dropped. imo
GREAT!
Its the hearing for next monday that is adjourned "to a date to be determined."
You wont need that hearing if a "global understanding" is underway.
Settlement here we come!
I would like to see the daily numbers for Tuesday.. We had over 140 Mil in volume on that day.
I did yesterday. Its too good a deal to miss it.
"here's your money for the final part of the acquisition".
He is in the pokey till end of march (22th or so).
back2topic: WAMKQ and WAMUQ advancing strong. Too many peeps wanting in, no wonder at these pps.
What an opening! But this time i was prepared. Loaded up.
I'll be smokin 2 packs today, thats for sure. I am looking forward to the AH, smiling.
glta
They do have market makers in Frankfurt, but (mostly) these are different companies than in the US, e.g. there is no NITE in FFM.
Everyone should watch this video once in a while to get the bearing Straight. I like the fact that the correspondent states that WaMu was capitalized-ok and expects JPM to pay 10 Billions. Both statements are a gross understatement as WaMu was well-capitalized (well above the recommend Tier-1) and by all means worth more than 20B $ (even with all the toxic assets). That being said JPM got WaMu for 1.9B $ WITHOUT any debt.
If they get away with that you don't wanna own any stock. Its better be gold, guns and à lot of ammo.
Here You go:
THJMW: Good afternoon.
Rosen: Good afternoon, your honor. Brian Rosen, Weil Gotshal & Manges, on behalf of the debtors.
Your honor we have a few items on the agenda this afternoon. Uh, I would like to make an announcement, uh, as we indicated to the court, uh, before this. Two items that were on this morning's calendar, now this afternoon's calendar, were the FDIC motion for relief from the automatic stay, what we refer to as the 9.5 Motion, and also what we'd hoped for was the court's ruling with respect to Summary Judgement, with respect to the turnover action.
Your honor, I can report that, the parties, specifically JPM, FDIC, and the debtors, have been in dialog over the past few weeks, and that has accelerated over the last few days, to try and resolve the issues that are between the parties in the respective litigation, and there seems to be some momentum associated with that.
As a result, both JPM and the FDIC had asked the debtors to adjourn today's hearing, and the the debtors, initially your honor, were reluctant to do so, and our creditor constituency was equally reluctant to do so.
However, out of an accommodation to both the FDIC and JPMorgan, to allow them to do some additional due diligence, the debtors are agreeable to a one week adjournment of both the 9.5 motion and hopefully a ruling with respect to the Summary Judgement, and we have been able to gain the consent of the creditors committee and our creditor constituencies to that one week adjournment as well.
So I would ask the court at this time to adjourn both of those until next friday. I understand from the court that there may be availability at 11:00AM next friday, and we would be prepared to go forward, and expect to go forward at that time, unless there was a global understanding between the three parties, and we would hope that the court at that time would render a ruling with respect to the Summary Judgement and make a determination with respect to the 9.5 motion.
THJMW: Ok, anybody oppose that continuance request? All right, we will continue it.
He wont be there, but its worth the journey anyway.
I have not seen any recent postings from the EC regarding protection for commons and negotiations for on behalf of commons.
I'm not superstitious, but i'll take that for a good sign. =)
"Cash Bank" - Nice Freudian slip.
The Debtors would have to approve another delay, since everything is written down and discussed over and over again. And THJMW is ready to rule.
I doubt that the debtors would agree to another delay (Rosen said that the debtors were very recluctant to this first request of a one week delay).
Its do or die for JPM and FDIC.
W00T, W00T! green again. eom
I second that.
But nevertheless these 2 trading days till friday will be ruff. I recon that the shaking wont stop till thursday market close.
Agreed. The decline in germany starting at 10.30 am is based on a rather low volume. Therefore my best take would be that these are rattled retail investors, who still dont know what happend yesterday.
The boards over here in germany are in great mess. Nobody knows anything, a lot of yelling and cursing, but no clue whatsoever. They lost their focus regarding the upcoming events on friday. Sad, but true.
Cheers from Hamburg,
maekuz
139.8M shorts today? Did i get that right?
Im in with 3x my monthly salary and my shares went red, but i held.