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.
Exactly Bob. She posts for our benefit. Certainly she doesn't have to and has nothing to gain by posting on BP. But she is a lawyer and is trying to impart some knowledge. She may have her ways, and she may or may not be right in her predictions, but people need to give her credit for her time and effort. I like her positivity, not only because I want escrows to be paid, but because she is trying to help people. Let's hope she is right. 8-10 par would be great. Frankly I'd be happy with 1 par!
Just like AZ, Ron, and the others who do DD and give their theories to try to help and dig into this mess. We shall see who has the last laugh in this saga.
We will know something soon. Pity those here who didn't release and are bitter. You know who you are. :)
Mother Mary comes to me, speaking words of wisdom, let it be, and pay the escrows.
Beautiful coattails.
How many boiler room boys work this board?
I'd say there are about 6. Too funny. LOL
LOL! IT depends how reliable you feel the source is.
Obviously she felt the source was solid. Remember she has worked for JPM in the past. I'd say she is better connected than you are. LOL
Who do you know, lodass? LOL
I guess you don't understand what a source is. LOL
I'm sure investors are factoring in 2.5% coming soon from the WMIH $$$ to come. That's significant and likely one of the main drivers for the runup in the last few months.
Goodie, BP says 80-110B coming to us from the LIBOR settlement.
While that would be great, imagine if we only got par from 10B. I think that would be life changing for most. Let's see what happens.
Certainly Dimon would be thrilled, so it would take the heat off him for bank payment....which he has to date only paid 1.88B on as an administrative fee. Not sure Bonderman and the boys would let him get away with that!
She tries. We only have to be right.once. What have you done other than pout in your mommys basement wishing you too own escrows? She's a bankruptcy attorney and your credentials are pizza delivery driver.
LOLOLOLOL
I guess you don't believe in LIBOR huh?
Sorry, but it's reality. Even if you don't think the other money will come back to escrows, LIBOR is undeniable. It's reality, and ongoing as we speak, heading toward settlement and conclusion.
As bop said, "Someone has to be stupid also to believe the FDIC will not receive a recovery of scale."
So, yes, I guess you are.
No back door agreement possible.
The hedgies did not get paid. This is craziness. It would only take one employee to blow the whistle on a deal like that and those involved would be in prison. No way do wealthy guys take that chance.
They must be pissed that this took so long but they never sued yet so do the math. Its coming soon and they.know it.
As for us, remember what Mother Mary said......
Coattails.
Why all the redactions and sealed docs in the BK court unless they had something to hide. If this doesn't get paid out the hedge funds lawyers will be on this case like a pitbull on a poodle.
Correct goodie. Our suit is the FDIC suit, which likely will be massive when settled. We will get the largest % of that group's FDIC settlement. Amount TBD.
As I've said the smart board feels our portion could be at least 80B. I think that's a stretch but we shall see.
Your boss will pay you your 15 cents for your post. Good job! LOLOLOL
waytogo, I'm not sure what the amount will be.
But I agree that even if you don't agree with escrows or assets value returning, the LIBOR case is the real deal. Look, say we get screwed and don't get asset money, bank payment, mineral money, DCR, etc., LIBOR is ongoing and is not some fantasy. How much will we get from LIBOR who knows. But WAMU is the biggest of all in this LIBOR case and they saved it for the last group. The smart board thinks from 8-12 Par coming to the estate (us). While that would be great, I deal in the real world, a world that is a corrupt world, and our country which is now a banana republic. So I hope 8-12 Par is right. But the reality may be be closer to 1-2 Par.
Nobody knows until it happens. Could be VERY soon unless it goes to court, which will drag it out for months yet. I say they will reach a settlement soon. We shall see what happens. Nothing is certain. 15 yrs of agony may be coming to an end.
I wish all our escrowers and WAMU employees good luck as this thing winds down. Let's hope justice prevails. One word that comes to mind for our security in this mess.... COATTAILS.
LOL. Oh yeah, I always attack other people for their stock ideas.
Duh. Like I have nothing better to do...
Par is 1000 per P, 2 per Q.
Are they the escrow police? What gives them the right to attack and disparage others for their ideas and theories. Who the f are they? Get a life. Such losers.
Bob, say for instance COOP buys assets and issues us shares for what they buy.
Many will bail and sell because they are desperate for money now. So they take the $60 a share or whatever it is. But if they hold, in a month or two the share price goes to $100. Could happen. I may sell some but hold as much as I can. The big boys will wait it out and buy all the cheap shares they can from anxious sellers, knowing that next year the economy will soar if a new administration straightens out this economy and int rates come down.
Could be. I tell people to just sell what you need to because the values will increase. Say we get Par from Libor. But if we hold on to them, it could soon be valued at 2 or 3 Par....that's a big loss if e sell too soon.
I think the best thing when payment happens is sell what you have to and hold as much as possible. Also if assets are paid in shares which is possible, the shares will increase greatly over time.
We'll just have to see what happens. WMI does not have to pay us in cash, so it could be shares. Hard to say what's going to happen. Ps could be issued new preferreds.
As for Libor, that could be sent to us as a check in the mail, not into our broker accts. The LT markers may be gone, but they have the complete list of who we are in their records, so don't doubt that.
So many possibilities.
Let's hope we get paid! Been a tough 15 yrs.
It's a technique that these paid assassins use to try to discourage people from posting who have positive views on escrows. Wish I knew who was paying these people. Or maybe they are just JPM investors worried that the payout will tank their stock.
So now the mods allow name calling and harassments huh?
Yeah sure you did. LOLOLOL
LOL. To each his own...speaking of own....you don't own any. Pity the fool.
If your escrows were in an IRA, then the shares or cash would also go into your IRA, and taxed accordingly when cashed in/withdrawn as LTCG. Not 38% ordinary income. Remember we filed W9s so they will likely withhold 28% on any distribution. Then when you file for LTCG you will be refunded 8%...or 13% for the first $450K. Who knows for sure how that will be handled. But the IRS will get a ton of the money so that's also in our favor because they WANT us to get paid so they too can get paid. Win win.
Some say this settlement money is non taxable, like an insurance settlement. But I'd bet the IRS will argue otherwise.
COOP will be a behemoth. Remember WMIH is COOP. So when it gets the 2.5% from the estate settlement it will blast off. Plus if they buy WMI assets once released after Libor we could all get huge amounts of shares in the deal. Maybe JPM shares also. WMI does not have to give escrows cash. It could all be shares. New preferreds will likely be issued for the old Ps. So many possibilities. If there is a new administration next year and mortgage rates come down, the economy and house sales will soar and so will COOP.
The future looks good. AZ is right...imagine if we had all bought COOP at 5 bucks??? Oh well. Still plenty of upside if all those things happen.
From bop on LIBOR: "Someone has to be stupid also to believe the FDIC will not receive a recovery of scale". Also, WAMU escrows will receive over 90% of the next settlement in the 20 bank group due to size of loss. Bop: "As I said, $400B is out of the question, but $100B to $150B is not. That implies $90B to $135B would head to WMB's receivership."
I hope this gives you some comfort on this Sunday. I understand your angst and skepticism! All we can do is wait and see how this all plays out. But after 15 plus years there is still hope. My guess as I've said is much lower. But any recovery now would be welcome! Par would be beautiful. Don't get greedy. It's a corrupt world so we'll take what the corruption will give us at this point!
Look, we all have our theories and opinions. That's great. Since we haven't been paid yet, it's easy to say nothing's coming to us because it hasn't. But we only have to right once, right??? So let people give their theories. If they are right once, and you released and own escrows, you'll be their new best friend.
Personally, as a realist, I don't believe we will get $600B, though I do believe we are entitled to it. But certainly 10-20B is within the realm of possibilities. Libor settlement alone could do that much. Relax and let this play out son.
But what does First Rep have to do with WAMU?
This is just for Libor. Assets come later.
As bop stated, even if you don't believe in assets, the Libor case is a reality. Wamu was saved for the last group because the numbers are so large. How much will we get is the question. My guess is .5 - 1Par. Being conservative. Could be 10-20K as bop thinks. Who knows???
Lehman has nothing to do with ours.
That was a law suit. Different animal. But, we are close to LIBOR money, which will be considerable. Bop says 10-12Par. I have my doubts. But even Par will make most here happy. Hold2 says it will be more than Par. Could be. Let's hope this doesn't go to court and just settles. We could know mid month.
Dollar collapsing, buy silver. Easy double. Very worried about the dollar....
Dollar collapsing, buy silver. Easy double. Very worried about the dollar....
Tiger. We've all struggled with this mess for over 15 yrs.
Its certainly understandable to feel like you do. Are we entitled to payment.....yes! But this country is a joke and very corrupt. When I start feeling dubious I reread the numbers in the filings, think of the UW sending lawyers to bops hearing, and the hedge funds who lost billions and expect restitution to come or they wouldve sued long ago.
So, as I put on my psychologist hat Id say its a bit unfounded for you to throw in the towel until we see what happens with Libor. We should know anyday or if a trial, then early 2024. So hang on for a while. IMO.
That was all a PR stunt to make the LT look like the good guys.
Yes this is the final Libor group. Unless this goes to trial we could finally see a settlement. Then the receivership can close and our asset money can flow etc.
I am concerned about the 3rd world corruption, but I have faith in the coattails we ride on.
Pray people. We could finally see the end of this mess soon.
Yes it sounds like Libor is holding hearings this week. If so a settlement could be proposed. That doesnt mean we get paid this week. But it may be soon.
I say the lawyers muck it up to milk it into next year because thats what lawyers do.
But we are close to some resolution.
Could be a merry Christmas or a happy Easter. Or both.
No doubt in my mind escrows should get paid.
The question is will the corruption allow it.
My guess is yes because of the hedge and UW. They know whats coming or they wouldve sued long ago.
So will it be this year? Maybe this week will begin the Libor closing. As hold2wm says, Libor alone should give us over par.
Then the receivership can close and the big money can flow.
We should know more soon.
Libor may conclude next week some are saying.
My guess says no.
Stox nobody knows. Could be next week. But if it goes to trial could be months. You know lawyers always try to drag things out to milk a case!