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.10s going above ask weeeeeeeeeeeeee
.105 will be resistance that we need to break
who is MITR
greennnnnnnnnnnnnnn
big buys at ask
not alot of shares left, ut on low volume now
someone needed lunch money today
going to lose the 5 billion to WAMUQ
.105 providing resistance last two days
exact same email response I got friday
volume really slowed down, traders much be at columbus day parades
could be why JPM down
markets turn red by end of day imo, sellers into the rally
mm trying shake hard maybe news coming
getting ready to load truck
nice reversal this morning
not crazy but smart
wachovia deposits not wamu
close my position CJCVE at 4.40 I know it wont win contest but looks good, wasnt going to catch 700%
my L2 went down how many on b/a
big blocks at .10 not good
guess no wants it
its going to take some news to get this going again imo
lot of sellers today
couldnt resist adding down here
orders going off at .16 good sign
markets going to be ugly tomorrow, dow futures down 175
Washington Mutual, JPMorgan May Fight Over $5 Billion (Update2)
By Steven Church
Oct. 3 (Bloomberg) -- Washington Mutual Inc., the bankrupt holding company of the biggest U.S. bank to fail, and JPMorgan Chase & Co., the bank's new owner, agreed to delay any attempt to withdraw a disputed $5 billion in cash from the institution.
WaMu attorney Marcia Goldstein told U.S. Bankruptcy Judge Mary Walrath in Wilmington, Delaware, today that her client owns the money. Goldstein said that both parties would give two days notice before trying to access the funds, allowing time for them to formally ask Walrath to intervene in the dispute.
``There was a fair amount of chaos, frankly, Thursday evening,'' Goldstein said, referring to Sept. 25, the day before WaMu's bankruptcy filing. ``We are trying to work with JPMorgan to resolve any remaining confusion.''
The holding company sought court protection after its banking subsidiaries, including Washington Mutual Bank, were seized by U.S. government regulators and sold to New York-based JPMorgan for $1.9 billion. The $5 billion in cash is being held by Washington Mutual Bank, which isn't in bankruptcy. Banks are barred by federal law from seeking bankruptcy court protection.
One of the first actions by JPMorgan after taking over WaMu was to deny the Seattle-based bank holding company access to the computer systems of its subsidiary bank, Goldstein said.
Service Contract
JPMorgan attorney Hydee Feldstein told Walrath that her client is trying to work out a service contract that would allow WaMu's holding company access to the thrift's computer system. Feldstein didn't immediately return a call seeking comment on the 48 hour withdrawal notice agreement. Thomas Kelly, a JPMorgan spokesman, declined to comment.
Lawyers for WaMu bondholders and its former bank have said they may lay claim to the cash.
Bondholders of the bank may challenge WaMu's claim to the cash, said attorney Evan Flaschen of the Austin, Texas-based law firm Bracewell & Giuliani. Bracewell has been hired by bondholders who are owed money by Washington Mutual Bank.
The bondholders want to know why WaMu, if it controls the $5 billion, didn't use the funds to support its operations in the days before regulators took over, Flaschen said.
``There is going to be a battle royal over whether the bank is entitled to have access to that cash,'' said distressed-debt analyst Matthew Dundon of Miller Tabak Roberts Securities in New York.
Washington Mutual Inc.'s 5.25 percent bonds due in 2017 fell as low as 61.25 cents on the dollar, nearly 3 percent, before rebounding to 63 cents as of 12:08 p.m., according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.
lets see an updated contest standings
the old RBID underwent r/s --careful
everyone also thought Citi/WB was done deal guess not and there were rumors yest and stock didnt move much
never know but agree seems far fetched
4th time at .145 hope this time it goes
3rd attempt at breaking .145
.125x.13 with 40k bought .13
havent found anything
someone buying last two days
nice consolidation
L2 .15 (1) x .15 (2)