I like the way you think.

Looks like someone sold too soon.

I think it was fsshon that has been telling us for a while that the EC/SG has been looking for a buyer of the reorg company. This looks to be on that path.

Unless there are bigger fish to fry like JPM. But depending on the settlement in talks, I would say that isn't very likely given that there is 25 mil for fees.

Do you think SG would take that on contingency?

After months(years for most) of hanging around it is hard to think this is happening. But you and others have been speculating to the positive side of things. Again, from SG and crew we have come to expect silence as not to tip their hand. There are still a negotiations happening and will happen as we go further.

I would expect SG to continue to be silent until there are signed docs from all parties and the Judge has slammed the gavel.

I would say a POR denial and Depos on the HFs pretty positive occurrences or news that was led by the EC.

More news would be nice.

I was joking but it looks like are.

It's Complicated....did we go with BDO

After the thousands of objections generated, maybe they haven't gotten to the EC objection yet.

Math isn't my strongest area

I had to go back and look at face value on Ps. My mistake.

Where are you getting 70X?

William, with this scenario, how long do you give it before the halt of the stock and the added $$$$

If Bopfan's message was so on the mark, why aren't the preferreds doing better? it appears all classes are down so far.

Looks to me like JPMC bought a viable company!

Imagine that!

I agress but you know how BR can be. Gives him something to look at and say, 'See this is what the other shareholders are happy with'...I am holding out for SG to do their work.

I read the bio again. I have faith they are doing what needs to be done.

The one thing I hope this settlement doesn't do, is set a priced for the BK as a reasonable settlement for the rest of us.

Has anyone been able to put a definite value on the WAMU acquisition in the recent JPMC earnings? Reason I ask is what is the exposure or possible settlement if they did decide to pay for WAMU rather than 'steal' it at 1.8 billion. If they were able to profit off WAMU for the last 2 yrs and there is settlement talks, why not pay a % of what they have earned in the last 2 yrs. Just a thought. This might get close to a number?

I am not sure if Ben is a drinker or if he will be in Vegas, but if both are true, he will never have to buy a drink or dinner.

Cheers Ben Mason

For real? Does he think this links to Susman's email?

We all had to know Rosen would continue with his same line of logic. After William48's Great summation of events both transpired and to come, why would the tone of our board change. We know Rosen is going to undervalue this company at every turn. By his(Rosen) actions, I think the team behind him has fortified him in continuing what he has done the last 2 + yrs.

Think about it: Last week he was asking for PJSs valuation. Then today he comes out confident and proposing the new DS and a rescheduled confirmation.

Why the quick change in 7 days?

How does this affect the current BK case as it currently stands? I can see issue in the suit the FDIC is bringing in another court. As it stands the Blackwater objection and insider trading look like the best hope with the LIBR.

Could this trigger a settlement sooner rather than later?

Why does everyone keep explaining this to austin01. He has been told more than once. EOM.

I saw that too and was thinking the same thing.

Thanks UZ. I posted the Midway article yesterday along with the outcome. There were two links. I added the second here so people can see there is justice.

www.next-gen.biz/news/midway-creditors-settle-with-mark-thomas

Here are two articles concerning insider trading and bankruptcy. In this case the creditors won. I wonder if this could be used as a precedence in our case?

www.gamepolitics.com/2009/02/15/creditors-allege-shady-insider-dealing-midway-bankruptcy[/url][tag]insert-text-here[/tag]

www.next-gen.biz/news/midway-creditors-settle-with-mark-thomas

So from what I saw from a Tweet, are we waiting for two weeks to get the info or is that when the process of discovery starts. I am unclear.

After we get our payout!

Who isn't sueing these guys? Your company can't be doing all the right things when you are constantly in court.

Yeah I didn't think it was as funny as the people in the room. I wonder if the EC was laughing.

Is it typical for a judge to continue to ask for guidance from counsel on so many things? It seems the indecision at times would be enough for an appeal. The fact she could not come up with a 'Late Filers' date. She also spent too much time on trying to find out if 1 check was going to be sent to some one for distribution. I got the feeling she was not on her game yesterday.

After owning WAMUQ, I don't like this statement in the Article.

'Funds not paid to the creditors would trickle down the payment-priority scheme, perhaps reaching preferred shareholders.'

More press is a good thing here.

It's funny. Last week alot of people here said a lot worse. Even though it was written directly to her in a filed paper, we are all guilty of saying the same things. I agree she deserves respect and the filing wasn't very tactful but I am hoping some of this did get through and make a difference. This is guy is like all of us. Very stressed and fed up with these proceedings and the sham.

I wonder if THJMW reads financial boards.

Based on an earlier post within the next 24-48 hrs

Could be the reason the Judge won't unseal the docs and why she put in her opinion about the possible stress on another bank.

She may be going the samething. I wouldn't want to be the person remembered in history as the one who let this happen. It could be a big reason for the 'non' decision. Even though she denied the POR she did pander to a couple of groups.

GREAT POINT.! This WMI BK

Not really. I don't think we will move much past this level until a bombshell is dropped. Even though the POR was denied the market looked at it as a non event. It almost appears nobody won. I think the market is under the impression as a few here, that big money wins.

Seems like someone finally read and reported a little more accurately. Let's hope this finds its way to AP or has another reporter looking a little deeper.

I love craps. Love those numbers too.

Didn't the judge also reject the value of the reorganized company? Didn't it change from 157 million to much higher with the NOLs?

So it wasn't just the releases. To me, and others, I think she really didn't trust what was happening. Which is why she didn't approve releases for all so equity could recover some of what it was owed.

I may be a lot newer in posting but have been following for quite some time. I appreciate all the DD others have done and I have tried to read as much as I could. Thanks for all the different views.