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Climber. "Ajest" supplied the answer to your post in response to my earlier post! I was just saying that having a functioning, funded EC with a top-notch team of accountants (Solomon) is more important to our cause here than a change of BOD!
Many folk may disagree with me but I believe that the EC trumps the current or future BOD of WMI! … rs
Ukiyo! There is NO shareholders time-stamp to my knowledge! The time-stamp mentioned (which date I cannot recall) is for change of BOD voting privileges only!
As usual, a share is a share is a share! A worthy mantra that will withstand the test of time! … rs
With all due respect, a changing of the BOD is peanuts compared to having a viable EC which we now in fact have! The current BOD, as lame ass as they have been, will now have to rethink their thinking, so-to-speak!
With Solomon aboard and accounting true current A&L numbers, it should not matter who comprises the BOD! Numbers don’t lie – people do! Where in the hell have I heard that before! LOL! … rs
Fish. As much as I would love to believe such, JMW is not taking into consideration “a criminal act” on the part of JMP/FDIC! With all of the dirt that she has been privy to over the last 18 months, she would have turned this over to the DOJ 12 months ago if possible!
I believe that she is just ever so methodically letting this play out and fortunately (for equity) letting every valid party have a seat at the table!
She has proven herself wily in my book and I like wily! It never worked for the coyote but he bought his products from ACME! … rs
Sometimes. That is a great point that is often overlooked! The EC is SIGNED off on and FUNDED (within reason)! JMW has been nothing more than cautious and tactical during this entire fiasco! I personally do not believe that she would grant a funded EC to the table if she did not expect to hear from them and entertain their derivations!
Time marcheth on … rs
Fish! CHDN has been the thorn in our side lately! How long can they control this?
Time for bed! What a week!
Have a great night Fish and all …. rs
There is NO guarantee for the commons! True! There was no hope (in retrospect) at all for commons until the EC was granted and signed off on by JMW!
I am just saying stay cool and don’t get your bowels in an uproar! Many people have lived and breathed this for a year or more! Your personal concerns are valid! However, this is a different animal altogether!
GLTY Sir! … rs
Munz. Your most recent posts are bitter, rude, and with a hint of desperation! Your post history indicates that you got in around .28ish in early March without much DD!
Even though the P’s and K’s are on the top of the food chain, the U’s can potentially see great value. It is entirely in the hands of the EC!
This play is court driven and news driven only! Period! Many folks have made nice coin trading this! Most longs hold this and flip occasionally between hearings!
If you have not been flipping this to your advantage, that is your problem! … rs
Climber. I was surprised as all hell that the pps did not jump on the signed motion for the EC to intervene at first! However, there was NO press release or any news at all regarding this event!
How strangely absent any media was to report this! Hmmmmm … rs
FYI: New Court Docs
http://www.kccllc.net/documents/0812229/0812229100319000000000016.pdf
http://www.kccllc.net/documents/0812229/0812229100319000000000017.pdf
Have not read them yet! … rs
Thanks Up and Up! Appreciate that!
Going to bed! Tomorrow is another day! Take care Up and all! … rs
Zilla. Getting my full position back was dependant on selling portions of other plays today which just did not work out!
That’s cool! I can live with that! I am stoked to be back in!
GLTA … rs
Thanks UZ. The overall mood and tone has been a bit cantankerous since Friday! The signed motion to intervene is fortifying the troops once again! … rs
That is righteous Fish! The dude abides – the dude abides … rs
Thanks Duck! I got in @ .17, around eight minutes before EOD! Plus, we get the Motion to intervene signed by our charming Judge! I am living well today! .. rs
Thanks Kristal, JHD, Knick, Uzual, fio1259, and luv2shop for the welcome back greetings! You are too kind!
BTW: You are not going to believe this but I was just checking my transaction history for 2009 and surprise, surprise, my original entry into WAMUQ was 03/18/09! I happened to get back in on the one year anniversary! Hopefully this will be an omen of great things to come.
Let’s roll! … rs
New Court Doc:
http://www.kccllc.net/documents/0812229/0812229100318000000000003.pdf
Have not read it yet - it is huge (in volume)!
Will be back later tonight ... rs
I'm Back in Baby! Had to compromise on my re-entry point, but it feels good to be home! There’s no place like home – or the bowling alley!
Now I must say …
• JMW - get your game face on!
• EC – Protect and serve our equity!
• You mean lawyers – well you’re hopeless!
Let’s roll … rs
LOL – hello Duck. All I can say is damn, damn, and damn!!! Ever since Rosen spoke at the hearing, these subsequent days have NOT been kind to me.
I was happy as a clam this morning as the pps continued to drift towards .12 so I step out for a while! By the time I get back, the pps is shooting upwards and by the time I find the EC PR, I am scrambling to sign-on to my trading account!
I was hoping for a last minute sell-off from the day-traders but it did not happen! If this gaps up tomorrow, I am screwed! I may just bite the bullet tomorrow and sell one or two of my bio-pharm plays! To make matters worse, the wife is out of town and I will be involved Thursday morning fixing my boys breakfast, preparing his lunch, and getting him off to school, therefore not exactly being ready to flip-flop several plays at once as the pps warrants!
I had just gotten over Fridays debacle and am currently feeling like a damned chump for not getting back in at .13 or .15! I got too greedy! Too damned greedy indeed!
I need a vacation. Perhaps I will go bowling … rs
Well put Dudebug! Rosen’s words of “global understanding” at first brought elation to the board! However, the pps of all classes started to fall hard and it was soon deciphered that the settlement was for a paltry $6 billion! I was not dialed into the CC but have heard that the audio was scratchy at best. Many folks dialed in were doing their best to keep the board up to date but the multitudes of posts and the slowness of iHub at the time created a mass panic!
So why are people depressed? WAMUQ was trading >.70 on the 9th and >.40 on the 12th. After the hearing, the pps dropped to .09 where unfortunately, many market order sells got filled. I was lucky and had mine filled at .12! LOL!
To add insult to injury, many folk on the 12th bought back in once they felt that the pps had bottomed, and chased this thing UP with many buys going thru at .16, .18, .20, or higher!
Currently we are <.14 and going no place fast! There are a few posters that CONSTANTLY spout that the pps means nothing here! I have always called BS to that!!! Even though I realize that this is an entirely different animal, any investor wants a green portfolio!
Just an observation of the recent events for what it’s worth … rs
New docs (to my knowledge)!
http://www.kccllc.net/documents/0812229/0812229100316000000000010.pdf
http://www.kccllc.net/documents/0812229/0812229100316000000000011.pdf
It is late and I am not even going to begin deciphering them as it is time for bed!
… rs
Blarsh! All that you say is true – except …. The EC needs to make their presence known in a public way! I have no doubt that they have been working behind the scenes and it is NOT their job to inform current investors of their handiwork!
I am just saying that investors of ANY stock crave news! I know that this is a completely different animal here, but was just attesting to why people are down and depressed at the moment.
Many people will be getting out as the pps drops and many folks like me are gambling on where the ultimate re-entry point is! … rs
Hello Oil! The beauty of the EC is that we have an EC. The ugly of the EC is that they have been impotent thus far!
As Johnny Carson would say – “weird wild stuff”! … rs
Hello Byrd! I am still out – waiting for the ultimate re-entry point! All we have from the EC so far is Venable’s January billing for services rendered! At this juncture, if the EC does not burst onto the scene like a mushroom-cloud layin’ mf’er, I think we will continue to drop steadily. I really don’t see a reason for this to go up at this point. With each day, people are getting disheartened. People that couldn’t get out on Friday have been acting out their frustration the last few days!
Why do I still want back in after the above? Because I do believe that the EC will start functioning despite their current silence!
As I mentioned earlier today, my gamble is getting in at the lowest entry point right before the EC makes some noise! How easy is that? LOL!
Take care Byrd and all … rs
New Doc RE: Venable reimbursement/Expense Jan
http://www.kccllc.net/documents/0812229/0812229100316000000000008.pdf
... rs
This fiasco just gets more complicated and sordid as time goes on. Since many moons ago ago, Rosen has gone from good guy to an asp and a venomous one at that! The WMI BOD which was assumed to be the ROCK here is now looking like a pillar of tapioca!
If the above is not enough to stomach, shareholders were blessed with representation in the form of an EC back in late January if memory serves. They have yet to be heard from!
All shareholders and especially the longs have a right to be more than frustrated at this circus like atmosphere! We have been kicked around more than Richard M Nixon as of late. News of full EC intervention will turn this around ASAP and I do not mean JMW’s ASAP if you know what I mean!
Now I am in the mode of selfish bastard, as I am looking for this to drop slowly and steadily to hopefully re-enter around .12 or even .10ish! Sorry guys – never thought that I would be hoping for that!
It looks like the gamble now is whether the bondholders cave before the EC can intervene – and will JMW sign off on such a deal after awarding an EC in the first damn place?! … rs
FYI: Newer Court Docs (May or may not have been posted)
http://www.kccllc.net/documents/0812229/0812229100315000000000011.pdf
http://www.kccllc.net/documents/0812229/0812229100315000000000010.pdf
http://www.kccllc.net/documents/0812229/0812229100315000000000012.pdf
Have not read them yet – in process… rs
FYI: New Court Docs …
http://www.kccllc.net/documents/0812229/0812229100315000000000001.pdf
http://www.kccllc.net/documents/0812229/0812229100315000000000008.pdf
http://www.kccllc.net/documents/0812229/0812229100315000000000004.pdf
Edit - 1 more ...
http://www.kccllc.net/documents/0812229/0812229100315000000000005.pdf
Have not read them yet… rs
Unfortunately, Rosen HAS shown how much power he does have as his spoken words move the pps and sentiment of WaMu investors!
In your garden variety stock play, the CEO, President, or financials speak for themselves! Rosen is speaking volumes with his happy horse crap and manipulation of thousands of people or more!
He currently has more power than the Pope and it is up to the EC to counter his confabulation!
We shall see soon – hopefully! … rs
Hello UMAW! Those 5 pesky questions are the same questions that we have all been asking ourselves all weekend long since BLOODY Friday! Correction - actually, we have been pondering question #5 for too many months! LOL!
As I said in my earlier post, we are all waiting on tenterhooks for an EC response! The EC is the commons only ally! Hopefully they will speak soon so we all have a better grasp of the situation! … rs
Even though the pps recovered nicely on Friday after Rosen’s crap-fest, I feel the recovery was due to investors on this and other boards simply buying back in after selling all or partial positions when the pps began to tank!
Many investors who do not follow this daily, or were at work, out shopping, on vacation, at a strip club, etc, and were without stop-losses were blindsided when they checked their accounts Friday night! Some may have just gotten the news over the weekend! IMO these are the folks that will determine where we will open at tomorrow morning!
After reading approx half of the posts here this weekend, it looks like many are apprehensive (as they should be) about adding more U’s, or even selling off the U’s and going to the K’s or P’s!
I myself would like to see some documents released by the EC (explaining their thoughts on Friday’s agreement) before I get back in! But … If we see a nice dip in the morning that is too hard for me to resist (which is very possible), I will augustly re-enter! … rs
Allie! Thank you very much! Apart from purchasing a home or getting married, this is undoubtedly the biggest decision of our respective lives!
Cannot wait until the EC responds to the baloney that was thrust upon us on Friday! … rs
Zilla. This is the ONE weekend that I do NOT want settlement! LOL! Monday should be crazy as many blindsided folks did not have a chance on Friday to do a damn thing!
I am officially selfish and want this to dip hard on Monday to get back in!
I do think that with time, the EC will buck up and protect the commons! … rs
Very well put Shop and thank you! Although I am mostly over it, my pushing the sell button during the freefall, acutely agonized me for nearly 24 hours! We are all human and have our breaking points!
Looking forward to another off day tomorrow and really anticipating Monday’s opening! This is not over (as per RAMBO)!
Take care … rs
Thank you very much Tonopah! You are too kind! I think many here, or on any message board, are too proud or supercilious to admit that they were generally spooked on Friday! The information that we were getting was choppy at best and was NOT good for equity at that particular moment of chaos! All hell was breaking loose for Pete’s sake!
Take care … rs
Zilla! You only have to hold your shares, not your nadz, but that is your decision! LOL! I actually took the entire day off from the board and worked on weeding our lot adjacent to our main property. Great WAMUQ therapy but I will be as sore as hell tomorrow!
I have all intentions of getting back in on Monday my friend! Of course who knows what will happen after BLOODY FRIDAY, but I am counting on a dip to re-enter.
I appreciate your kind words and hopefully the EC will see to it that we do wind up in VEGA$. … rs
IMHO, the EC and JMW were AWOL today – much like Klinger on M*A*S*H! I for one did NOT expect this blatant disregard by said parties with so much on the line!
• JMW is weaker than I had thought back in September!
• The EC’s non-action today was staggering!
Going to bed!
Long and strong with no shares currently! Will buy back next week! … rs
Thank you Diane! I do want back in next week as I cannot imagine that our EC is this impotent - or JMW for that matter!
Take care … rs
Good man Oil! That home made wine must truly be an elixir! LOL! I am ashamed that I sold! I feel like a GD fool, in all honesty!
If the EC would have at least had a bit of a forum today, I would still be in! The EC will undoubtedly make some noise in the next few days but where in the HELL were they today and why did JMW do basically nothing!
I hope to buy back in next week! … rs