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Jaime Dimon As Treasury Secretary; CAN WE ALL CHUCKLE AT THE SAME TIME> LMAO
I wish you luck but I think there's no stopping this one!
I feel the wind the pps will move swiftly tomrrow
imo
READ THIS....thanks uzual and other who posted. Fasten your seatbelt JHD its a good read!
http://www.ghostofwamu.com/documents/08-12229/08-12229-1997.pdf
interesting take> i like it too. In reality who knows what will happen, all I know...is its a great day for wamu!
I beleive this is bigger news than a halt itself!
WEIL, KRISTEN, you rock! and soon to be added to the list THJMW.
HAMMER WHERE ARE YOU, DIAMOND? FISH? JHD.....WAKE UP!
it's here people
Banco Santander is a huge capital bank, This spanish entity owns a 1/4 of the world practically. This is awesome, this not only implicates JPIG but opens the doors to lawsuits from potential buyers, especially if they were being talked out of buying wamu. This is bigger than I thought
this document has got to move pps tomorrow....don;t you think? the shorties will be running for cover....
reason, excuse....tell you what, have one for each; reason and excuse lol
OMG I'm rubbing my hands together in hapiness reading the latest document!
....can you hear that Jamie? ........listen carefully..... It's the wamu freight train barreling down the track and JPIG is tied to it......
GO WAMU
Kristen Grinds ; who knew that would be mentioned. I'm sending a her a noce gift basket. YOU ROCK!
BYE BYE ADIOS.....JD. However This means no settlement. IMO if this has been put forth, we have a long haul ahead of us in regards to asset recovery, yet I beleive the pps will definetely be affected positively as people reconize the potential gain of a stock so cheap (for right now).
This is a great step forward, there are many exhibits that will burn JPIG but I beleive they will be stupid enough to take this all the way.
Next step 4B and we are off to the races, buckle up and hold on this ride just started.
GLTYA
GO WAMU!
thats makes no sense! I will entertain your suggestion that JPM saved depsitors (what a joke) so why would you buy a bank for 1.9B and receive 4B ...I don't think so.
JPM already admitted and agreed to return the 4B ....sow please tell me how your theory applies.
GO WAMU!
JPMorgan TARP Warrants Sold and Settled! PAY UP JPIG
http://www.bloomberg.com/apps/news?pid=20601087&sid=aSGjIgvykZWk&pos=7
JPMorgan TARP Warrants Sold by Treasury Fetch $10.75 (Update2)
Share Business ExchangeTwitterFacebook| Email | Print | A A A By Peter Eichenbaum and Joshua Fineman
Dec. 11 (Bloomberg) -- JPMorgan Chase & Co. warrants held by the U.S. Treasury Department sold for $936.1 million, less than some traders predicted, closing out the federal bailout program’s stake in the New York-based lender.
The Treasury drew $10.75 each for 88.4 million of the securities in the second auction of warrants held by the Troubled Asset Relief Program, the agency said today in a statement. Nomura Securities International Inc. trader Bernard Chriqui, who expected a price of at least $12, said he may lower his forecasts for the pending sale of Bank of America Corp. warrants.
“These results could be telling for the upcoming BAC auctions, should they take place,” Chriqui, Nomura’s vice president of equity derivatives trading, wrote in an e-mail.
The Treasury sought to get higher prices for TARP warrants after a Congressional report found that some were sold back to banks for about 66 percent of their fair value. JPMorgan’s warrants sold for 34 percent more than the minimum bid of $8, and the sale was oversubscribed, said Treasury spokesman Andrew Williams.
The price per share was more than JPMorgan Chief Executive Officer Jamie Dimon offered, and which Treasury Secretary Timothy Geithner rejected, during negotiations earlier this year, Williams said in a telephone interview.
“We chose instead to go the auction, and we ended up getting the taxpayers a better deal,” Williams said.
JPMorgan didn’t bid in the auction, said company spokesman Joseph Evangelisti. JPMorgan is the second-biggest U.S. lender behind Bank of America.
Goldman Sachs
The Treasury demanded warrants from banks that took bailout funds to compensate taxpayers for the risk of investing in the companies during the height of the credit crisis. The warrants give investors a long-term option to buy common shares for a specified period -- in this case, 10 years from the date of issuance. The longer the term, the more they’re typically worth.
Banks have 15 days after buying back preferred stock to propose a “fair market value” for the warrants, which triggers a Treasury appraisal process. If the lender and the government can’t agree on a price, the Treasury will sell them at auction, according to the guidance the agency provided in June.
Below Forecast
Espen Robak, president of Pluris Valuation Advisors LLC, which specializes in pricing illiquid assets, had forecast the JPMorgan Chase warrants would sell for $13 to $17.
“The Treasury had been getting significantly better prices in the buyback transactions,” Robak said in an e-mail. He previously said the Treasury should consider postponing the JPMorgan auction after last week’s public sale of warrants from McLean, Virginia-based Capital One Financial Corp. netted $146.5 million, less than what analysts including Robak had estimated.
Goldman Sachs Group Inc., the most profitable securities firm in Wall Street history, bought back its warrants for $1.1 billion, or 11 percent of the $10 billion in preferred stock it repurchased from the Treasury to exit the bailout program. The $936.1 million taxpayers netted from yesterday’s auction amounts to 3.7 percent of JPMorgan’s $25 billion bailout.
The warrants sold yesterday give holders the right to buy common shares at $42.42 each until Oct. 28, 2018. JPMorgan fell 31 cents to $40.96 at 4 p.m. in New York Stock Exchange composite trading. The warrants rose 60 cents to $11.35.
Bank of America paid back $45 billion to TARP earlier this month. The Charlotte, North Carolina-based company hasn’t said what will happen to its warrants.
To contact the reporter on this story: Peter Eichenbaum in New York at peichenbaum@bloomberg.net
Wamu CANNOT CANCEL SHARES!
There's no way the reorg plan includes cancelling shares at this time. We don;t know how many assets wamu has. Also the fact that JPM purchased the banking and credit card services (providian) for 1.9B when providian was worth 9B alone. Not to mention the bank
Another thing is that wamu would have to state it would be cancelling shares, and even if that were the case shareholders could dispute that decision (very little power, but none the less available) Shareholders would get a letter that this was the holding company's intention. If wamu cancelled it shares as part of the reorg plan and continued the lawsuits and was awarded anything, it would open itself to many lawsuits.
Why are we assuming preferreds would get paid when its just as easy to convert preferreds to commons instead of cancelling commons, not that thats gonna happen, just a thought.
The bottom line is anything could happen. The best advice is to ignore the pps. Only puchase the shares you can afford to lose....and guess what, all this waiting for SJ or something to happen becomes mute. One day you will wake up to a portfolio filled with Cash, JPM shares, or possibly zero.
GLTYA
go wamu
that will be interesting to see. If shorts have gone up> i don't know what to think. On the otherhand if they have gone down to 25-30Million then 4b SJ will ride this stock way up. IMO
mms had a hard time slowing it down when it hot .44 so we'll see.
Unless they no something we dont.
this sucks. I think mm's are tripping stop losses. I have a lot of shares and if this hits .08 I'm doubling.
when does the new short list come out? DR?
I have 1.6M an avaerage about .16 now
But i flipped many of times and have been lucky. I'm not really looking for the lottery play here. I think even at .50 i should sell 50% cause the way this is going its gonna be a while.
seriously it takes her 2-3 months to rule on things check her other cases. Maybe thats what jpm/fdic are doing, just throw stuff in the air and have the judge think it over for 3 months. sheesh.
agreed. However I think we will just see more delays. The holiday season won't help our cause.
GLTA
Anytime THJMW is ready to rule? Here are my thoughts on that... She was ready to rule 2 months ago and the FDIC stepped in. If she's dimissing the FDIC claims why hasn't she ruled?
I don't think it's settlement talks. JPM knew that she was ready to rule and did nothing to settle at that point. (maybe they knew the fdic could buy them some time)
My point is: There are no settlement talks, or at least any serious settlement talks. A judge wouldn't delay a ruling this long to accomodate settlement talks. The ball is on her court and there were no further delays filed as far as we know.
IMO the 4B will be awarded to Wamu. Open and shut case. The 4b is not a part of the bank sale period. JPM knows it and admitted it, which is why they didint care to dispute or settle before the fdic stepped in. The fdic is just delaying or trying to get money to fund the many lawsuits they have coming there way.
Wamu will geth there 4b and formulate a BK plan. JPM will fight wamu tooth and nail for the rest of the stakes, assests and tax deductions. Please settlement would have already happend.
IMO
I agree. People that say there's no manipulation should really try and do something else. you have to hand it to them they short millions of shares and force the price down. Then purchase millions of shares on the way up. Even at a few cents gain, do the math, you do it several hundred times in a month and you have made some major cash. we don't own enough shares combined to make a difference.
IMO
I'm long and strong and riding free shares (although i regret not flipping at .41) I don't even look at the pps. I have an automatic sell at $1.00 if it ever hits it I can retire. Although i'd leave 200K shares in there just in case diamonds right LOL
If shares get cancelled (which is unlikely) oh well ...we move on to the next best thing.
GLTA
PUMP AND DUMP WHO? people come on.... this is history repeating itself. A slow pps increase 5-8% daily and then major volume. It's all mm speculation, maybe some consolidation. IMO mm's are driving it back up to make money on the way up (purchasing shares) until 12/18 and bring it right back down depending on outcome of the court.
It goes to show you mm's know more than we think cuase the last omnibus we had very little volume....so why did we have big volume back in sept?
there has to be some insider providing this pps movement...how else would mm's move the stock before one omnibus and not the other. Just my thoughts....
GLTA
GO WAMU
Interesting Chapter 11 info for those uncertain investors:
What Every Investor Should Know ...
Corporate Bankruptcy
What happens when a public company files for protection under the federal bankruptcy laws? Who protects the interests of investors? Do the old securities have any value when, and if, the company is reorganized? We hope this information answers these and other frequently asked questions about the lengthy and sometimes uncertain bankruptcy process.
What Happens to the Company?
How Are Assets Divided in Bankruptcy?
Secured Creditors - often a bank, is paid first.
Unsecured Creditors - such as banks, suppliers, and bondholders, have the next claim.
Stockholders - owners of the company, have the last claim on assets and may not receive anything if the Secured and Unsecured Creditors' claims are not fully repaid.
Federal bankruptcy laws govern how companies go out of business or recover from crippling debt. A bankrupt company, the "debtor," might use Chapter 11 of the Bankruptcy Code to "reorganize" its business and try to become profitable again. Management continues to run the day-to-day business operations but all significant business decisions must be approved by a bankruptcy court.
Under Chapter 7, the company stops all operations and goes completely out of business. A trustee is appointed to "liquidate" (sell) the company's assets and the money is used to pay off the debt, which may include debts to creditors and investors.
The investors who take the least risk are paid first. For example, secured creditors take less risk because the credit that they extend is usually backed by collateral, such as a mortgage or other assets of the company. They know they will get paid first if the company declares bankruptcy.
Bondholders have a greater potential for recovering their losses than stockholders, because bonds represent the debt of the company and the company has agreed to pay bondholders interest and to return their principal. Stockholders own the company, and take greater risk. They could make more money if the company does well, but they could lose money if the company does poorly. The owners are last in line to be repaid if the company fails. Bankruptcy laws determine the order of payment.
What Will Happen to My Stock or Bond?
A company's securities may continue to trade even after the company has filed for bankruptcy under Chapter 11. In most instances, companies that file under Chapter 11 of the Bankruptcy Code are generally unable to meet the listing standards to continue to trade on Nasdaq or the New York Stock Exchange. However, even when a company is delisted from one of these major stock exchanges, their shares may continue to trade on either the OTCBB or the Pink Sheets. There is no federal law that prohibits trading of securities of companies in bankruptcy.
Note: Investors should be cautious when buying common stock of companies in Chapter 11 bankruptcy. It is extremely risky and is likely to lead to financial loss. Although a company may emerge from bankruptcy as a viable entity, generally, the creditors and the bondholders become the new owners of the shares. In most instances, the company's plan of reorganization will cancel the existing equity shares. This happens in bankruptcy cases because secured and unsecured creditors are paid from the company's assets before common stockholders. And in situations where shareholders do participate in the plan, their shares are usually subject to substantial dilution.
If the company does come out of bankruptcy, there may be two different types of common stock, with different ticker symbols, trading for the same company. One is the old common stock (the stock that was on the market when the company went into bankruptcy), and the second is the new common stock that the company issued as part of its reorganization plan. If the old common stock is traded on the OTCBB or on the Pink Sheets, it will have a five-letter ticker symbol that ends in "Q," indicating that the stock was involved with bankruptcy proceedings. The ticker symbol for the new common stock will not end in "Q". Sometimes the new stock may not have been issued by the company, although it has been authorized. In that situation, the stock is said to be trading "when issued," which is shorthand for "when, as, and if issued." The ticker symbol of stock that is trading "when issued" will end with a "V". Once the company actually issues the newly authorized stock, the "V" will no longer appear at the end of the ticker symbol. Be sure you know which shares you are purchasing, because the old shares that were issued before the company filed for bankruptcy may be worthless if the company has emerged from bankruptcy and has issued new common stock.
During bankruptcy, bondholders will stop receiving interest and principal payments, and stockholders will stop receiving dividends. If you are a bondholder, you may receive new stock in exchange for your bonds, new bonds, or a combination of stock and bonds. If you are a stockholder, the trustee may ask you to send back your old stock in exchange for new shares in the reorganized company. The new shares may be fewer in number and may be worth less than your old shares. The reorganization plan will spell out your rights as an investor, and what you can expect to receive, if anything, from the company.
The bankruptcy court may determine that stockholders don't get anything because the debtor is insolvent. (A debtor's solvency is determined by the difference between the value of its assets and its liabilities.) If the company's liabilities are greater than its assets, your stock may be worthless. Contact your local Internal Revenue Service (IRS) office or call 1-800-829-1040 for information about how to report worthless securities as a loss on your income tax return. If you don't know whether your stock has value, and you can't find a stock or bond price in the newspaper, ask your broker or the company for information.
Why Would a Company Choose Chapter 11?
"Prepackaged Bankruptcy Plans"
Sometimes companies prepare a reorganization plan that is negotiated and voted on by creditors and stockholders before they actually file for bankruptcy. This shortens and simplifies the process, saving the company money. For example, Resorts International and TWA used this method.
If prepackaged plans involve an offer to sell a security, they may have to be registered with the SEC. You will get a prospectus and a ballot, and it's important to vote if you want to have any impact on the process. Under the Bankruptcy Code, two-thirds of the stockholders who vote must accept the plan before it can be implemented, and dissenters will have to go along with the majority.
Most publicly-held companies will file under Chapter 11 rather than Chapter 7 because they can still run their business and control the bankruptcy process. Chapter 11 provides a process for rehabilitating the company's faltering business. Sometimes the company successfully works out a plan to return to profitability; sometimes, in the end, it liquidates. Under a Chapter 11 reorganization, a company usually keeps doing business and its stock and bonds may continue to trade in our securities markets. Since they still trade, the company must continue to file SEC reports with information about significant developments. For example, when a company declares bankruptcy, or has other significant corporate changes, they must report it within 15 days on the SEC's Form 8-K.
How Does Chapter 11 Work?
The U.S. Trustee, the bankruptcy arm of the Justice Department, will appoint one or more committees to represent the interests of creditors and stockholders in working with the company to develop a plan of reorganization to get out of debt. The plan must be accepted by the creditors, bondholders, and stockholders, and confirmed by the court. However, even if creditors or stockholders vote to reject the plan, the court can disregard the vote and still confirm the plan if it finds that the plan treats creditors and stockholders fairly. Once the plan is confirmed, another more detailed report must be filed with the SEC on Form 8-K. This report must contain a summary of the plan, but sometimes a copy of the complete plan is attached.
Who Develops the Reorganization Plan for the Company?
Committees of creditors and stockholders negotiate a plan with the company to relieve the company from repaying part of its debt so that the company can try to get back on its feet.
One committee that must be formed is called the "official committee of unsecured creditors." They represent all unsecured creditors, including bondholders. The "indenture trustee," often a bank hired by the company when it originally issued a bond, may sit on the committee.
An additional official committee may sometimes be appointed to represent stockholders.
The U.S. Trustee may appoint another committee to represent a distinct class of creditors, such as secured creditors, employees or subordinated bondholders.
After the committees work with the company to develop a plan, the bankruptcy court must find that it legally complies with the Bankruptcy Code before the plan can be implemented. This process is known as plan confirmation and is usually completed in a few months.
Steps in Development of the Plan:
The debtor company develops a plan with committees.
Company prepares a disclosure statement and reorganization plan and files it with the court.
SEC reviews the disclosure statement to be sure it's complete.
Creditors (and sometimes the stockholders) vote on the plan.
Court confirms the plan, and
Company carries out the plan by distributing the securities or payments called for by the plan.
What is the Role of the U.S. Securities & Exchange Commission in Chapter 11 Bankruptcies?
Generally, the SEC's role is limited. The SEC will:
review the disclosure document to determine if the company is telling investors and creditors the important information they need to know; and
ensure that stockholders are represented by an official committee, if appropriate.
Although the SEC does not negotiate the economic terms of reorganization plans, we may take a position on important legal issues that will affect the rights of public investors in other bankruptcy cases as well. For example, the SEC may step in if we believe that the company's officers and directors are using the bankruptcy laws to shield themselves from lawsuits for securities fraud.
How Will I Know What's Going On?
Sometimes, you may first learn about a bankruptcy in the news. If you hold stock or bonds in street name with a broker, your broker should forward information from the company to you. If you hold a stock or bond in your own name, you should receive information directly from the company.
You may be asked to vote on the plan of reorganization, although you may not get the full value of your investment back. In fact, sometimes stockholders don't get anything back, and they don't get to vote on the plan.
Before you vote, you should receive from the company:
a copy of the reorganization plan or a summary;
a court approved disclosure statement which includes information to help you make an informed judgment about the plan;
a ballot to vote on the plan; and
notice of the date, if any, for a hearing on the court's confirmation of the plan, including the deadline for filing objections.
Even when stockholders do not vote, they should get a summary of the disclosure statement, and a notice on how to file an objection to the plan.
Stockholders may also receive other notices unrelated to the plan of reorganization, such as a notice of a hearing on the proposed sale of the debtor's assets, or notice of a hearing if the company converts to a Chapter 7 bankruptcy.
What is Chapter 7 Bankruptcy?
Some companies are so far in debt or have other problems so serious that they can't continue their business operations. They are likely to "liquidate" and file under Chapter 7. Their assets are sold for cash by a court appointed trustee. Administrative and legal expenses are paid first, and the remainder goes to creditors. Secured creditors will have their collateral returned to them. If the value of the collateral is not sufficient to repay them in full, they will be grouped with other unsecured creditors for the rest of their claim. Bondholders, and other unsecured creditors, will be notified of the Chapter 7, and should file a claim in case there's money left for them to receive a payment.
Stockholders do not have to be notified of the Chapter 7 case because they generally don't receive anything in return for their investment. But, in the unlikely event that creditors are paid in full, stockholders will be notified and given an opportunity to file claims.
Does My Stock or Bond Have Any Value?
Usually, the stock of a Chapter 7 company is worthless and you have lost the money you invested.
If you hold a bond, you might only receive a fraction of its face value. It will depend on the amount of assets available for distribution and where your debt ranks in the priority list on the first page. If your bond is secured by collateral, your payment will depend in large part on the value of the collateral.
Where Can I Find More Information?
The Company. - Contact the investor relations department in the company's home office. They can give you more information on the bankruptcy proceeding, including the name, address, and phone number of the court handling the bankruptcy.
Your Broker. - If you can't find information in the newspaper or the library, or you haven't received any correspondence from the company, call the person who sold you the investment.
The SEC. - Companies file regular reports with the SEC in a computer database known as EDGAR. For example, a company declaring bankruptcy will file a form 8-K that tells where the case is pending and which chapter of bankruptcy was filed. You can access EDGAR through your computer at: http://www.sec.gov If you don't have access to a computer, your public library may have a computer you can use. You can also request a copy of Form 8-K, or any other reports that the company files with the SEC, see "How to Request Public Documents". Or, you can visit the SEC's Public Reference Room, 100 F Street NE, Washington, DC 20549. You might also be able to get copies of SEC filings from your full-service stockbroker, or the company itself.
Bankruptcy Court. - If the company is in Chapter 7, and has not filed reports with the SEC, or you need more information, the bankruptcy court itself is another source. This court is usually located where the company has its main place of business or where the company is incorporated. (There is at least one bankruptcy court in each state and the District of Columbia.) Once you know a company's main place of business or state of incorporation, you can obtain the address and phone number of the bankruptcy court for that region by visiting the website of the Administrative Office of the United States Courts or by calling (202) 502-1900. Court addresses and phone numbers are also listed in the publication, The American Bench, which you can find at your local library. In addition, you'll find links to U.S. Bankruptcy Court websites at http://www.uscourts.gov/bankruptcycourts.html.
U.S. Trustee at the Department of Justice. - The U.S. Trustee has broad administrative responsibilities in bankruptcy cases. Check the U.S. Trustee's website, your local telephone book, or the public library for the field office closest to you, and contact them for information on the status of the bankruptcy.
A Securities or Bankruptcy Attorney. - You may want to talk to an attorney, especially if you believe that the debtor defrauded you and you want to know your legal options. If you suspect fraud, you should also report it to the SEC or your state securities regulator.
For a more detailed discussion of different types of bankruptcy, please read Bankruptcy Basics, which the Bankruptcy Division of the Administrative Office of the United States Courts produced to assist the public in understanding bankruptcy.
http://www.sec.gov/investor/pubs/bankrupt.htm
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A court only approves a chapter 7 if the creditors cannot agree on a re-organization plan. Chapter 7 liquidates assets and dismisses all allowable debts. This cannot happen while the company still has income and is operating. Also assests are still in dispute therefore a court wuold bnever allow that. I think the link below will answer most of your questions.
http://en.wikipedia.org/wiki/Chapter_11,_Title_11,_United_States_Code
Providian Question? If providian was merged with WMI or WMB which ever the entity and it was sold part of the sale to JPM, which I'm in agreement JPM now owns....doesn't that emphasize the the point made by most of the board here. If Proviadian was worth 6.5B and was included in the ridiculuos bank sale of 1.9B of Wamu, doesnt that prove wamu was undervalued even more?
Let me get this straight..... a 300B bank plus credit card sevices, branches, banking services, subs, and depositors, not to mention the 4b was sold to JPM for 1.9B
Why do we fear any wamu securities are at risk?
JMHO
it's nice to see shorts covered a bit more....but was really hoping for 35m or less..... I just figured this sideways trading was the short intrest slowly consolidating. I guess i was wrong again.
I'm not sure what to make of today's hearing. Although it's not really a surprise to me, I just didin't see the point of even being in court today. If you view the docket most everything was postponed until dec 18th.
I think our wishful thinking makes us beleive there are settlement talks, I really can't even analyze this anymore...it's down right exhuasting.
GLTA. GO WAMU.
P.S. thanks again mods.
I thought so, but wasn't sure on the timeline. BK courts usually run fairly quickly, but to make a decision on summary judgement "ASAP" is now approaching the 6 week mark. sheesh!
I agree, and hope I am wrong. The great thing about our judical system is that is fair and hears all parties. No doubt FDIC is over stepping here, even she awards 4B, can't the FDIC file an appeal....anyone?
I can't understand that either, but it also rings true if she had a positive outcome or was to award summary to wamu, why wait this long?
we can speculate all we want...no one really knows.
My other thought is, why is there so much time in between sessions? If you or me were on trial, this would have been over with already. LOL
Awesome Johnny keep p the good work!
are you serious? you're still waiting on .119 really? less than 1/3 of a penny difference to buy. Well, beter you than me I guess. GLTYA
go wamu
yeah beleive me I trying to work every angle here. I got some info out of him but nothing really solid that is worth posting. In other words, it would be just guessing and I am not a fan of pure guesswork. But I have a set of questions I am prepared to ask ....wish me luck. I'm out of posts for today so i will come back to the board on monday. I'll fill you in on my investigative questioning.....if not I can take him out back and make him an offer he cant refuse....LOL
GO WAMU, stay long and stay strong!!!!!
I don't think it means much they can add hearings after each hearing and if it goes to court....we'll be here a while. My hunch is something is in the works.
I know an attorney who works for the FDIC on this case he wont disclose anything....rat bastard. I'm working him hard.... I see him again this weekend. He's dating a friends' sister.
but more than likely i may have to beat him....lol, the thing is he's a cool dude. Damn it makes it harder.
I hope you already have a position, and you're looking to add at .119 cause i wouldn't want to spend any day completely out of this. But then again i have been completely out on flips many of times, but i havent flipped this stock in several months and my only move is adding, even small 1000 lot buys at this point..... go wmau
thanks that was very informative. It is always a good idea to tkae thing with a grain of salt. no matter what the case is.
thanks again, I've been educated yet once again.
GLTYA GO WAMU
Basically Dimon or one might say DEMON is as crooked as they come. All signs point to wamu! yet media nor Demon homself ever refers to wamu, strange. How the biggest savings and loan is never mentioned.... shhhh did i say that outloud. I say we all pool some money together and place ads in the top newspapers around the country. Full page ads: stating WAMU WAS STOLEN details at: wamustory.com
why is that? Sorry I am curious as why the unrliabilty of that list. Are they naked shorts or is that list bias or also manipulated
I agree with that partially. We are a very small percentage trading this stock, I would guess less than 2% Wamu's pps is controlled by the 45M shares that get traded by the mm's (nite) and so forth. The 7-7 million volume is all them buying back and forth. We run this stock up with private investment companies. Wamu is a different animal.
This is what I beleive.
GLTA