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Don't worry. At the EOD we will end in green, sure.
Who do you think will spend the entire weekend without holding any 'lottery tickets'. If the settlement arrives during the weekend, many can get out of the game.
1.7 billion
Tomorrow it's gonna be CRAZY
I think tomorrow it's gonna be a real crazy day because everyone will want to hold their tickets during the weekend, just 'in case something happens before monday'...
Tomorrow will be a fun day too, IMHO
I'm also 100% IN WAMU.
In Wamu we trust.
try xe.com
divide by 0.7406
Why don't prefs go up?
fsshon, as 'uzual' your messages are very instructive.
I liked this part:
This is the greed and corruption that is Wall Street.
GS shorted WAMU after it arranged the TPG deal! WHAT'S THAT YOU SAY! GS shorted WAMU even after it got paid for arranging a deal for TPG! WHAT'S THAT YOU SAY! Killinger asked Paulson to put WAMU on the "no short" list that many of the WALL STREET companies were enjoying the safe haven. Paulson said NO! "You should have sold to JPM and you should do so now or things can get worse for you." WHAT'S THAT YOU SAY! Jamie Dimon and the JPM crew "courted WAMU's assets since 2004 and the Texas Lawsuit states clearly that "Jamie Dimon puposely put Moles at WMB and WMI, so he could get inside info for a "fire sale" deal. DId these Moles change Wamu's risk portfolio and mortgage risk management "Steve Rotella in a meeting in 2005 over-rode the decision of the risk management team and started the ball rolling on a new risk strategy" WMI's Board did not mind because of the obscene profits this type of mortage-backed securities was making for the company.
Same here. I commented it to my friends and family, and first I only got my brother to invest 300$. Later, I explained him all the details of the DD I've done so far (with the data of this and other forums) and then he decided to invest another 12,000$.
None of my friends believed me. When you say the words 'bankrupcy' and 'posibility of total loss' they no longer show any interest.
Too bad for them.
Really? Satisfaction? 730 x 75 = 54,750$
55 grand in a billions worth case satisfies you?
dred scott: I still remember the story you posted on the GGP process. Was very enlightening for me.
Let's see if Wamu re-borns again, as the Phoenix Bird... from its ashes...
I agree with you...
If settlement is SO SO NEAR, I don't understand why WAMPQ is 70 or WAMUQ 0.22
Insider leaks would make crazy buys. There're so many parts involved...
depends how the settlement pays back the shareholders.
It could be, one morning when you wake up you've got cash on your account, or your old wamu shares are now JPM shares.
Nobody knows.
Well, in any case if they sell their positions in Chase and buy them again with another broker, I do not think it's so biiiiig effort in time nor money, I don't know why everyone is making so big deal about this issue...
no way Walrath is going to crush anybody...
She's been conducting this whole thing slowly and patiently. WMI Bondholders already reached a settlement, and she is not going to risk a settlement crushing anybody.
I think she knows everybody knows other's cards, so they just need a little bit of time to reach a conclussion.
I think the orange suit is more fancy.
I don't agree. I think they are just ordering the 401(k) accounts and the WAMU shares have no place in there.
If they keep their employees shares and after they settle, they could end up with a cascade of suits claiming their money back that could be really messy.
IMHO
important claims moved to march 18th, dude.
http://www.ghostofwamu.com/documents/08-12229/08-12229-2379.pdf
No realtime feed from CNBC for WAMU!!!
I cannot get it work:
http://data.cnbc.com/quotes/wamuq
But if I put another company it works perfectly:
http://data.cnbc.com/quotes/JPM
Anyone else with the same problem?
Fish, great posts, thank you.
Sheila Bair panicked? I do not care; she's highly responsible for the Wamu collapse.
If a person panicked pulls the trigger of a gun and kills someone he/she is fully responsible anyway.
8$ per share (1.7billion) makes some 13.6billion.
Why pay 13.6billion if you can pay 1.88?
How do you open ibox?
looks as if some one bought 450,000 shares.
people designed a strategy based on waiting for the prefs to go up to 70-80% of their face value (means multiply x7 x8 times) and then selling to buy commons at actual prices (or a little % higher)
Probably many of the EC members also is playing this game.
Help 401(k) JPM Plan to liquidate WAMU shares
In the Yahoo board, a guy is claiming that JPM is going to liquidate (make cash) his 3200 common WAMU shares.
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_W/threadview?m=te&bn=86316&tid=351661&mid=351661&tof=7&frt=2#351661
There are some 45,000 ex-WAMU employees out there so basic math:
45,000 x 3,200 = 144 million shares. If some employees have more than the 3,200 shares owned by this guy this could go up to 150M or 200M.
The question is:
- JPM cannot hold this shares (they have to sell them). If there was a settlement after that, JPM could be sued by the current employees claiming their loses. What's do they have in mind?
If they make this move this means commons are trully worthless for them. Can someone give a better argumented explanation?
I am long on commons and prefereds and because of that, a bit worried too.
I think it was about the unexpected 2.6 billion WAMU is elegible for tax refunds because of a new law change.
Now you can account back 5 years loses (before it was only 2 years back)
dred scott, amazingly interesting read...
but those settlement fees where pre-EC (with the equity wiped off)
With the creation of the EC things have changed, and settlement will be much more expensive, so I do not think we are so near from reaching any deal.
Also, with the deadline moved from 3-26 to 5-26, now they have more time to deal settlement terms...
IMHO
I would rather say damn welcome station.
No pain, no gain.
Report closes 7/15 BiWeekly Volume 55m.... Shorts 56m
How can this be? Shorts bigger than volume?
How do you know "Note that less 1% of shorts covering to total biweekly volume." ?
Could someone explain it for those newbies like me who don't understand much about this stuff?
¿0.50 per share? I don't think so. To see 0.50$ on the commons i think you should see first 200-300$ on the prefereds...
could someone please share this spreadsheet outside of GhostofWamu? I am not a member and cannot download it...
Thnk you very much in advance.