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Wait. Are saying info is out supporting the deal was done on Thursday so that BK could be filed on Friday with the WMI legal?
Help me connect the dots here, I'm a little slow:). I'm pretty sure about illegal activities occuring, and wouldn't be surprised if it is confirmed the BOD was in on this from the onset. Why is it that seizing on Thursday enabled / allowed for BK to be filed on Friday (vs. another later date?) (#1), and with the WMI legal team guiding the process (vs. another legal team?) (#2). I know you're on to something but I don't yet think I follow.
I thought the importance of Thursday seizure was to get the deal done before TARP money flowed, or something along these lines...as well as to not allow time for the sham of a bidding process to continue. AIMO.
To be clear, I am not second guessing you, I just think I'm missing a piece of this puzzle.
Thanks. I remember reading Dr. A's objection letter and follow up letter. Can you imagine if it is confirmed by the examiner that his valuation was accurate, or at least in the ballpark?
Thanks for responding. I don't have PM ability currently. I had not heard that prior to you mentioning it. Do you have more on this?
Thanks for your response. I'm real curious about whether the final numbers will reflect a multiple of some factor in the end, 2X...I'm also very curious at this juncture about whether this examiner report will actually reach the point where it heard/read by the public. Interesting times we are living in to say the least.
Any speculation as to what the ballpark value might be?
If you're right about this, and IMO you are dead right, then we can see why SS would have said what he said aobut THJMW knowing exactly what she is doing. SS knows how to read.
Just keep it down through Monday please!
Just a theory, on 'why let the examiner in.'
Maybe SS made this a condition because Solomon's numbers suggested at the time that more in assets existed, that 'the work' had never been done, ie proper valuation had never been completed.
I like fsshon's theory that a sliding scale for settlement pertaining to equity's interest hinges upon the work of the examiner being completed. One might think SS is smart enough to suggest a sliding scale to maximize a fair settlement. Even if he agreed to some percentage, the percentage might just be based on proper determination of assets and libilities...and libilities might be going down 'as we speak.'
AIMO, and great work fsshon, and thank you.
I like the way that sounds. Especially the settlement part.
Beardown, 3-0, SUPER BEARS SUPER BOWL!
FDIC and JPMC and WGM and SB,
YOU SHOULD HAVE OPENED THE CHECKBOOKS AND SETTLED THIS THING FAIRLY FOR THE PEOPLE YOU HARMED MONTHS AGO.
AND YOU SHOULD, WHILE YOU CAN, NOW.
U read my mind. Dr. A.
Hey, there he is! That's the spirit diamondguru!! Nice to see your post!!
I WILL HOLD AND CONTINUE TO ACCUMULATE!!! Guess I'll just have to wait for more funds to arrive and add as I can. Thanks for your thoughts. I'll take the safe route.
Thanks thegerman.
Voodoo,
Would, in your opinion, you consider selling a few uq's to buy a few pq's considering the post a few back re 08-31-10, pg 61, settlement discussions? Meaning if shareholders of record as of 08-31-10 flip...to another class...might they be risking their original position? What do you think?
fsshon,
Is all well?
I totally agree, and that is why I withheld my information. Good points.
It does make sense to settle out of court for at least a few reasons, IMO. One potential hold up has to be who is going to pay for the settlement. I can see JPMC arguing that the FDIC should and vice versa. Additionally, these parties may not percieve the pressure to do anything just yet but to continue the court process as long as possible.
The question in my mind is just how damning will be the report from the examiner. Depending on the content of the report, and its severity, the pressure to settle could go up substantially within the next 3-4 weeks, if not sooner.
AIMO.
Thanks Dr. Much appreciated.
And does that mean this $54 BB and change goes toward the asset side of the ledger?
Wonder if he ever felt like touching bases with one Mr. Steve Susman.
Ya, I need to remain coutiously optomistic. I won't get my hopes up until hope is no longer necessary in this matter, if you know what I mean. But if what XOM is relaying is true, it's a boost.
My oh my. Susman may have outdone himself, again.
I remember reading that he has a knack for unveiling case changing information at just the right time, but this is huge. I've known about the chambers meeting since it occured, as well as the subsequent inference to it being related to JPM accounting or PJS valuation, potentially. I didn't have the clarity of the 'it's all over' comment, potential clarity to be safe. To me that is what is huge.
I have to wonder what Susman believed/believes the legal process and eventual endpooint timeline to be. He knows the chess board like a Bobby Fischer. Brings to mind the scene in the movie when the good kid has the mean kid beat several moves before the mean kid is aware of it. I have to feel good about his silence at this point.
I will still remain cautiously optomistic. I will believe we win when I see the money in my account, and I don't mean my trading account! Dang, this might, might just actually happen. Here's to our forces keeping up the full court press to the end.
AIMO, and thanks again XOM.
WOW! Don't yank my chain like that unless you mean it:)!
When put that way, with what seems to be substantial credence behind it, it's earth shaking. I so want it to be true.
So why in the he@# don't they just offer up like a substantial settlement offer, like yesterday? Maybe because time was actually needed to actually make/do the valuations that had never been done properly. Maybe it's all just being sorted out in the silence.
XOM, you know this attorney? Your posts have been powerful, and this one is especially. Am I reading you clearly?
Another informative post fsshon. How did u know I was wondering about the nature of the depositions? :)
Thanks.
yes u did
I want to be a part of it, seeing justice just once.
I know it's been ongoing, stock games and dirty tricks, IMO. I'd like to avoid another March 12 scenario, but should one occur again I will be holding and adding.
I do too, 9-22-10. But I'd like to see JMW, at the EX's recommendation, halt the stock to prevent illegal shennanigans and stock manipulation from even getting started.
Wouln't it be nice if JMW halted the stock on 10-18-10!?
If rosen tries the pre post trick again, then he must have a motive. If the motive is to manipulate stock, then Susman and the EX should be on it. ie, if large buys come in at the pre determined bottom from suspicious buyers, buyers identified from the march 12 fiasco, then Susman and the EX should be prepared to spot this and pounce, if laws are broken.
And again, the bank went into receivership of the fdic, yet by the fdic's own admission, the deal has not been finalized. Further, who was it that bought up the most shares in march? Was it just individuals, like some of us, or was it some party trying to minimize a future payoff? Are these parties post holders? Regardless, don't the same number of shares exist now as prior to this heist?
Is rosen's concern for the righteous stewardship of the payoff? I don't think so. AIMO.
Thanks Gmenfan.
Voodoo, please elaborate on what you posted here. TIA.
RE Rosen and theory of him attempting to depose EC members to determine pre / post holders...thread on Y board etc.
The sale has not finally been closed according to the FDIC, correct? Extensions of the final settlement date, etc.
And one ot he EC members owns 1,000,000 post shares, correct?
Smells like there's something to that point of yours. Good point. Wouldn't be surprised if certain parties didn't want to find out what they would do with that power at an opportune time like say 1st quarter 2009.
Anyone know what bopfan has to say about 09/24/10?
I agree with mordicai. I'm not certain, but suspect THJMW will postpone ruling on the ds or reject it outright. I remember her asking Rosen if he had addressed the hundreds of objections to the ds, or something to that effect months back, if I'm not mistaken. It seemed like there was a tone to her question, yet I'm hesitent to read too much into it.
Nothing will surprise me. I don't want to see mm manipulation to the tune of 20-60 % drop, but must admit I'd buy at low levels in the event she does approve the ds. Not that it matters, but what happens to price per share if the ds is rejected?
All of this is IMO, and do not invest based on statements made in this post.
Is it an arbitrary extension date or is there more to it than that? Like 'we'll close this thing out just before the report is submitted.'
Purely speculation on my part, and AIMO, but interesting. Not a whole lot going on these days that we're aware of. Tempting to handle the fodder!:)
I like that the date has been extended to just before Nov. 1, 2010. Don't know that it means anything, but it is interesting that it's just before Nov. 1.