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Escrow number I have as follows
Comm 939ESC968
P 939ESC992
K. 9393ESC84
I think probably looking from two different angles.
1) Assume LT has extra new shares available. LT will give you the same ratio of shares as LT gave you before. Since LT have already calculated your ratio based on all four, p, k, q, dimeq (or what you have) stocks you had before then converting to new shares.
2) Since your accounts still have the same share number per old shares, such p, k, q, that are your escrow except dimeq. Then LT will give you cash rather than share based on the exact number you have as your original numbers. Assume LT has 1B coming in. Then LT will figure out based on 75/25 ratio rule to start with, For examples, common gets 2.5B, and all other preferred shares 7.5B. Once separate common and preferreds, then LT will divide by total number of escrow number for preferreds, and common to determine how much cash per category per share. It's easy to calculate common, because you will get whatever based on the number of common shares you have.
As regards preferreds, 40% goes to TPS ( i.e. 0.4B), 30% goes to p( i.e. 0.3B) , and 5% goes to k ( i.e. 0.5B).
Yes, you're right. Conversion can be in all forms from IRA to Roth, just the matter of paying tax.
Wow, congratulations, yes, do it ASAP. Otherwise, later broker will quickly smell smoke. Then.....
You're better, I have none in my past IRA.
Wow, we are one more step closed to coffin.
Please do so and let us know the results because I am not qualified. A moth ago, someone has successfully done it and posted here. Someone was rejected by scotrade because the broker said the money is coming in (???). I am with ML.
I think you could just for the purpose of transfer from traditional to Roth. Open a new Roth, either a working income deposit as cash or transfer. My adviser said the IRS only recognize cash.
You do not have to if your transfer from IRA to Roth. If you just want to deposit cash to ROth, then you need working income at limitation $6000 (??) annually.
Last year and previous years, my wife and I convert all traditional to Roth because I have my own NOLs. There is no federal tax but have state tax because I moved to another state.
You do not need working income for transferring traditional IRA to Roth IRA. Sorry, I was not clear on last post. The only thing to do is pay tax.
I remember while I spoke to my financial adviser, who said the 5 year limitation applies to traditional IRA, not Roth IRA. In other words, as long as you set up traditional IRA more than 5 years, it does not affect your transfer if your Roth is just set uo.
I hope he is right. I did not try because I am not qualified because my escrow is not in the traditional IRA, it is in investment accounts.
You ask your broker to transfer your escrow from IRA to Roth IRA immediately. As long as your IRA account has been set up more than 5 years, you are qualified to do so, including shares or cash. If there is cash, you have to pay tax. Since escrows have Zero value, do it ASAP.
However, I could not transfer escrow from investment account to IRA because IRS only recognize cash not stocks.
Also, if you are retired without working income, then you are NOT allowed to transfer neither cash nor shares.
That's true, but we are going to be wiped out.
The new RadioShacks will be out, enjoying NOLs. However, could our Old and Cold shares be survived?
Thanks for info. GLTA
Someone posted here said that FDIC could seize wamu bank's assets but not her subsidiaries' assets.
Actually, wamu had no equities while the new shares were issued. Only 4 HFs provide $200 million loan to New Wamu. At that time, I thought HFs tried to save NOLS. But, could turn out some hidden assets as a lots of discussions on iHub whih board. For example, even wahuq were only paid 60% now. LT even issued run-off notes to delay the payment.
I have 80K of Lehman's CTs. Hopefully, you are right.
Someone posted here before, saying Lehman's CTs are different with wamu's CTs. It is really beyond my knowledge. If so, the person means that Lehman's CTs are not equities.
Yes, wamu's ct is treated as equity per waterfall theory ( before preferreds and common).That's the reason that HFs manipulated CTs in a very sophisticated way in order to get all NewWamu. Even HFs tried to wipe out individual retailer holders.
At that time, EC attorneys went through a lots depositions. Judge was pretty sure the the HF got involved in inside trading. Therefore, the penalty was to set a cap and no new shares. So, the HFs quickly sold out the CTs. Someone got it around $1.90/share vs pay-off at $34.50/share.
The only concern that I have is how much left. During the liquidating MBS by JPM that was writing off those bad MBS.
WMI reported its consolidated B/S had net assets about $24B ( 32 - 8 ) before BK. The write-off by JPM is more than 24B.
???????
Like Doc said the concept was killed. At the end, Judge put the cap on wahuq at $10.51/share plus (if) interest at FJR.
Most HF sold the Wahuq, and jumped to buy p and k preferreds. They know P & K will get new shares.
Like Side said that I got cash and bonds. All Wahuq are going to be paid out on 4/15/2015. I don't know bond could be sold or not, never tried.
Follow me how the wahuq gets paid.
A) In the beginning, 4 HFs bought most wahuq in order to control the NewWamu through the following actions.
1) gifted bunch of wamu's assets to JPM free, such as visa, $4B deposits, BOLI/COLI, etc. The reason is that the residual value after BK is NOT sufficient to pay off CTs.
2) Instead of asking a FV ($50), HF set up a cap at $34.50/share with interests.
3) in order to get shares for NewWamu, the holder has to have at least $2 million worth of Wahuq.
4) in the meantime, RosenCrap said WaMu had no value. So, everyone sold wahuq, and HFs bought whatever available on the markets.
B) An individual Mr. Toma, provided evidence to BK judge for inside trading by those 4 HFs.
C) Judge ruled out wahuq holder the cap of $10.51/share, and got NO new share from NewWamu. So, the preferreds and common got escrow and new shares.
D) the price of wahuq was $21-23/share stably for a long time, After Judge' decisions, then HFs sold all the Wahuq on markets. Once a time, the price dropped to$1.90.
So, if Mr. Toma did not point out inside trading, then HFs should have all NewWamu because all the debtors were paid in full, except CTs. CTs are equity and automatically take over NewWamu.
In the beginning, everyone thought HFs' goals were shooting for $6B NOLs. It turns out more than we thoughts. Wamu may have $100B MBS.
Be careful, someone pointed out that Lehman's CTs are different than wamu. It's beyond my knowledge net. No comments.
GLTA
As regards dime warrants, please check the iHub board "dimeq" from Linda1 post $7490.
Even like you said that the unsecured bond's chances are slim to nothing.
From my understanding, it is part of P&A. I may be wrong.
However, I do not understand why LT still keeps 2.9 million shares for future settlement for class 19 to 22 per PR yesterday.
You may be right, I probably missed it.
The numbers are so accurately per JPM 10K. From 2008 till now, the mortgage rate is so low. IMHO, it took several years to have refinance/repurchase the mortgage. Hopefully, it is a recent letter, then BINGO. Thanks for your info, GLTA
When is this letter dated?
PN came out yesterday regarding recovery for class 19 to 22. I do not know the news is related to you.
Probably, the rewards are the interests based on the FV of your escrow annually. LOL.
Hmmmmm, interesting, catch my eyes, need more thoughts.....
By the way, two things were discussed on WMIH board.
1) Our lawyer, through one of the posters, urged us to accept (opt in) the plan. The lawyer said it's the best for shareholders. At that time, I thought suckman was the same as Rosencrap = ALL THOSE BAD LAWYERS.
2) Someone pointed out it only took half hour to convince TPG (invested 4B) preBK to accept the plan. At that time, I have no idea why TPG would do so. It seemed that TPG must be out of their mind. Hmmmmm, if everything comes true, money back to LT, then, TPG knew something we do not.
As far as your warrant, I do not know your relation with LT. During the recent discusion, everyone who said "yes" points our recovery from LT.
GLTA
I opt in my dimeq so that I got shares for WMIH. Therefore, ML does not show any escrow in my account. I am not sure what is your decisions? Linda1 probably could answer your question.
I heard someone said that there is no cap. Hopefully, it is true. If I only get a full FV, I am satisfied. Thanks for your alerts. GLTA.
Hi, Linda
Some points have been discussed as follows
1) JPM took WMB's subsidiaries assets ( i.e. MBS ) but have to return because JPM can only take failed bank's assets, not it's subsidiaries.
2) JPM released 100B+ at the end of February. Most likely, it went to FDIC-R. Then to a bridging company called Trackeray
Bridge III. Then to WMIHLT.
3) JPM showed three items on its 10K end at Dec/2014. JPM never showed it before. On this 10K, JPM listed 3 Items ( repurchased, liquidated, still coming back) of MBS total up 150B. From 2008 till 2014, JPM charged FDIC 2.5% service fee on those MBS. All those MBS are secured by WMI.
4) It happened probably during the final PA £ A between JPM and FDIC after sept. 26, 2014.
5) nothing is concrete yet. A lot discussion the escrow holders would get paid in full or more .
6) On and on, people showed a lot of their DD, but also somebody do not believe it.
Peter
Great, thanks for your comments. GLTA
Thanks a lot
I feel that IMHO as follows:
WMIH goes nowhere unless she is associated with WMIHLT ( as casher). These two have to work together for a win win case. Why KKR/Afliates/ Citi put so much efforts only for $6B NOLS, they must have higher goals. Actually, NOLs only save 35% due tax. Plus, the real market value is approximately another 70% off. Without a 15% ROI, HFs would make a move annually. How much that's marriage could make, really not that much.
On the other hands, if LT gets a lot of cash, why do we need new partners? The answer is their expertise. LT is the cash provider, let WMIH makes fees and profits as revenue. That is huge and it is a long term business. That is the reason there is no feedback from WS yet, IMHO.
Hi, VC
it seems we will get paid, or I am wrong.
Since you are an experts in this stock, do I get paid as acquired by 5/01/2013 as a late player?
TKS