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Thanks your explanation. Appreciated, GLTA
I wish your assumptions are correct. However, could LT redeems the FV plus accrued interest to preferreds, that is it. As regards the common, IMHO, pay the same divi as pre-bk.
Yes, I read this letter before, someone posted here.
The value shown on my ML account is Zero without escrow. It is different as "XXIH". Do you see any possible recoery? TIA
Sorry, it is iHub WMIH, need coffee now.
You may see a full recovery. I opt in all my dimeq, i got no escrow for my dimeq, but go escrow for P and K.
For the recent discussion in WHMI board, some people are saying there are 100B+ off the B/S and will be returned to LT. If so, court should recognize your guys rights.
Got you, tks
But, $150+ B to FDIC from JPM does not belong to WMI, it is depositors' money. Is it possible all MBS purchased / issued were using regular depositors' money. Legally, I don't know.
WOW, interesting.
Totally agreed. It is risky in unsecured bonds.
I may be wrong. RSH has $250 millions secured debts.
Sorry, should be Bid/Ask 7/8
The first order was executed yesterday at $6.25. Now Bid/
Ask is 8/7
Could the preferreds ( P & K ) paid in full plus interest, and u receives more stocks from WMIH?
Appreciated your comments. TKS.
Thanks
That's. I'll let you know if it is filled.
I am not bashing GTAT, but do not like TPG holding DIP. If it is held by Apple, it is fine. You know TPG is not in charity business. They are bad HF. I still hold 5000 commons, and will not increase anymore.
My order for RSHC bond is still with Etrade, not filled yet.
Hardasset said this one may not have chance. I respect his opinion all the times.
However, this is the only one I could find available on market. Ask/Bid $7.73/6.25.
Whenever I get involved with bonds and preferreds, I might have some chances. Started with AIG ( not BK yet) sub bond, I was OK. Now, I am hopping wmih and Lehman preferreds could get something.
Without EC, I probably will try a little bit on common, just like playing lotto. However, I got a lot of criticism on GTATQ board. I bought some commons, but quite talking on GTATQ board.
You are absolutely right. I always have a bad luck about commons. As regards the bonds and preferred, it is better.
Thanks a lots.
Does bond have any chances? TKS
That's right. LT + WMIH = WIN WIN case.
2.5% annually plus 20% profit.
Don't forget BOLI/COLI too. May be worth a little bit high of pps today because MBS had trouble in 2008. Even a dollar or two helps. Thanks you remind us.
Thanks, it makes sense. But why? Devils are in the details.
Interesting...
It is a tricky questions. We do not know how the debts been generated initially. But I could smell this hanky panky.
Lehman probably went through more than two doors, asking 1 penny for 1 dollar MBS from affiliates, and in return to ask a full payment by affiliates. In 2008, nobody wants to buy MBS, and it's a good return. Refinancing played a big role to save MBS, especially those were not from FnF.
No, I did not say that. I shall wait till EC is announced. That is my standard.
Because my investment only focus on penny stocks. Once DIP pops up, bring back my bad memories. Just alert people to watch out. DIP guys are not in the charity business. Even corporate bond generates (BBB+) 6% interest.
Good luck, I am involved more than 20 BK cases since 2008. I am a hunting dogs only trace blood. No fun for BS just wish people share my experience. Once the judge proves EC, it is time to buy in.
Do not worry. You might not see we make huge profits based on penny cost. You might get your initial investment back in FV. The questions are where $300B go? Like wamu? Who knows?
JS said $300B were returned to creditors. Yes, but you never know who are those creditors. Is it possibly include Lehman itself? Those MBS are secured. At the present, it is much worth.
Per wamu's case, the default rate is around 25%. Lehman might get 300B x 75% x 70% (not belongs to Lehman) = 175B for creditors, and not that far anymore.
Hopefully, everything is peaceful.
Regardless people has escrow or not, everyone benefits. Escrow gets 80% after paying out all debts and claims. Also, I truly believe HFs ultimate goals is to get cash for investment. Someone's believe that HFs shoots for NOLs. Yes, SH love to see it, but That is HFs worst choice since they did so many weird decisions during BK processing.
Not much left there to generate income. Most MBS are either liquidated or repaid.
WMIH plus HFs can generate 2.5% fixed income annually from (if there is any ) from WMIHLT and 20% profit for any profit they invest. It is also a long term revenue stream.
The same here.
Plus corresponding interests.
Your theory does not go far once the NOLs are exhausted. The market price foe 6B NOLS probably is worth 1B. First, how many companies could they buy especially a profitable entity. Second, if HFs bought the wrong firm resulting losing money, I could not image what those HF do? Dumping hundred million shares on market? WMIH is back again as a shell? Why do they take so much efforts with a very short life?
Something got to be higher.
Is it possible that old WMIH is both management and investors?
Exactly. HF makes 2.5% managerial fee annually, plus 20% of profits for the investment. Isn't it the first class we learned there.
No, first, if you were HF, no NOLs pay 35% tax. Why you pay exact tax with or without tax. Someone here mentioned 6B NOLS are only worth 1B at the market.
Second, 1B has no incentive for all the activities since beginning. Almost be caught for inside trading. Ask yourself why HF give most things free to JPM just for NOLs. The gift is more than NOLs.
No, people anticipate the escrow money. Remember, everyone in this business is buying the future.