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that a boy... and best of luck to you.
Yes, you gotta love it :) Does it say "unlimited" discovery. I love that part.
Lets not leave any stone unturned as we might find Dimon and Blair under there :)
Crooked MMs. They did the same thing with the Lehman preferred today... 50,000 shares @ 1.00.
http://ih.advfn.com/p.php?pid=trades&cb=1245977899&symbol=NO^LEHPQ
Quinn Emanuel Prevails in Early Test of WaMu's Billion-Dollar Case Against JPMorgan Chase
http://www.law.com/jsp/tal/digestTAL.jsp?id=1202431774321&Quinn_Emanuel_Prevails_in_Early_Test_of_WaMus_BillionDollar_Case_Against_JPMorgan_Chase
Pure flippin corruption. God that stuff pisses me off.
I don't know if it will be over .13 tomorrow morning as I have heard there is a lot of resistance at .13, but I hope you are right. :)
I think blair is public enemy number 1...
What time is the HALT? Go WAMU!!!
Amen Bill.
Thanks for your response sidedraft.
What would happen to this class if the commons got canceled?
250,000 shares buy of wahuq. WOW
All classes are green right now. Go Wamu!
"If we lose - she'll hate me more or ... If we win - DAMN, i guess get to give more $$$. But $$$ is always falling in her pocket."
sounds like a win-win situation... :)
Overhaul Is Good News For The Sheila Bair Haters
http://www.businessinsider.com/overhaul-is-good-news-for-the-sheila-bair-haters-2009-6
Sorry if this was already posted.
LMAO
mi inglish... now that is funny :)
I really hope we can get this done before September...
Mr. Rifkin will begin in September, based in New York
Here's another place...
http://data.cnbc.com/quotes/WAMUQ/tab/8
Texas Pacific Group
230.1M
$18,871,557 +94% 13.5%
You're right we are all on the bid which helps the MM manipulate the PPS for now, but wait until we get some real numbers.
I know I've been sitting on the bid as I want the cheapies, so I can't complain.
However it does seem like a good time to settle this now rather than later after the market recovers.
Nice job on the calendar. I posted a link to it on the wamuq board too.
It our money and we want it NOW.
Yeah, I thought it was pretty cool and with all the dates.
Court Dates: http://www.my.calendars.net/wmi
Got this from the wamkq board and thought it was really cool.
Courtesy of REALtime64
I have the parlay. Show us the money $$$
Lehman Pays CEO’s Firm Alvarez & Marsal $77.3 Million (Update3)
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By Linda Sandler and Christopher Scinta
June 15 (Bloomberg) -- Lehman Brothers Holdings Inc., the investment bank liquidating in bankruptcy, paid restructuring adviser Alvarez & Marsal LLC $77.3 million in fees, according to a filing with the U.S. Securities and Exchange Commission.
New York-based Alvarez & Marsal, which provided Lehman with its chief executive officer Bryan Marsal, has received the most of any of Lehman’s advisers since it declared bankruptcy in September, according to papers filed today. Lehman’s bankruptcy law firm, Weil Gotshal & Manges LLP of New York, has received $45.6 million for a team headed by partner Harvey Miller.
Marsal declined to comment and Miller didn’t immediately respond to an e-mail seeking comment.
Lehman has paid its professional advisers, including lawyers, bankers and accountants, $171 million from September through April.
The filing shows how lucrative corporate bankruptcies can be for advisers, even when creditors stand to take losses. Lehman may eventually raise $45 billion for its remaining creditors who are owed $200 billion to $250 billion, Marsal told Bloomberg News last month.
“While the Weil and Alvarez numbers are certainly eye- popping, they are probably not out of line for a case that is so large,” said Seton Hall University School of Law professor Stephen Lubben in Newark, New Jersey.
Cash Level Rises
Lehman said in the filing that its cash rose to $9.3 billion on April 30, up about $1 billion from the previous month. More money will come from spinning off real estate and private-equity properties to Lehman creditors, with an eye to taking the unit public as values improve, Marsal has said.
Milbank Tweed Hadley & McCloy LLP, which advises Lehman’s creditors, has received $10.4 million from the investment bank.
Lynn LoPucki, who teaches bankruptcy law at the University of California, Los Angeles, and maintains a database to calculate fees, has estimated that Weil Gotshal could see as much as $209 million in fees from the Lehman case. Overall, the bankers, accountants and lawyers in the case may reap judge- approved charges of $906 million, LoPucki has said.
Those fees refer only to the Lehman holding company.
Separately, James Giddens, who was appointed by the Securities Investor Protection Corp., to recover funds for customers and creditors of Lehman’s brokerage, is accruing further fees.
Adding Up
The cost of administering the wind-down of Lehman Brothers Inc. has been $55.6 million, while Giddens raised about $16.3 billion in cash and securities since the September collapse of the Wall Street firm, according to bankruptcy court documents.
Some $17.4 million of those administrative fees were paid to New York-based accounting firm Deloitte & Touche LLP. Another $14.7 million went to Giddens’s law firm, Hughes Hubbard & Reed LLP, and $12.2 million was paid to Barclays Plc, which bought real estate and Lehman’s North American brokerage operations for $1.45 billion in September.
Lehman filed the biggest bankruptcy in U.S. history with assets of $639 billion.
Weil Gotshal partners charge as much as $950 an hour, according to documents filed in the General Motors Corp. case on Friday. GM paid the law firm $54 million in the six months before it filed for bankruptcy on June 1, the documents showed.
GM gets cheaper legal advice from Detroit-based Honigman Miller Schwartz and Cohn LLP, where partners’ top rates are $710 an hour; the firm will bill GM at only 95 percent of those 2009 rates, according to court documents.
The Lehman case is In re Lehman Brothers Holdings Inc., 08- 13555, U.S. Bankruptcy Court, Southern District of New York (Manhattan).
To contact the reporter responsible for this story: Linda Sandler in New York at lsandler@bloomberg.net; Christopher Scinta in New York bankruptcy court at csinta@bloomberg.net.
Last Updated: June 15, 2009 16:06 EDT
Latest court documents for Lehman Brothers...
http://chapter11.epiqsystems.com/docket/docketlist.aspx?pk=de7ced2b-52e7-4172-92e1-9ec425933bd0
Latest court documents for Lehman Brothers...
http://chapter11.epiqsystems.com/docket/docketlist.aspx?pk=de7ced2b-52e7-4172-92e1-9ec425933bd0
US moves to spur bank buy-outs
http://www.ft.com/cms/s/0/2c49e972-5792-11de-8c47-00144feabdc0.html?ftcamp=rss&nclick_check=1
FDIC - Contradictions And Lies:
http://seekingalpha.com/instablog/387205-ppy/7349-fdic-contradictions-and-lies?source=new_post
Nice going... Your retirement plan is looking sweet :)
Wamu is like the 4 billion dollar man... they will be stronger, leaner, and more powerful than before.
I hope we get to celebrate your birthday with you :).
Happy Birthday and Go Wamu!
Great news as JPM is doing the same thing to Lehman. They are holding on to 17 billion dollars.
What comes around, goes around.
Can you please clarify this for me.
"WAMHQ is the leading series and JPM will need to pay them off I do not know # O/S but the face is $50 and they are the #1 to be paid first. This is why they currently trade at $7PPS."
If they are #1 shouldn't the PPS be much higher. What did you mean when you said...
This is why they currently trade at $7PPS.
http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN0419364120090604
Nine accused of $92 mln U.S. mortgage fraud sceme
Thu Jun 4, 2009 10:01am EDT
NEW YORK, June 4 (Reuters) - Nine people have been indicted on charges of conspiring to defraud Washington Mutual Bank (WAMUQ.PK) and DLJ Mortgage Capital Inc, a unit of Credit Suisse Group AG (CSGN.VX), in a $92 million mortgage fraud scheme, prosecutors said on Thursday.
Real estate developer Thomas Kontogiannis, 60, and eight other defendants are accused of orchestrating fraudulent loans that were subsequently sold to the financial firms.
Federal prosecutors and the FBI said the scheme was centered around property developments that Kontogiannis bought and subdivided from 2001 to 2003 in the New York City boroughs of Brooklyn and Queens.
To finance the projects, the defendants are accused of staging sales of the properties financed by mortgage loans. Bogus appraisals supported the price of the properties, even where buildings had not yet been constructed or had fictional addresses, said the U.S. Attorney's Office in Brooklyn, which is prosecuting the case.
The loans were financed by lenders controlled by Kontogiannis and later sold to Washington Mutual and DLJ, prosecutors said.
Entities controlled by Kontogiannis made monthly payments on the mortgages, ensuring that none became delinquent, until the payments ceased in 2007 with about $92 million in principal outstanding on the fraudulent loans, prosecutors said.
All nine defendants were charged with conspiracy to commit bank and wire fraud, which for each person carries a prison term of up to 30 years if convicted.
Kontogiannis, whose attorney was not immediately available for comment, and several other of the defendants face additional charges including bank fraud and money laundering.
The defendants were set to be arraigned later on Thursday in U.S. District Court in Brooklyn. (Reporting by Martha Graybow, editing by Dave Zimmerman)
No worries. The other BK BANK investment will take care of the rest of the expenses :)
PARLAY!!! Daily Double!!! Exacta!!! Quinella!!!
Monthly share volume report for May now available @
http://www.otcbb.com/asp/tradeact_mv.asp?SearchBy=issue&Issue=wamuq&SortBy=volume&Month=5-1-2009&IMAGE1.x=0&IMAGE1.y=0
I'm still in the process of loading the truck... but it's sure looking good so far.
I understand this play might be further out...but I'm starting to see this to be a better play than wamu preferreds.