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As a business owner I would rather buyout/compensate 100 shareholders instead of 1000 shareholders.
We all know this is not your typical BK scenario. I don't think the PPS means anything at this point. This stock is not going to go up gradually, it will explode. It may go from 5 cents to 5 dollars or 12.00 overnight. Either you are in, or you are out.
That is the way this one is going to play out. We are talking about billions here, not millions.
Billions move in dollars and millions move in cents.
Thanks for doing that islandcat.
What are you trying to accomplish here. We are all here because we are adults and capable of making our own decisions. Go to the JPM board... I'm sure they would love to listen to your gibberish.
You can't even speak english, so why would anyone listen to you.
and I thought I read that the PQs can't be converted. You're right... KQs will get paid before commons btw.
I will take that. Put the FDIC against the wall and tell them to grab their ankles.
Did you guys see the figures Garry is tossing around on the yahoo board?
http://messages.finance.yahoo.com/Stocks_(A_to_Z)/Stocks_W/threadview?m=tm&bn=86316&tid=100526&mid=100526&tof=1&frt=2
Hopefully when this hits... you will be able to hire a live in maid to handle that task. :)
This WILL NOT go in front of a jury...Guaranteed. They are NOT going to expose themselves. This will be settled...not sure what the settlement will be, but it will be settled out of court.
Jackson... LMAO... I love the one about Blair's bush... too funny.
We all know she is packing one too.
I remember reading a post from Diamond that he constructed a bunch of the wamu banks. You might want to check with him.
Diamond, is that correct?
Per Bopfan...
http://messages.finance.yahoo.com/Stocks_(A_to_Z)/Stocks_W/threadview?m=tm&bn=86316&tid=99565&mid=99565&tof=1&frt=2
Riv and Yoda make good points. Though the preferreds are owed liquidation the obligations will be rolled over with past dividends paid as additional consideration for this accommodation by the preferreds. There may also be higher interest rates given these securities as their original rates clearly were inadequate to compensate them for the risk of default.
Initial market price will depend on the amount of WMI's settlement pot. Subsequent market price will depend on WMI's acquirer. The prices of the preferreds might actually drop from the initial post settlement highs if WMI is acquired by a 'weak' acquirer. For example, if WMI is sitting on $30 or $40 billion in cash the shares will be selling at par, but if WMI then sells itself to BofA, despite the WMI capital infusion to BofA, the prices could drop given BofA's franchise and overall health. I wouldn't anticipate such a drop if GS acquired WMI because it is much stronger than BofA, but that's just my view
OTS Acting Director Polakoff Put On Leave
The heat is on... Go WAMU!!! They are dropping like dead flies.
http://online.wsj.com/article/BT-CO-20090326-718651.html
WASHINGTON (Dow Jones)--The acting director of the Office of Thrift Supervision has been put on leave pending a review of the agency's role in the backdating of capital infusions by some banks, the agency said Thursday evening.
OTS said in a surprise statement that Scott Polakoff, who has been serving as acting director of the OTS, would be replaced by OTS Chief Counsel John Bowman during the review by the Treasury Department.
The OTS, a division of the Treasury Department, has come under fire after it was revealed last year that the agency had allowed IndyMac Bancorp Inc. (IDMCQ) to backdate a May 2008 $18 million capital infusion to the first quarter. IndyMac failed a few months later, a collapse that cost the Federal Deposit Insurance Corp. $10.7 billion, the costliest failure in U.S. history.
A subsequent review of the issue by the OTS uncovered four other cases of backdating by banks, cases which the agency said in a January letter to U.S. lawmakers "were not acceptable to current OTS standards." Allowing the banks to backdate capital infusions to earlier quarters could allow firms to avoid regulatory penalties for having too little capital.
The Treasury Department Inspector General is investigating the matter, and it is unclear what sparked Polakoff's sudden departure. He appeared Saturday at a community banker convention in Phoenix and was scheduled to give a speech next week to the American Bankers Association.
The replacement of Polakoff, who has been acting director since John Reich stepped down as head of the agency last month, comes at a sensitive time for the OTS. A number of the largest institutions it supervised, including IndyMac, Washington Mutual Inc. (WAMUQ) and Downey Savings and Loan, failed last year, leaving many to question whether the agency and the thrift charter is still needed.
Polakoff also has come under fire for the agency's inability to prevent the problems at American International Group Inc. (AIG). The OTS was a top regulator for the giant insurance company, which eventually needed a huge government bailout.
Polakoff increasingly has been the public face of the OTS, appearing in recent weeks before multiple congressional committees and speaking to bankers around the country.
"If we look at this exercise, this task, this challenge and any other regulators look at it from a territorial perspective, the process will fail," he told hundreds of community bankers in Phoenix on Saturday. "If, however, we look at this very important exercise with no concern as to what initials, what acronyms, what agencies remain, but instead what's best for all of you, and what's best for the economy, we will succeed."
-By Michael R. Crittenden, Dow Jones Newswires; 202-862-9273; michael.crittenden@dowjones.com
Z, can you add this as a sticky note or the ibox so others can see it?
Thanks.
THANKS :)
http://www.law.com/jsp/tal/digestTAL.jsp?id=1202429373614
The American Lawyer: Litigation Daily
Battle Brewing over Firesale of WaMu Banking Assets
By Ben Hallman
March 25, 2009
In one sense, at least, Lehman Brothers's precipitous Chapter 11 filing was a blessing in (very heavy) disguise: The investment bank was involved in the sale of its assets in the days and weeks after it entered bankruptcy. Washington Mutual wasn't as fortunate. Seized by the Federal Deposit Insurance Corp. on September 25 last year, the bank had no control over the disposition of its core banking assets, which were quickly sold to JPMorgan Chase & Co. for $1.9 billion.
Now that hasty sale has become the subject of what promises to be protracted litigation. At its core is a question: What, exactly, did JP Morgan buy on that fall day?
The first salvo was fired last week in Washington, D.C., federal district court by WaMu's holding company, Washington Mutual Inc., which filed for Chapter 11 bankruptcy protection the day after the FDIC seized the bank. The holding company, represented by Adam Strochak and David Benz at Weil, Gotshal & Manges, filed a complaint against the FDIC, seeking to recover billions of dollars in tax refunds, capital contributions, and trust securities. Among the holding company's many demands for relief is an order directing the FDIC to provide a list of all the assets sold to JPMorgan. WaMu's core assets were sold off so quickly, it seems, that those left behind aren't quite sure what was taken.
On Tuesday, JPMorgan Chase, represented by David Braff at Sullivan & Cromwell, filed a countersuit against the FDIC and the holding company in Delaware bankruptcy court, stating that the bank wants to "protect its economic interests in the assets."
We've placed calls to the lawyers involved. We'll update the post when we hear back from them.
http://www.law.com/jsp/tal/digestTAL.jsp?id=1202429373614
The American Lawyer: Litigation Daily
Battle Brewing over Firesale of WaMu Banking Assets
By Ben Hallman
March 25, 2009
In one sense, at least, Lehman Brothers's precipitous Chapter 11 filing was a blessing in (very heavy) disguise: The investment bank was involved in the sale of its assets in the days and weeks after it entered bankruptcy. Washington Mutual wasn't as fortunate. Seized by the Federal Deposit Insurance Corp. on September 25 last year, the bank had no control over the disposition of its core banking assets, which were quickly sold to JPMorgan Chase & Co. for $1.9 billion.
Now that hasty sale has become the subject of what promises to be protracted litigation. At its core is a question: What, exactly, did JP Morgan buy on that fall day?
The first salvo was fired last week in Washington, D.C., federal district court by WaMu's holding company, Washington Mutual Inc., which filed for Chapter 11 bankruptcy protection the day after the FDIC seized the bank. The holding company, represented by Adam Strochak and David Benz at Weil, Gotshal & Manges, filed a complaint against the FDIC, seeking to recover billions of dollars in tax refunds, capital contributions, and trust securities. Among the holding company's many demands for relief is an order directing the FDIC to provide a list of all the assets sold to JPMorgan. WaMu's core assets were sold off so quickly, it seems, that those left behind aren't quite sure what was taken.
On Tuesday, JPMorgan Chase, represented by David Braff at Sullivan & Cromwell, filed a countersuit against the FDIC and the holding company in Delaware bankruptcy court, stating that the bank wants to "protect its economic interests in the assets."
We've placed calls to the lawyers involved. We'll update the post when we hear back from them.
Valid question :) I was wondering the same thing.
Just gives us more time to accumulate at these cheap prices. What a wonderful opportunity they are giving people.
5.00 a share to possibly make 1000.00 a share. What a deal.
Can't find that return in Vegas or the real estate market.
MMs let her GO....
I'm seeing it in Scottrade too.
How many buys does it take to move this flippin thing a nickel. Come on MMs give us a break.
Believe me they will figure out a way to spin it in JPM's favor.
Go Wamu!
I agree. The JPM filing only makes our case even stronger against the FDIC. IMHO
But I do think it's traded on Berlin exchange... correct? We should get some sense of direction there tomorrow night.
Amen. I agree with that.
The way this thing is trading is new to me. I have never seen anything like this. The bid and the ask have not changed after all of the buys. I hope we close much higher than 4.45.
Even Bopfan is blown away by the manipulation.
Just a what if...they did this just to create fear and buy in for a cheaper price. Now that makes sense to me.
They could have done this at any time, but now would be cheaper than later.
My comments to the google board.
Good minds think a like. I was thinking the same thing but didn't
post it. It is very possible. The timing of the filing seemed very
strange to me. I have a had time hard time understanding why a company would
submit a filing to max out their authorized shares all at one time
when their PPS is so low. It just doesn't make sense. They haven't
even used all of the OS yet. I would not be surprised if the overall
vote turns out to be NO.
On Mar 13, 5:45 am, Sekhar <csek...@gmail.com> wrote:
- Hide quoted text -
- Show quoted text -
> I did vote NO for the share authorization.
> But, here is my gut feeling. Matt knew that this isn't going to happen
> - increasing # of shares from 1 Billion to 7 Billion. So he wanted to
> throw it out there to scare away people and buy in at a lot cheaper
> price. And when its all done, he gets a huge bargain. I bet he will be
> pumping in a whole lot in few days.
> Just a thought! Your brains please..
This is the time we have all been waiting for... I hope everyone walks away with some serious ching ching. Best of luck to everyone and GO CBAI!
This could jump start the market into a rally.
New discoveries in deriving stem cells opens door for storing and preserving for future health emergencies
http://chattahbox.com/health/2009/03/05/new-discoveries-in-deriving-stem-cells-opens-door-for-storing-and-preserving-for-future-health-emergencies/
News for 'CBAI' - (Cord Blood America Top Stock Performer in ETF Innovators Global Stem Cell and Regenerative Medicine Index)
SANTA MONICA, CA, Mar 05, 2009 (MARKET WIRE via COMTEX) -- On the day that
President Obama's White House Health Care Summit commenced, Cord Blood America,
Inc. (OTCBB: CBAI), the umbilical cord blood stem cell preservation company
(http://www.cordblood-america.com) focused on bringing the life saving potential
of stem cells to families nationwide and internationally, reported that the
Company, now listed on the ETF Innovators Emerging Stem Cell Index of
U.S.-listed stocks, is the top stock price gainer year-to-date, up 279.2
percent. For more information, see Cord Blood America's Social Media News Room
and Blogs at Intelligendo.com.
The analysis is available at:
http://www.biomedreports.com/articles/most-popular/594-analysis-of-stem-cell-index-ytd.html
The table includes statistics for the 40 companies in the ETF Innovators Global
Stem Cell and Regenerative Medicine Index. Cord Blood America recently announced
a successful debt restructuring and projected cash flow positive financial
results. ETF Innovators is noted for creating new global equity indexes with a
focus in the healthcare industry. ETF Innovators tracks the total market value
and stock price changes as an indicator of investor and trader sentiment toward
the stem cell and regenerative medicine space.
"We are pleased by these results and the market's reaction to our strategy. We
will maintain the focus of strategic organic growth, accretive acquisitions and
de-levering the balance sheet in 2009. We strongly believe also that the Obama
Administration will soon lift restrictions on Federal funding for stem cell
research, which really should spark interest in the sector," said Matthew
Schissler, Founder and CEO.
About Cord Blood America
Cord Blood America (OTCBB: CBAI) is the parent company of CorCell, which
facilitates umbilical cord blood stem cell preservation for expectant parents
and their children. Its mission is to be the most respected stem cell
preservation company in the industry. Collected through a safe and non-invasive
process, cord blood stem cells offer a powerful and potentially life-saving
resource for treating a growing number of ailments, including cancer, leukemia,
blood, and immune disorders. To find out more about Cord Blood America, Inc.
(OTCBB: CBAI), visit our website at www.corcell.com. For investor information,
visit www.cordblood-america.com.
SOURCE: Cord Blood America
Copyright 2009 Market Wire, All rights reserved.
-0-
SUBJECT CODE: Medical and Healthcare:Healthcare
Medical and Healthcare:Surgery and Treatments
Pharmaceuticals and Biotech:Trials
Pharmaceuticals and Biotech:Drugs
Pharmaceuticals and Biotech:Biotech
Sorry, It appears to be dated for March 2nd 2009. We are now getting news for the future :)
http://www.latimes.com/features/health/la-he-cordblooddonate2-2009mar02,0,6397428.story
Good catch. I missed that :) No need for outdated material.
Good luck with that.
This stock is manipulated by the MMs every day.