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LOL Mehedi! This weekend has offered perhaps the most nonsensical posts of all time! This has been a record breaking weekend!
Hell – why not $200.00 per share? Most peeps averaged in at .15 may be able to live with that! Oh the humanity …
Hope all Dads had a great day! … rs
Josh. Now that we have been invited to the table, I think that we will get more than a few realistic offers and it is up to Susman (with the Equity Committees blessing) to yea or nay the settlement $. God only knows what the EC will hold out for but I would bet my skinny arse that it will not be $50+!
My personal assessment is that JPM will own everything as agreed per a settlement! Just my opinion however … rs
I am familiar with Dr A’s upstanding work – yes! I publicly cheered his outstanding financial analysis that he filed! It was a work of freaking art!
How much relevance does one man’s filing out of a total 4,777 filings have with JMW? The Dr’s filing is/was a superb psychological boom for investors but nothing more in the scope of the case IMO!
Peace. The reason some of us “longs” have responded (after biting our tongues) and have been subsequently pilloried is because the conversation is not reasonable! Posting that $84 a share is a reasonable settlement is so far gone that it should for all intents and purposes be considered OT – LOL! … rs
I am equally puzzled at the pps predictions on the board this weekend! The EC is at the table now which is of course epic! We are in great hands and will be moving in the right direction henceforth.
Now … Where the hell these $50 and $84 predictions are coming from is baffling me! I have always had trouble with Lawrence’s $24 (sorry buddy) and even DG’s 2X (sorry GURU) but I am warming to the $8 - $12 area!
Anyone that is thinking $84+, hell even $50+, is fooling themselves and in for major disappointment! If the market thought that WaMuQ had even a hint, an inkling, a single iota of a chance to reach those heights, we would be trading at $2 - $3 a share right now! Who wouldn’t want in for such guaranteed riches?
Will continue to catch up on the posts, hopefully the chatter becomes more reasonable … rs
I personally do NOT employ the ignore feature as I am mature enough to read every post and take said post for what it is worth! Both Pumpers and bashers alike make me chortle! You know who you are!!! Nothing personal Chief I assure you!
The above tactics may confuse the newbies but I am at the age where I have seen a few things in my life and have come to the conclusion that a post is a post! Period!
Rosen spooked me on 03/12, but not one POSTER has on ANY board influenced or spooked me!
Common sense folks – common sense … rs
Austin. If you believe that at this point, you probably also believe in the Easter Bunny, Superman, and World Peace! … rs
I understand that people have a target price and to each his/her own, but think about this. This BK has been playing for some 22 months now. It took 19 months to get the initial ferociously feeble POR! Since, we have 3 amended POR’s with the most current still useless as hooters on a bull!
Now, enter the EC (Susman)! We are finally at the table. Susman’s resume is powerful and his performance thus-far has matched his reputation IMO! The $64,000 question! Can Susman negotiate this from $0.00 for commons to $24.00? Negotiation is for all involved parties to come to agreeable terms. Unfortunately, this is NOT a mano-y-mano battle. Equity is fighting the FDIC, JPM, and WMI itself!
As I have stated probably too many times than many choose to hear, we will get a bone compared to the real value that we deserve! Will it be $2, $4, $7.50 per share? Who knows!
Also think about this. Save for the pre-holders, the highest anyone is in here in the last 22 some months is .66. Most folk are probably averaged in between .10 and .25 I would wager! Also keep in mind that pre-holders have bravely averaged down since 09/08! Now who would dismiss a settlement of say $4 pps especially if one is post-seizure?
Sorry for rambling on “wang” and all but $24 will only be achieved thru a trial! Not even an examiner will produce such lofty numbers as even his/hers findings will be subject to negotiation and not etched in stone for JMW to rule on IMO.
… rs
Seems the TPG/Bonderman issue is back after 5-6 months of hibernation! If Bonderman is still involved in this, his silence is deafening for a man that supposedly still owns 230 mil shares.
I am not even going to bother DD’ing this issue again as I and several others pursued this back yonder and no definitive answer could be gleaned as the accuracy of pink sheet data is rather suspect and not very well kept-up!
So his silence IMO can be attributed to the following …
• Bonderman bailed many, many months ago.
• Bonderman is in big with the WMI BOD behind the scenes and is somehow driving their cockamamie MO via a back door deal!
I personally believe that he bailed but of course have nothing to back this up … rs
That is how I picture it – LOL! In the grand scheme of things, I guess it doesn’t matter how they attempt to cover-up their discretions, as long as they are willing to pony-up!
BTW: In the spirit of showing our true identities tonight, here is a pic of the wife and I from a few years ago. She is a Steeler fan – I am a Charger fan!
… rs
I only know a few posters here that would have trouble with $18.88 per share! Hell I would be fine with $8.88 pps!
Overall, today was a great day as we finally have the EC involved in talks. Team Susman is living up to their lofty reputation and I suspect things will only get better with each passing day! … rs
This looks great Aladin! Gotta hand it to Roberta! I must reiterate however, as much as I want an examiner, I only want him/her “examining” for a couple few weeks tops! IMO, the threat alone of an examiner anally probing (sans anaesthesia) the three stooges (JPM, FDIC, and WMI), will finally propel good-faith negotiations and reap the settlement that we are deserving!
The FDIC and JPM are guilty on many levels and the WMI BOD is guilty of lethargy and unadulterated mass stupidity! Do they want even a hint of bad exposure via an examiner – I think not! … rs
I agree Erevno! The first POR proffered with the EC at the neg-table will not be a gusher! I do think it will include commons however - perhaps a buck or so a share! My gut tells me that Rosen will want to exclude commons on this offer but my thoughts are that he knows Susman will not accept anything less than a POR that includes all equity classes – however little for commons!
Then we go from there - step by step … rs
I believe what we all have in mind but have not yet addressed on the board is the following. With the EC now officially invited to the negotiation table, how does Weil/Rosen acknowledge their to-date lies and deceit? How will they explain away the billions of dollars (that have been thus-far hidden) that they will need to offer equity to at least initially appease Susman in the next few weeks? Did the BOD suddenly remember there was a few billion buried in the back yard of the bank? Did Rosen’s dog eat a crucial page of the subs financials? JD just yesterday found religion and will be glad to donate a few billion from his personal coffers! I could go on …
I am just ever so curious as to how they will present the extra funds now that they have to … rs
I have been catching up on the posts in chronological order (oldest to newest – voodoo) and now see that most items have been pushed back. The crap-fest continues in earnest UZ! … rs
Voodoo. ??????? … rs
Tomorrows hearing promises to be mondo based on all of the recent filings and what is currently on the agenda!
A big thank you in advance to our iHub contingent that will be texting, tweeting, and taking notes tomorrow for the benefit of the cause! … rs
Good evening Cat you little vixen! I have not received any 4 ½ lb packages as I did not object to a POR or DS! I mean, I object, but did not mail-in my objection(s)! I hate being on mailing lists - LOL … rs
I am having a hard time wrapping my pea brain around this 502(d). I am hoping for an explanation by JMW in court tomorrow.
Per http://federalevidence.com/resources502
FRE 502(d) Controlling Effect Of A Court Order: FRE 502(d) recognizes that a federal court may enter a confidentiality order providing "that the privilege or protection is not waived by disclosure connected with the litigation pending before the court."
… rs
Motion Pursuant to Local Rule 9006-1(e) to Shorten Notice of Motion of JPMorgan Chase Bank, N.A. for Entry of a Protective Order with Respect to Plan Objectors' Requests for Discovery
http://www.kccllc.net/documents/0812229/0812229100616000000000030.pdf
Interim Order Pursuant to Federal Rule of Evidence 502(d)
http://www.kccllc.net/documents/0812229/0812229100616000000000029.pdf
(I) Supplemental Response of JPMorgan Chase Bank, N.A. to the Equity Committee's Motion for a New Rule 2004 Investigation; (II) Opposition to Motion of Consortium of Trust Preferred Security Holders to Compel JPMorgan Chase to Produce Documents; and (III) Motion of JPMorgan Chase Bank, N.A. for Entry of a Protective Order with Respect to Plan Objectors' Requests for Discovery
http://www.kccllc.net/documents/0812229/0812229100616000000000028.pdf
... rs
Second Supplemental Objection to the Disclosure Statement for the Fourth Amended Plan of Affiliated Debtors
http://www.kccllc.net/documents/0812229/0812229100616000000000023.pdf
Sorry if this was posted previously .... rs
JPMorgan Chase Bank, N.A.'s Limited Response to Debtors' Objection to the Proof of Claim of Plaintiffs in the Putative Class Action in in re Payment Card Interchange Fee and Merchant-Discount Antitrust Litigation (Claim No. 2812)
http://www.kccllc.net/documents/0812229/0812229100616000000000021.pdf
... rs
Motion of the Consortium of Trust Preferrred Security Holders to Shorten Response Time and to Shorten Notice for Hearing on the Consortium's Motion to Compel JPMC to Produce Documents
Motion of the Consortium of Trust Preferred Security Holders to Compel JP Morgan Chase to Produce Documents
The United States Trustee's Response in Support of the Motion of the Official Committee of Equity Security Holders in Support of an Order Directing Appointment of an Examiner Under 11 U.S.C. § 1104(c) [re: Docket No. 4644]
http://www.kccllc.net/Docket/SearchResults.asp
The docs are really rolling in on KCCLLC ... rs
Good question – I do not know but it would be great if JMW read this aloud in court to get the attendees overall reaction! Our iHub contingent would be laughing their asses off and it would probably even put a smile to Rosen’s face for a second or two ..... until he objects! LOL … rs
Another one: Objection to Debtors Application of Weil, Gotshal, & Manges LLP as Attorneys for Debtors for Allowance of Compensation for Professional Services Rendered Filed by Anthony Cavalano
http://www.kccllc.net/documents/0812229/0812229100616000000000003.pdf
... rs
UMAW. The email was not from Rosen, but From: Glueckstein, Brian D. [mailto:gluecksb@sullcrom.com]! It still doesn’t take away our disdain for him however – LOL … rs
Hope things go well with you Oil! You are a rock! I have been somewhat out of the loop the last few weeks as my son is out of school, my 85+ year old Dad just had knee replacement surgery, and I have been commuting many miles as many relatives have been in state!
BTW: I am scheduled for a revolting and most denigrating colonoscopy next week! Rosen has already primed me for this vile and reprehensible procedure if you know what I mean – and I think that you do …
Sorry for being slightly OT and preparing for beddy-bye … rs
Lebosco! I thoroughly enjoyed your tweets http://twitter.com/UniquelyTrill during the last hearing! Please bring an extra battery this time my man – LOL! Some may have an issue with the R-rated language but the live, emotional, and veracious tweet-by-tweet is music to the ears of folks that do not dial-in! … rs
That is some erudite and righteous training for your daughter UZ!
Seriously though, I wasn’t even aware that kids were allowed in BK court but even if they are, I wouldn’t bring your daughter! If it goes long, she may get antsy and take away from your “moment”!
Just speaking as the father of an 8 year old boy - the only time my son will sit still for over 1½ hours is at a movie theatre – and it has to be a damned good movie! The lawyer babble will just bore her to tears faster than you can say Ticonderoga! … rs
Damn righteous BIZ! I haven’t been in this since 03/09 to jump ship! I like to call this a labor of love!
If one believes in justice and of course the accumulation of painstaking DD, there is NO reason to worry oneself into a tizzy regarding pps!
We are fortunate to have Susman at the helm! This guy is Bruce Willis in the original Diehard x 10! … rs
Freddy! Sorry but I had to respond! The pps will only go to $3 when/if settlement occurs! If you are playing this as a normal stock and expect grandiose riches based on charts or news, you are playing this most incorrectly!
Must I remind you (and all), bad news = a behemoth drop in pps! Good news = not much!
Currently the pps has excited quite a few including me (I am easily excitable to a point) but I think that you have been around awhile to know that nothing but a settlement will proffer a pps >.70 (or less)!
As for being open minded, I and several dozens are here until the end! It is a do or die mentality! If Rosen ultimately screws us (as is his want) we lose! If JMW sees things our way (DD), we will be crapping in high cotton! … rs
I tend to disagree! It was NOT just another 187 pages of BS but another 187 pages of BR! LOL! I did not read the damned thing either – not worth my time!
Gotta catch up on the posts! Seems to be a lively evening … rs
Fourth Amended Joint Plan of Affiliated Debtors Pursuant to Chapter 11 of the United States Bankruptcy Code
http://www.kccllc.net/documents/0812229/0812229100614000000000012.pdf
Huge File
... rs
Disclosure Statement for the Fourth Amended Joint Plan of Affiliated Debtors Pursuant to Chapter 11 of the United States Bankruptcy Code
http://www.kccllc.net/documents/0812229/0812229100614000000000013.pdf
... rs
Gee, thanks - we didn't know! ... rs
Damn – that is some dumb ass shite! As you said, they are good lookin’ and very doable! LOL!
Glad you enjoyed it FIX! For my next act, I will now make an elephant disappear! Did you hear this one – a guy walks into a psychiatrist’s office … I got a million of em folks … Take my wife – please … Don’t forget to tip the waiter on the way out …
Rick