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Sorry CWG but you are incorrect. Those amounts only represent certain amount of shares available on each side (buy/sell). OTC/Pinksheets data are never accurate. You will never be able to see exact amount on Level2. That 350 only means that there is more shares on that price level than any other price level. Can't really tell which is fake or not. Anyway, this might be moving nice in next few days
everything is going red today
Don't get it. What do you see?
Deutsche Bank, JPMorgan, UBS Are Charged With Derivatives Fraud - bloomberg
http://www.bloomberg.com/apps/news?pid=20601087&sid=avhfZfkuB3T0&pos=2
Can't wait till they come up with article saying; "JPMorgan/FDIC charged for WaMu fraud"
I'm not saying that it can not happen to a company in the bankruptcy, I know it is common. But at this particular case "WaMu/JPM/FDIC", if they are agreeing on splitting $5 bil. it is not in their interest to cancel common equity.They would lose the money.
After they exit Chapter 11, which is after filing reorganization plan where they have to disclose how the equity is gonna be treated. There for if they want to liquidate the company they'll have to battle the EC. IMO
THEY CAN NOT CANCEL COMMONS! As far as my understanding about equity in the bankruptcy is they can't just simply wipe out common equity. And that is in the best interest of all parties involved (JPM, FDIC, WaMu) because they are all splitting tax refunds from NOLs. If they get rid off commons, it is a change in ownership and while under chapter 11 they'd have to give up all that money.
Hello everybody,
I don't know if it was posted already but wamutruth.com has posted a link that has a letter to our Judge. Click on it, fill out your name and send the letter. Help as a common shareholder to win your money. I would like to see that the voice outraged by Rosen's bluff is much bigger than the one that gave us EC.
Thank you all for participation
Thank you very much Jest...
QUESTION??
Good morning everybody, could anybody be able to explain to me what is the difference between "exclusive period" and "solicitation period"? If you look at WaMu calendar, end of exclusive period for WaMu is March 26th (when it was supposed to be reorganization plan due) and end of solicitation period is May 26th (which is the one just granted by THJMW).
Thank you for your replies
Hi mordicai,
you are one of few people on this board I truly respect and follow... I have a question: Wouldn't it actually make more sense if the settlement comes after SJ? As far as I understand it, settlement will state how much assets are worth and how much they should be pay for it. If SJ is not officially ruled on, that $4 bil. is amount that (if we don't know if it's WaMu's or JPM's/FDIC's) is playing significant role in this game. And especially with EC, now ruling in WaMu's favor with this huge amount of cash, not just preferreds but also common will have some moves up...
Go WAMUQ
...and here we come! After fox, cnbc, bloomberg, cnn... it will be all over the news soon. And most importantly "it will be all over". I think there should be a big "THANK YOU" sign in front of Kristen's office since she was the one that triggered this mess exposure to public.
I am just a follower but that is a great post rickszy...
... or Noteholders?
What kind of claims where those? Employee claims, $39 bil?
Thank you very much. As I understand it right, it is different issue scheduled for March 4th (solely FDIC)
Mordicai, there is just something I need your explanation please, reading your post it seems to me that Walrath could rule on $4 bil. before FDIC Automatic Stay? If she'd rule on SJ than what sense it would make to rule on FDIC?
How did you find out?
You are right. Thank you for pointing that out. This means that, there is another step to be taken before the actual settlement for WAHUQs will happen. Now we know the price, what's left is "when" and "how"
First time we actually heard about HUQs being paid out was September, some agreements came around and it had been agreed on that HUQs will be settled at 60%. That time Wells Fargo was indenture trustee
Don't mean to be anal about it BUT HUQs were not settled yet. They got written approval from THJMW to go ahead and get paid. How and when will people get the money hasn't been decided yet...
Sorry guys,
Im little slow this morning... yeah, W@mU has been good today... I wonder how far management will take it with SPNG. This got little out of control. I had SPNG, sold it, have been gone for some time and just wanted to check out if there is another good opportunity to get back in. But so far... I don't know, looking at this, I don't know what to think.
I have heard about that. Weren't the insiders restricted till Dec. 2009 to sell any shares? They got them cheap (around $0.004?)
Wow, no need to be so angry guys. I just asked...
WHAT IS GOING ON HERE?? PPS @ $0.0025? It has never been this low. That is the lowest it has ever been. Can anybody help explain why would anything like this happen, please?
Isn't she required (by the law) to rule? 90 days period? I'm not a lawyer, I don't know the law, just wondering.
BLINK.... That's the little lightbulb above my head...
Yeah, now I got it. Do you mind if I ask you? Since THJMW had 90 days period to rule on SJ... Is the 5th deadline or she can adjourn again?
I had no idea there was anything scheduled for the 8th?! I look at my.calendars and 12th is Deutsche Bank case
I like January already! Let's see what February is going to bring. 5th looks pretty stunning.
Great work Draggyn,
you've put some time into this. Thank you very much. Checking all those links already. Thanks again.
10:30 am I believe
I agree, I'm not gonna post anything like this again... It is just my mind going 110% in last 16 months... Thank you for your comments, I appreciate it. I do respect everybody on this board that is doing all the DD and personally attend the hearings. I do not want to look like a basher appreciate
Thank you everybody,
Uzual,
something I have on my mind as a possibility. I DON'T WANT TO SPREAD PANIC OR MISINFORMATION.
If I'm creditor knowing to deal with EC, the piece of my cake just got much smaller. If I know that only way to get bigger piece of my cake back (not as much as it was planned at first but bigger than the one if I have to share with commons) is to dilute or cancel commons (which would mean loosing tax refunds). A change in the ownership would be the case to cancel the commons while WaMu is under Chapter 11. I have no idea how much (%-wise) that would have to be but I know that in Leahman's Bros. case it is 4.5%. My point is: Can I manipulate the price of UQs downward so I make the price sooo cheap and available that retail investor would want to load up more and more (thinking this would be the jackpot)? 4.5% is only 76.5 mil shares. Which I think is just about 40 people here (maybe less).
Maybe I'm just thinking too much and need some sleep. I just want to know what you guys think about this. It is a game with a lot of money on the table and since the WaMu lawyers were ready to wipe out commons already maybe they are ready to play vabanque too...
LOL,... nice
This might really bring some action. JMW has made very important decision and is taking very careful steps (2004) since senate is now investigating FDIC's role in WaMu takeover. IMO she knows that and that's why she's leaving the door open. If Feb. 5th hearing is gonna bring decision on SJ (which I truly believe is gonna end up in WaMu's hand) we are good for take-off Houston.
I apologize, I haven't seen that post.
My plan is:
1) watch the Frankfurt
2) watch U.S. pre-market
3) watch WAMUQ all day
.
.
.
4) maybe wait till monday.
If Frankfurt will go crazy, U.S. will go crazy... which gives us advantage of Friday power because if shorts (over 41 mil.) will see PPS go out of control hitting every ask, they will want to cover (especially before the weekend, they don't like to hold over the weekend). Which if PPS will close high (30% + gains for a day) it will pop on many day traders screens for monday trades, which again will stimulate PPS higher but after that (probably around middle of trading session on Monday) will see some profit taking and (possibly) shorts hopping back on the train pushing the price lower till Feb. 5th.
IMO of course, I have been wrong before.
Johnny Winter?? Where are you?