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Thanks Flow
JPM didn't even qualify as a bidder yet was given the bank
JPM was the only bidder and was handed over Wamu by FDIC. The best part is under the requirements for qualification JPM didn't even qualify as a bidder as its Tier 1 capital ratio was less then what was required. To add to it, FDIC/JPM/Fed/Fitch were all working together towards that goal atleast 2 weeks prior to the seizure :) Examiner's highly confidential documentary evidence reveal that.
ICE-UK: This was the best game to watch thus far.
SEC is Worthless: Dead on
Exactly. P&A addresses book value. Other WMI assets need to be bought at FMV. And, FDIC R needs to liquidate them and address FMV as a whole e.g. WMI owned branches that were on lease as WMB bank branches
Sure they do 173.6 billion Plus $50 :)
I_am just hardened to excitement: We All Are
8 yrs and still hanging in here :)
A fair statement not to be ignored. Thank you.
Don't worry I will continue addressing the same concerns highlighting the difference in $100 bills as against an amount less than $50. :)
Ignoring the fact that its a capital raise through shares. What is the impact of .01 cent on 173.6billion. It is confined to about 65000 shares and approx. 4 million in amount raised based on current prices. Did anyone raise capital with such precision for even one would be transaction/event not set in stone. Can you tell me in how many different ways can I justify use of $50 in 176.6 plus $50 assuming different uses is accounting for dollar difference and rounding of cents :)
Lets allow JPM to correct the $50 figure. Can they? :)
so, was it a transaction set in stone or a project capital raise for various purposes. Lets find a better reason and not ignore plus $50 figure
Pretty certain that "X" + $50 is ours to keep
Would love to know, if you have any other reason for its unlikelihood given that its here to stay :)
176.6 billion plus fifty dollars
Good point Bob, why on earth will JPM have a need for 176.6 billion plus fifty dollars. What is the significance of $50 in 176.6 billion. What is its impact.How can a specific need or a multi purpose requirement define the amount with such precision, unless, it is an accounting number. Did anyone ever specify a figure less than $100 when they conducted business of a million dollar. Is this a transaction or a capital raise for various purposes. Did JPM ever raise this money before. Did they ever define a number less than $100 when they raised capital before in billions
You Decide!
Thank you
Brother, I hear you. Wamu story has very little to show for itself to question your decision. If anything big is in store that I myself believe in, then, it resides in the liquidating trust. 4.5 yrs of investment in WMIH with no guarantee is not a reflection of performance that one couldn't achieve in any other stock investment. Being realistic is not a trait of failure. In regards to WMIH, believers (myself included) and non believers have proven nothing of substance that should be given due considerations while making a decision.
Best Wishes
Dee
Is this the reason why AAOC are hanging in-there
Bob, I believe in that $300B recovery that Large Green was conveying all along. You site a very good reason to hang in there. All I need is some hope to get by for the time being through WMIH as I am not sure if I can stick around without it. To each his own I guess :)
I am not worried about recovery from FDIC-R, but, WMIH is killing me :)
We all have lost a lot in this battle and it seems there is no end in sight. I just hope its not till end of 2018. It will be a huge price to pay on top of what we all have endured.
Is 550 dollars in ($173,638,778,550) An Accounting Figure.
I wish what you say is believable. Did Basel specify a figure less then 50 dollars to meet the req :)
We are talking about billions, yet, they had to define the exact amount 173billion... plus 550 dollars. Is 550 dollars in ($173,638,778,550)---An Accounting Figure.
Thanks Large Green for highlighting the 173 billion figure
JPM is/has raised 173 billion. I have NEVER heard of a massive capital raise such as this by any US Public Traded Corporation anywhere PERIOD! NOBODY, I mean NOBODY covered this on any channel, publication or news outlet PERIOD. What a disgrace by all.
I guess nobody cared what JPM is going to do with 173 billion and this interests nobody at CNBC, Reuters or even Bloomberg or CNN Money. More to the point and more than likely they were ORDERED NOT to discuss the capital raise.
I guess a gag order is in force. I have the same view as you i.e. it represents BV for Wamu :)
File a "Motion for Clarification"
I am all for seeking a clarification on releases by filing a "Motion for Clarification". Its within our rights and long due.
Has JPM ever offered securities defined less_then $100
JPM has raised money in the past by offering securities. Has JPM ever offered securities where the amount raised has been defined to an exact precision amount less then $100. Here are some examples
JPMorgan Chase & Co. Prices $10 Billion Capital Raise
https://investor.shareholder.com/jpmorganchase/releasedetail.cfm?releaseid=336943
JPMorgan Raises $1.6 Billion in Hybrid Securities
http://dealbook.nytimes.com/2008/08/15/jpmorgan-raises-16-billion-in-hybrid-securities/
How J.P. Morgan Raised $11.5 Billion in 24 Hours
http://blogs.wsj.com/deals/2008/09/29/how-jp-morgan-raised-115-billion-in-24-hours/
JP Morgan Raises $1.2 Billion For Digital Growth Fund
http://blogs.wsj.com/venturecapital/2011/02/23/jp-morgan-targets-1-2-billion-for-digital-growth-fund/
Is 550 dollars in ($173,638,778,550) - An Accounting Figure
We are talking about billions, yet, they had to define the exact amount 173.billion... plus 550 dollars. Is 550 dollars in ($173,638,778,550)- An Accounting Figure
I am not banking on anything through the shareholder meeting in regards to receiving anything from LT
($173,638,778,550) Specific Amount for a Very Specific Purpose IMO
I do not care of the form as long as its coming to us and is reflective of the FMV :)
Take note of the amount. It is very very specific($173,638,778,550), as if, its for a specific purpose set in stone.
JPM will issue 173 billion Dated 04/04/2016
Cura, your headline is very deceptive, but, your content is awesome. Thanks. :) I do not understand any of this at all ,but, I find the amount needed very very interesting as I see some commonality through DTC Rule 415 with respect to Liquidating Trust. The thing that strikes right away when you see this amount mentioned is the reason "Why the need". For me, Wamu rings the bell :) Wish someone can explain what is this money needed for. Has JPM ever given such an offering before
SUBJECT TO COMPLETION, DATED APRIL 4, 2016
Up to $173,638,778,550, or the equivalent thereof in any other currency, of these securities may be offered from time to time, in amounts, on terms and at prices that will be determined at the time they are offered for sale. These terms and prices will be described in more detail in one or more supplements to this prospectus, which will be distributed at the time the securities are offered. Our common stock is listed on the New York Stock Exchange under the symbol “JPM.” The other securities that we may offer from time to time under this prospectus may be listed on the New York Stock Exchange or another national securities exchange, as specified in the applicable prospectus supplement.
http://www.sec.gov/Archives/edgar/data/19617/000119312516529435/d171874ds3a.htm
Hotmeat: No I didn't
Regarding: BTW have you yet received a response for the letter you sent to the trust???
I think PQ was trading for a dollar and continued in the range of $1-10 for several months I believe. Bopfan was leading the charge in promoting PQ. Any positive sentiment was credited to him.
Az: WMIIC was Court Ordered to be Isolated' ... (2008)
BK:...NO IT WAS NOT - there is not citation for such.
Thank you Bk for this. Does a possibility even exist where in bankrupty, the assets can be isolated. IMO, if assets are not in control of the bankruptcy court, then, how can BK court rule on the above. Seems like this statement conveys that the BK court is in league with the creditor's.
Figures crossed till Monday
BK, I agree with you on Priority of Claims
We have no diff of opinion there. We will see where this goes when receivership is nearing termination.
...the "receivership" isn't closed
And, FDIC R has not been released by WMI/LT(as successor)in the capacity of it being a sole shareholder and creditor of WMB
Hotmeat, Need to file a Motion for Clarification
I haven't recd any response back from the Liquidating Trust. I did make a call and leave a voice message about 2 weeks back.
Honestly, I want to file a "Motion for Clarification", but, my pocket doesn't allow me to incur those expenses at this time. Have to live withing my means. Sorry
BKShadow: Facts need be clearly well observed...
Humble request to do the same in kind and postulate your arguments from there on.
End of 2018 is the year of revelation
Absolutely Bob, all a part of the game that was as expected. One can only rely on himself if he has a reasonably good understanding on the subject. End of 2018 is the year of revelation if not before. :)
"PRETTY CANNED RESPONSE for such a HUGE BK don't ya thunk??????????? "
No Brother, the only reply that I recd from Chad Smith (Executive Vice President, General Counsel & Secretary of WMI Liquidating Trust) was
“Thank you for your email. We are reviewing the content. Thanks again.”
Hotmeat:how difficult is it to simply state just that?
Hotmeat, like I said I did send a reminder. My takeaway is, if a simple question is not able to generate a "Yes" or a "No" reply, but, is acknowledged as being reviewed, then, there must be a reason for this. Anyway, hopeful me continues to believe in my understanding on this and any reply not complete/vague is just not good enough to be relied on. Thanks
Bkshadow:motion_the_court for the Liq_Trust to answer_the_questions
Bob, is it true that you don't own any WMIH shares. Not that its a bad decision if one has choices available. Thanks
"
Nobody that hold WMIH(I DON'T) is happy with the progress or lack there of. "