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Although inconsequential in the scheme of things...
I am happy that the "test" of the shares they distributed did not get taxed until I sell(currently Short term, but no reason to expect they wouldn't be Long term come August 4th 2016)... Was a concern of mine to be taxed on the whole lump at once...
Although there is little evidence to suggest new monies in the liquidation trust would come in the form of WMIH shares... It would be a substantial waste of capital to merely distribute it to greedy investors... Better to make it a "Market value" and the money doubles.
i agree, i'd rather see the estate get fair compensation, and criminal charges against blair & dimon et. al.
Intimate understanding...
Wonder if a new can of worms will be unloaded once the bankruptcy is resolved
She always talked about RICO, and Honestly, I think JPM FDIC cannot afford a RICO case... paying a fair price is one thing, but not a multiple.
I think it was the extension to the discovery, THJMW gave an opinion granting further discovery of JPM, but in the opinion she included that there was enough damning evidence in the first discovery to prove whatever QUINN EMANUEL wanted...
That was the moment I didn't feel right about everything... seemed good, but something was aloof
Unfortunately I learned a horrible lesson about eggs in one basket, I think I went all in on the 24th or something like that after Alan Fishman assured investors they had 50 billion in liquidity...
luckily I left about 5% cash in my account and bought more on the day after the seizure...
Honestly riding some of the waves with WAMUQ I probably recouped most of my losses with my 5% cash after the seizure...
Definitely owe a bit to Bopfan
The EU is done I think...
UK will exit, and that leaves only Germany as a benefit to the union, and will create resentment...
I would consider bridgewater more successful than tepper, yet less involved in this deal
Is bridgewater invested in WMIH?
Probably all the votes Hedge fund vs retail...
Maybe one of the Hedge Funds went against the grain
... Emails to the FDIC count?
lol
JPM the savior
Lol... according to JPM, seizing the bank was in our best interest too
I would assume that this has been done subtly not to raise any flags or cause any concern about the bank's financial health. I expect if there is to be any major publicity it should come out in tandem with a stress test showing that despite a large litigation proceed the bank is above the standard to alleviate any panic.
I would infer the beginning move on that was the 100 billion deposit the FDIC requested last year.
Haha, I don't post often... but sometimes you just have to laugh. Sounds like a horrible investment:
WMIH Corp.’s (WMIH) EPS growth ratio for the past five years was -14.90% while Sales growth for the past five years was -38.00%. Return on equity (ROE) was noted as -272.30% while return on investment (ROI) was -47.80%. The stock’s institutional ownership stands at 37.30%.
http://www.streetupdates.com/2016/06/06/ocks-wmih-wmih-american-tower-amt/
As one might say... THings that make you go HMMM... that institutional ownership on such a poor performing company... lol
Your math is crude...
if the market value of an enterprise is 238 billion dollars, any additional shares would erode the value of the current ones.
Seems to me, as if a reminder... or an escalation of force...
AKA, next order would probably be that of contempt.
In regard to what, no idea.
I disagree, JPM never incorporated the 180 billion of WMB's loan portfolio into the books, LARGEGREEN was going on and on about these a year or so ago...
therefore it was never part of JPM's value... and therefore it should not require anything from JPM to give it back.
Also a year or so ago, JPM had to take 100b off their books to be in compliance with FDIC mandates... probably again related to large financial transactions that are deemed not to cause a run on the bank due to such liquidity
JPM doesnt have the shares or the cash to legitimately pay this debt unless they had expected it the whole time.
173... isnt that approximately the off balance sheet loans plus a few billion?
Would not expect it... They do quarterly distributions nothing in may. The next one would be first week of august.
Besides the filing by JPM was a proposal, not a completed agreement. I imagine some of the details will be discussed at the meeting wednesday
Im surprised there isnt chatter on JPM boards... thats a lot of money...
I'm also wondering what JPM can do to reduce it's financial impact, or even profit from the transaction...
are there any put/call options on JPM?
If a big transaction is to move, people know about it, and they place their bets accordingly.
LOL!
FDIC step over the line on this one?
This bank was not even under the control of FDIC. WMB was a thrift not a bank.
WMB had a controlled run on the bank to demonstrate a need for government intervention, all orchestrated by JPM. All of it is shown in great detail in Project West's Discovery...
If you ask me, WMIH is probably about to do Merger or acquisition.
More specifically, a conversion of shares to equity. KRR is known for it's leveraged investments, and part of the conversion was a price at 2.25 WMIH shares. If the price is higher than that then KRR has less leverage with its 600m.
It is in KRR's best interest to get the price below the 2.25 at the time of a conversion of preferred shares to equity, and such conversion was supposed to be triggered by an acquisition or merger.
WMIH's incentive to be speedy is that it is paying interest on 600m preferred shares.
If escrows have merit, and the benefit WMIH(at least 2.5% will), KRR should be as leveraged as possible prior to the court resolving all claims.
Just WMIH giving out it's quarterly shares to it's board members...
Nothing to see here
From what I can tell, the dilution(extra shares and debt conversion) is only happening in Athens...
This sounds too good to be true... so I must be missing something
there is no legal difference in SEC requirements between different publicly traded companies
I have a feeling that they ran into legal issues with diluting us and converting debts...
I suspect NBG is not interested in trading on US exchanges anymore.
So from all of the filing's i've read. It seems to me that the Offering NBG has been doing is only pertaining to Athens exchange.
So Athens seems like it will be diluted by a debt conversion as well as by a Public offering of more shares. NBG has stated many times that these offerings were not available to the US securities.
So I'm wondering how this will continue to trade if the share ratios are not 1 ADR to 1 Athens.
no its not... that ticker is older than NBG
NBGIF has been trading forever, rarely gets any volume, but it's been around for years
for what it's worth.... the preferred should not be halted if this was about delisting
Yet both are halted
yep especially on the eve of implementing it's plan...
Could be interesting if Shorts are required to cover today if it opens on PINK's today new shorts are bound to attack it.
Doesnt make sense, NBG was given 6 months to correct issue dating August 11th IIRC
that sounds good for us
Anyone help me out to understand what a decrease in Share Capital means?
This thing will not see a major pop in price until it shows a positive revenue.
Once it shows a profit, the ROI will be higher than it should be, due to a reduced liabilities/debt(bailed in securities). That may allow the bank to trade at a multiple of book value as most financial institutions.
However this is several quarters if not years away. Q3 NBG Greece showed a profit, but the NBG Group showed a loss, so we are on the verge of improvement, if we see a inflow of deposits, we should get back to profits.
that article has nothing of substance... is there to encourage shorts...
The lower the share price the more control the bailed in securities get.
FYI should have gained some more from August Distribution...
That does look good, however weekly charts havent shown much change in accumulation in 2 years, since KRR announced a deal to help find an acquisition.
Well... not really here to get in a discussion about politics...
Typically what you see is the greek practice's require a central bank that can keep over printing and keep inflation above the 2-5% which seems to be healthy.
The US dollar has had many times when it overprinted currency and ruined it's value. There was even a time in america's history that our government had such terrible inflation that in many areas tobacco had taken on as a currency, because it had value to people and you couldn't fake it.
The problem with Greece is that they have a system when the young pay for the old, while not a bad idea it's built into politics, economics, and law. The problem arises when the Greek government doesn't have a central bank anymore.
Greece must change it's ways or start it's own central bank again. Either way it will reek havoc on it's population. Everytime in US history when there was a dramatic need to fix the treasury system the population got screwed in the process.