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fdic, and other gov. agencies give $19 million in bonuses. nice one. especially when this country is in debt. Wonder how much Dimon got. link at bottom...
http://www.yahoo.com/_ylt=AkpHsl3V3G9SrKMqvooONAabvZx4/SIG=1583a316q/**http%3A//us.rd.yahoo.com/finance/news/rss/story/*http%3A//us.rd.yahoo.com/finance/news/topfinstories/*http%3A//biz.yahoo.com/ap/100318/us_bonuses_for_regulators.html
I emailed the guy asking him about it. Here is his response.
What statement? If you are referring to the Official Equity Committee's recent press release, it was released by the Official Equity Committee.
Thanks,
Mike
Some think it is bogus. because of no credible link. I bought post bk, so it doesnt really matter. LOL!
Has that pr actually been verified? Yahoo and pr newswire.
Notice that lawyers are already pursuing Rico against Toyota. Weeeeee. We should be next!! Bout time the board got more posts....
that will wipe out every short share. tons of money to be lost. for whoever is trying to short us. Good riddance shorters. Ha ha ha. meaning wamu has 1. something billion shares. With shorters, there are theoretically 2 billion something out there.
I swore Sears owns kmart. If wamu reorgs. there might not be any shares to begin with. no ipo, I mean. Ec better come through. Good luck to all of us.
someone must like to write here. We all would appreciate it if a response can be sent to this reporter with documentation about the current situation with JPM. Please be sure to include the email correspondence of jpm and fdic how they were after wamu. Also how the bank was seized on a Thursday where the is no record of any other ank being seized on a Thursday. Atleast 40 seizures have happened since Wamu, and they have all been on a Friday. Perhaps Dred Scott might be of some help. Wamu is blunt, he can also help. lol. Thanks. his email paul.tharp@nypost.com
JPMorgan Chase has slight hang up with me & you
CommentDimon's downerJPMorgan may have to pay big to WaMu parentBy PAUL THARP
Last Updated: 4:18 AM, March 13, 2010
Posted: 12:47 AM, March 13, 2010
Comments: 0
| More Print
Jamie Dimon isn't getting as big of a gift as he had hoped.
The CEO of JPMorgan Chase, who turns 54 today, may see his bank reap far less than the $10 billion it stood to gain from its 2008 acquisition of WaMu.
As a result of a settlement, WaMu could recover from JPMorgan $6.2 billion to pay back bondholders and others who've filed more than $100 billion in claims.
JPMorgan may have to fork over to WaMu's bankrupt parent company $4 billion in cash deposits that it had claimed plus $55 million in interest.
WaMu would also get $1.94 billion from an income tax refund, as well as $117 million in notes and $50 million in Visa shares.
REUTERS
Jamie Dimon
Still, Dimon's bank didn't make out too badly.
It could end up gaining assorted windmill farms, a pile of securities valued at up to $4 billion and the relief of ending the bad p.r. stemming from lawsuits and probes related to the deal. There's also $1.9 billion for JPMorgan's share of the income tax fund. That all adds up to $6 billion.
That's only if US Bankruptcy Judge Mary Walrath accepts the contentious agreement, which was reached by lawyers and some creditors after more than a year of haggling.
Fortunately for JPMorgan, the legal back-and-forth was bankrolled by $500 million in aid from Uncle Sam.
"We are encouraged by this progress and look forward to seeking the court's approval of the proposed settlement," JPMorgan said in a statement.
The troubles began with a shotgun merger arranged by bank regulators, which allowed Dimon's bank to buy WaMu for $1.9 billion, gaining $119 billion in net assets.
Analysts at the time hailed the deal as Dimon's best ever bargain.
But the deal also triggered WaMu's bankruptcy and a flurry of investor litigation -- including accusations that Dimon is cheating former WaMu workers out of their pensions and claims he helped engineer a sweetheart deal to wreck the bank and buy assets on the cheap.
JPMorgan lawyers have denied all the allegations.
Sources familiar with the issues said much of the litigation is expected to be dismissed as part of the peace plan.
Holders of WaMu common stock would likely wind up with nothing, although the shares have changed hands furiously among speculators, swinging between 10 cents and 40 cents a share yesterday.
JPMorgan shares closed flat yesterday at $43.15, down just 3 cents.
paul.tharp@nypost.com
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I wish us all luck. I just dont see wamu ever coming back since they were stolen in the first place. They will constantly be looking over their shoulder. Too bad the ec hasnt got the cusip# changed. so far, they have to wait on the judge to be able to do anything. Hopefully the SEC will do something about Fridays trading activity as well considering someone already has an agent with a case number. I hope ec will go all the way if they still have a chance. Expose the deeds of JPM and the Fdic. Doj needs to step this up as well. If we are not compensated, who would ever trust to have TPG invest their money.
you think a trademark is worth tens of billions? I hope we can go further with the jpm fdic litigation. Some say this is first "offer." We will see what the ec can do for us. Just having cash, I dont see that getting us too far. since sharehlders as of now, are left out.
related to lehman. say (Saytam Computer) stock symbol, was just like lehman. upper management was convicted of fraud. eventually they were put in prison. The stock tumbled to a $1. The company was bought out and within around six months, the stock rose to $6 a share. that was just the common. I do not think there were any preferred. Maybe Lehman can get the same action since obviously management can be in some deep poop, or e&Y.Go Lehman
that means they want us to take that up in a class action. I think class action is the same as a court appointed. sure that is a pool of lawyers, but you think they will try as hard to win. plus a class action even if they lose, they make a name for themselves. they win, we'd get screwed again. they would take all the money.
you actually think you are the first, third, fifth or tenth person to post that today...
could they have done this crap to come back later and offer commons like $1 a share to try to spin everything to make them appear good? just the visa thing ticks me off as well as jpm/fdic getting cuts of other stuff. I still think $8+ is a wholesale price. doj is very slow...but if evrything is dropped, what can they do...
is there any way you can be there the 26. show some support. few outbursts and all. tell ec lawyers to get their heads out of their. $2 billion of visa for $50 mil. come on, give me fn break.
you are the shareholder she quoted. good job!
plus that lawyer is full of it. he dont/wont know the financial situation of wamu. he shouldnt have even said something like that. well we all know what lawyers are. and I believe you. blowing 50k a month and being in the Army past or present, I do not.
she is quoting the bk lawyer.
also this on yahoo. someone got an "agent" at the sec to investigate nss and mm. trouble perhaps!!!
HOLD THE PRESS!!!!!!!!!!!!! 12-Mar-10 06:56 pm I have been assigned an SEC AGENT and MM game F'en on.
CASE NUMBER: HO00028375!!!!!!!!!!!!!!!!!!!!!!!!!!!!
from the judge marybobh on yahoo. or is she a lawyer, oh well.\
The 'Settlement' may not be what it appears to be 4 minutes ago At this point, the 'settlement proposal' consists of nothing more than a lawyer's statment in court. Something to keep in mind is that the 'settlement' includes (as one component) transferring over a billion dollars in cash from the debtor's estate to JPM. The bankruptcy process simply does not allow such a distribution of funds based on nothing but statements by the debtor's lawyer coupled with an eager recipient. Even if the EC did not exist, there would need to be an adjudicated claim prior to the court (or the US Trustee) ever agreeing to such a thing. That process has not even begun. I am starting to question whether the 'settlement proposal' is even what it purports to be
everything was bought for $1.88 today they just offered low ball, what 3xs that amount. can you say fraudulent conveyance. Commons will get some money....seize the day also.
dont know so much about that. It was too much volume to fill most orders. in fact most were not filled on one try. but some did make some good dough. Not as much as a long here will in the final favorable outcome, or if wamu reorganizes and starts over.
what does that have to do with the court room hearing.
paid, but no voting rights. lol. cheers to tomorrow, or 11 hours I mean
page 8 letters d and g
I thought it meant shareholders of record were only kept up until that date. and they are the ones that can be at the shareholder meeting.
everybody pay VERY CLOSE ATTENTION TO THIS ON PAGE 8. LETTER D and LETTER G and let me know what you think.
or it could mean every class gets paid because wamu was seized fraudulently. besides, wamu would definitely still be making a profit if it wasnt for the crooks. everbody gets paid. long live wamu, or atleast until settlement.
very few daytraders make money. $100k a year. most (over 90%) go broke. good luck.
I am pretty sure when I day traded a stock to get rid of it, I still got taxes taken out at a loss when I sold it. Did you know social security money is kept at JPM Chase bank.......
heres ghosts post about the 15th. can be verified under his name.
I can't take credit for the calendar as it is not part of the ghost board, but it is correct:
http://www.kccllc.net/documents/0812229/...
There never was a hearing scheduled for the 15th that I can find. Also, there had never been an agenda for a hearing posted for the 15th other than what is included in the new document cancelling the hearing that never existed.
not really. minus coms. lets say $20 for that, and I think you forgot the big chunk they gobbled up for taxes. I dont see you making $100 on that one. correct me if I am wrong.
dont they know you have to call 1800-jpm-loss between the hours of 8am pacific and 12pm eastern on 3/14/10 in order to be compensated. talkaboutdesign has the link.
why is it good news. almost every court date has been rescheduled. You are reading too much into it.
take a look at yahoo from the horses mouth. there was never even a 3/15/10 court date scheduled. weeeee or wooooooo, whatever go wamu.
I bet $175,000 against your $100 that is not true.
makes just as much sense dont it. Go Wamu!!!
I got this from yahoo. jpm wronged by the govt?
Wait, I see it says JPM got involved with the suit AFTER it got WAMU. SO they get this extra money because of WAMU. WTF...
Bloomberg: 3/10/10 13:51:
By Susan Decker and Greg Stohr
March 10 (Bloomberg) -- JPMorgan Chase & Co. won an appeals court ruling that orders the U.S. to pay at least $356 million for breaking a promise of special regulatory treatment made during the savings and loan crisis of the 1980s. The U.S. Court of Appeals for the Federal Circuit in Washington today also said JPMorgan might be entitled to another $63 million in the case, which originated with New York-based Anchor Savings Bank. The lawsuit is one of the last of more than 100 heard by federal courts over promises made by regulators to encourage takeovers of failing thrifts. The suits say thrift acquirers spared regulators from having to seize the struggling institutions and pay off depositors, and then lost money when the government reneged on the promises. Anchor bought thrifts in New Jersey, Georgia and Florida, and later was forced to divest a mortgage-banking unit called Residential Funding Corp. New York-based JPMorgan got involved in the case after it bought Washington Mutual, which had purchased Anchor. The Court of Federal Claims, which has to decide if JPMorgan is entitled to the extra $63 million, also could grant another $100 million to compensate the bank for taxes it will have to pay on the damage award, said JPMorgan lawyer Edwin Fountain of Jones Day in Washington. That could raise the total to the largest award in one of the S&L cases, he said today in a phone interview. Jennifer Zuccarelli, a JPMorgan spokeswoman, declined to comment on the case. Charles Miller, a Justice Department spokesman, said the government had no comment.
The case is Anchor Savings Bank FSB v. U.S., 2008-5175 and 2008-5182, U.S. Court of Appeals for the Federal Circuit
(Washington).
here. you are saved.
http://news.yahoo.com/s/nm/20100309/bs_nm/us_barclays
they are using charts. charts have absolutely nothing to do with this stock. go day trade some other stock. this one is too complicated if you have doubts, or if you dont look at the facts. good luck. the dd (which is fact) points to a completely different outcome. also american bulls says wamu is right now for short sellers, go figure.