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Don't get me wrong, escrows still have a chance.
While the odds are stacked against and always have been....after all, this was a gamble!....I still think a payout will come. It may not be as astronomical as some say, but remember this. The hedge funds also want to get paid, and they have connections. 23 is a lucky number, so this could be our year.
Imagine if they even gave us just par. $10B is nothing these days. But that would be a lot of money for us, at 1000 per P and 1.85 per Q.
Bob. Re your PM.
I only get one post, and cannot PM either.
So, yes I agree we should get paid. My concern has always been the corruption of the banks, fdic, EC, LT, hedgies, and gov. These get away with everything these days.
A friend had close connections within the fdic and he said the amount of corruption in that agency is staggering.
That didnt give me much hope.
So, do we have money due us? Absolutely.
But will we get it? Possession is 90% of the battle so they are winning.
We need a miracle because we have no representation. Zero.
Jamie has no conscience, so why pay for the bank?
Walrath doesnt give a rats ass about us.
Theyve all gotten away with it for 14 yrs already.
What a mess this country is!
That's my verbose 1 post.
Bob, how do you interpret that from the post?
Those are the scheduled dates based on whether funds are available at the time. Let's hope they are but we don't know that yet.
Still need LIBOR to resolve and then FDIC to close the R.
Visualize buying a corvette with classified papers inside stamped "WAMU".
Bob re taxes on escrow payout to come.
It is my position that any payout would be a non-taxable settlement. Of course the W9 we were forced to submit at release will require a 28% withholding. Then it would be our fight to contest it in court against the IRS to get back our 28% they withheld. The hedgies will lead the way on that tax battle and set precedent for the rest of us. As Mary said, we ride their coattails.
Bop says the IRS will want a cut so it will be a battle. Worst case is LTCG at 20%. It is Not ordinary income as some are saying.
Didn't anyone find Tako's post curious about the numbers matching exactly on those COOP and JPM reports??? EXACTLY! I am shocked no one seemed to pick up on that.
from BP: Quote tako11
Folks the recovery is right before our eyes, and we choose not to see it or to believe it
It was showing through the numbers of COOP and JPM reports dated 9/30/22 and nobody wants to investigate it
Please ask yourself why we see the values of 309b and 86b on COOP report which it matches exactly the value of WAMU at 6/30/08 plus accumulated earnings of 86 (Dr A estimate)
Why do we see a long-term debt of 287b showing on JPM report that matches exactly the value of NSM-owned assets as it was reported on 6/30/21 (the source designated date)
Why JPM claiming 19.1b EQUITY LOSS at 9/30/22 and who is the payee of this value
TPG reports assets of 135b match exactly the assets owned by the WAMU holding at seizure
Folks if you divide 86.1b by 93.2b fully diluted shares of COOP you find it 932/share should be waiting to be distributed to somebody (if we don’t share that 86b with WAMU Bonds and JPM we will have a problem locating our recovery somewhere else)
Bottom line JPM and COOP numbers are aligned perfectly showing the hidden assets you guys were looking for and it proves recovery is not kept far away but it is sitting in our house
Happy new year to all ..Tako
Hello Ray. I am starting to think that I got the correspondence because I filled out the previous forms some years back and nobody else did.
I recall talking to others back then who said it wasnt necessary. It probably wasn't. Anyone who had markers is duly noted on the historical list.
Now, those who said the deleted markers nixed any hope for recovery were sorely mistaken.
While I think this process could still take some time to work through, I am cautiously optimistic that money is forthcoming to escrow holders.
Thanks iPrelude. At least somebody believed me. Geesh.
$68mm won't go very far, but this is just the start. They have to button up LIBOR before the big money can be released.
SO, THE DELETED MARKERS MEANT NOTHING! HA! It was just a bookkeeping cleanup for the LT. They obviously have our list and are checking it twice...
Now, the question is.........did you release?
LIBOR SETTLEMENT:
Hello,
You have been identified as a Settlement Class Member in the Initial Settlements. Accordingly, you are being provided the attached Postcard Notice as a potential Subsequent Class Member. Please let us know if you have any questions.
Sincerely,
Bondholder LIBOR Settlements
Claims Administrator
I do not have bonds. Only Ps and Qs, so this shows this is about escrows. Ha! So much for the deleted markers being the end of the line for escrows! They obviously have "the list", and this proves it. How many got this email? We are close to LIBOR conclusion folks. Then the waterfall can proceed.
A friend is in direct touch with Alice.
She is still very positive about her source's info. She doesn't know timing but feels strongly that escrows will be paid.
I believe once Libor is closed then the FDIC can close the receivership and money will flow. Could be any time now.
Merry Christmas to the escrow warriors. Stay strong and positive. Been a tough 14 yrs but we may finally be getting close to something, God willing.
From IRS letter, thanks Xoom.
"There may be a tender offer to Distributing Company shareholders who wish to sell their shares after the merger is completed." (Alice has been saying this for some time.)
Now, "they" are hoping we all jump at the first tender offer when escrows get shares. Sadly many will due to personal need. But, those who can wait will likely see astronomical exponential increases in value. Say for instance they offer $1000 for Ps. Many will grab it. But in a matter of months those same Ps are worth 10 times that or more. Just sayin.
I will cash in some and leave the rest in the drawer. Be smart about this, folks. They want us all to jump at the first offer. That's been their goal all along. Wear us down to the point that we will take almost anything...
Remember this: The hedgies and UWs have not sued.
Why? Obvious to anyone with common sense. They know far more than we do.
And why oh why did the UWs send a bevvy of lawyers to Bop's "meaningless" hearing?
I expect breaking news any time now, by EOY or early 2023. Patience is a vulture.
Yes zoom. We must be paid. They have no choice. Such a conundrum for them.
Let it flow let it flow let it flow!
Libor wrapping up. Stars aligning. He who laughs last laughs best.
LIBOR SETTLEMENT JUST CAME OUT!
CHECK YOUR EMAIL. IT HAS BEGUN TO UNFOLD. (Ha! So much for them not knowing who we are since the markers were deleted. Told ya!)
Any claims already submitted in the Initial Settlements will be automatically considered for recovery in the Subsequent Settlements and do NOT need to be re-submitted.
Escrows crashed when Hochberg spoke.
I still believe in the source. If the source goes negative I believe we may be done. But for now all looks rosey. I believe escrows will be paid 2.5x.
Ripleys......
Russia on verge of ending war. Reports out.
That should help the stocks a lot. Good buy point for COOP and good release point for escrow $$$. I bet Putin was buying positions today.
Cura. Where did you see this?
Link? The DTC will withhold 28% from our w9 so yes thats gotta be paid to the irs upfront.
It seems like we could be close to something but who knows.
I am expecting something this year. I'm sure Biden prefers it soon so itll boost the economy pre election.
Wwhatthe, thank you, you are correct.
In fact, it will likely be much more, though the remainder will take time.
I say the 2.5x bucket happens soon. I also believe 75 25. Why would the SNs allow anything more? Commons were lucky to get that much!
I expect we will wake up someday soon to find a nice surprise in our accounts.
As Biden said in his letter to me, they referred this to the appropriate agencies. Could be bs but we shall see. They need money pumped into this economy desperately to stave off a looming recession widely predicted.
Thanks Jiminy. Dont be a stranger...
Ron, many think 2.5 par is coming. That would make most people happy, except nonreleasers of course.
But much more should follow. Many avenues for payments. And.....uhhhh......no JPM did not get it all for 1.88b! Lol
If anybody truly believes that, I have some lovely acreage of swampland in the everglades Id like to sell them.
tzebedee, absolutely, investors fear dilution due to asset purchases via shares. COOP should be well north of 60 with those blowouts earnings. The source looks like it is getting noticed.
I expect shares and cash. Nothing is certain in a bk investment! High risk. But remember this. We are All pretty well versed on escrows IF WE OWN THEM. But I am a believer in credentials and experience. Bop is to be taken more seriously than many here believe, but....she is a bk attorney who has worked for jpm, db, and fdic, plus she took a major legal action to court. How many others of us can match her and her source? Ha! I say I'm willing to give the source a shot. Might take some time, maybe not. It's a 3 month wait list for my new Bentley so I have time.
The source is the source of course of course.
While I agree things look somewhat grim AT THIS TIME for escrows, I hold firm in my belief that the source is right on with the 2.5 par near term. When is the question, but he/she feels soon.
Would be nice to get it soon to load up on COOP. This is easily an $80 stock.
Manipulating stocks by advocating options trading here should be a board TOS violation. Why is this condoned here. Seems like the SEC would not be happy with this on a stock board.
CBA, dmdmd, Dr. A, and many others nailed it.
These guys are experts, not schleppers. And let us not forget Nate the Great. I guess we just need to be patient. We ride the big boys coattails as Walrath said.
Nothing but zeroes in our accounts now I know, but soon things could be much different. Bop wants donations to go to animal rescues. I agree! And lots of people each of us know who are in desperate need of help. Think abundance.
2.5x par, and $5-6 per Q. First salvo.
Feel like this is the twilight zone...
This all gets more and more bizarre by the day.
2.5x will happen this year.
Very soon. Categorically undeniable. The money is just sitting there now. The question is, will there be an advanced announcement so brokers can offer us lines of credit? They want to make money from this too....it's a crooked world. The IRS too wants a piece of the pie. As will all your friends family and neighbors. Be careful who you tell when this all starts to happen. Don't be a braggard. Be discreet. Read books on newfound wealth.
Something big is brewing.
Let's see if the source is right. 2.5x will open the flood gates to other payments.
I agree with dmdmd, bop, and source on 600B...that may take yrs to unravel. They agree 75 25 too.
Who has custody? When? Once the money starts to flow we will know.
The 2.5 x should happen soon. IMO
Mr. Tepper has free agents to pay.
Sell on the news will dry up soon.
Great news, but some decided to sell a position to raise some cash. AZ had to pay for his trip to Paris. :)
Banger, I've always said money will come when we least expect it.
Well.....we least expect it now!!
Ps will likely get replaced by new Ps that would be tradable, so it really wouldn't cost anything to do that.
AZ, you know how she can be.....
I think for her, this was quite a complimentary post! She gives you credit for her digging into the saga on a different level. Good for you!
As for the 75 25, I tend to agree with you on that. But time will tell. I'm happy either way. I don't think the hedgies who own Ps will allow anything less than 75 25, but maybe Ps will be converted. Let's just get something soon!!!
Here is a bop post from BP today....she's miffed at AZ, unfairly I think. Maybe he refused to date her! LOL
« Reply #428 on: Today at 10:58:50 AM »
Quote CSNY/BOP/Alice
Everyone here knows my feelings about AZ but, to be fair, it was his obsession with WMI's MBS that caused me to sit down in 2014 and go over the SEC filings to figure out how much they could provide towards a recovery.
After I looked at the company's disclosures I understood its management would have tried to protect those MBS they retained (around $135B worth) as crown jewels. (They would not have sold them in the run up to the seizure because they probably wouldn't have got 5% for them (i.e., potential buyers would have smelled blood).) I also understood that if their lawyers were in any way competent they would have protected them through some kind of spendthrift trust device.
I realized the $135B in MBS (plus around $30B in credit card receivables) would grow organically. I discounted the $135B to a nominal amount of about $20B, then, understanding the players would not distribute that value, capitalized the figure and saw its potential value. I realized Dmdmd1 was spot on and adjusted my figures to utilize a recovery of $400B.
AZ is incorrect about 75/25 but deserves credit for focusing on WMI's guts and thereby showing us what it protected and how.
Sadly it is impossible to get on bp.
Let's see if this 150b raise is at least in part slated for escrows. Even just 25b of it would be 2.5x.
Some feel confident about it. I am on the fence but its possible. Afterall, jpm never paid for the bank!
The 1.88b was an admin fee so stop with the nonsense that it covered everything. Read. It did not!
Does anyone do DD anymore, or is it all just giberish bashing???
Jhd...bop and others believe the 600B would be 75 25 to the end.
If anyone has issues with their DD contact bop, dmdmd, and the source directly. Bop does say this will take many yrs. But that 2.5 par will happen very soon.
So who is the source? Wish I knew. Could be a lawyer from jpm or fdic or db. But if I knew I would would not reveal it either. A source is a source of course of course, and no one can talk to a source of course. Unless of course, the source of course is the famous Mr Ed...
Relax and lets see if we get news soon.
xoom, that is correct. But could take some time.
I say that 25-30B will hit first and be 75 25. I know bop and others are convinced of 600B, but that could take time. Bops source agrees with the 600B figure.
It's hard to say how this will play out. My guess is at some point we will see new preferreds issued as a 1 for 1 exchange with current Ps.
I wish people would stop referring to the now defunct LT! There will be no money coming back from the LT. That ship has sailed. So people need to stop with the LT Doreen Walrath Rosen nonsense. They were correct....escrows will get nothing from the LT.
2.5 par is on the way IMO. That 150B raise jpm just did is the Tell.
This is all true...per the LT. Got it????
Walrath also said nada....but her bailiwick was ONLY THE LT. Got that?
Good Lord!
I have a source that says the $150B raise that jpm just did MAY be in part for escrows. Maybe all of it.
The question is, if we have something coming soon, when will it be.
I say very soon, but at least sometime this year. IMO
As for the so called deleted escrows so claimed by many, look, the dtc and all historical transaction records are clear. Nothing has been deleted. The LT markers are gone but the escrows remain. Got it?
And please stop with the LT has no money for us. WE KNOW THAT!!!
Geesh.
Thats right AZ. Worthless stocks! Might as well load up on more since they are worthless.
Bash the hell out of em too bro!
LOL
Thunder, I believe these are mainly jpm investors who fear that a wamu payout will crash their stock. Thats nonsense. Jpm took 500b last yr and the stock didnt take a hit.
Then they just did this 150b offering and again no hit.
But they are still terrified.
The others are just sad because they didnt release.
Dont know if we get 600B, but certainly 150 is possible.
Funny how jpm just took out 150, huh?
It may not be all for us, but a portion could be.
Maybe Dimon had an epiphany and doesnt want this robbery on his conscience when he meets his maker.