is leveraging all of Canada's mining industry, lol!
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The FDIC has it. It hasn't gone anywhere, and won't until the bankruptcy is resolved. That's what the stays are about.
Wrong again. It is still in the possession of the FDIC, the judge mentioned that too as the FDIC was trying to beg their way out of it. The FDIC Receivership holds the 1.88 billion, the judge specifically asked about WHO WOULD PAY IN THE EVENT THE FDIC WAS FOUND TO HAVE DONE WRONG! And the FDIC receivership said they could only pay out what they held. Again, this case is not over, until it's ALL over, that will only be when ALL claims are settled, then, a division/allocation of assets can take place.
Didn't you read the report on the hearing yesterday? It's quite clear on these matters.
I'm sorry, but i'm going to have to stick to reliable sources, like Judge Collyer, who just agreed that THJMW has ABSOLUTE jurisdiction over the BK proceedings. It doesn't matter how many frivolous motions JPM or the FDIC file, it doesn't change the facts of the case, just more frivolity to be denied and overruled by Judge Walrath, who again, has now been deferred to by the D.C. court. The numbers have been gone over by dozens of capable people, yours seems to be the only interpretation that says otherwise.
I'm going with the majority here, and my own extensive reading of the pertinent paperwork.
A reversal has occurred. JPM just had to shell out 3/4 of a billion dollars, it is clear who and what they are, and this case is clear as well, the Judge let you know loud and clear yesterday with the Wachovia mention. 20 billion she said.
20,000,000,000.00
Oh, the total settlement/forfeiture here will vastly exceed the debt. You should maybe just get on board, not only will it be profitable, but it's the RIGHT side, the side of truth and justice.
Wrong. That's just more JPM/FDIC bluster and propaganda. The court has absolute right and jurisdiction to say exactly where that money goes. This case is NOT just about this 4 billion, that's just the appetizer. In case you weren't listening yesterday, Judge Collyer even mentioned 20 BILLION, she also invoked Wachovia, thereby giving even the dimmest of bulbs, a clue as to what's going to happen next.
Couple that with the fact that having your mug splashed on the internet with a headline about how you bankrupted an entire country, oops, I mean "county" of course, and what you get is an environment where everyone knows you are a crook, and everyone expects you to go down, and even your former high-power friends won't take your calls.
Get it?
Me too Grogger and Penny, but Tejas is a little far away as well. I would however, make a trip to D.C. to march on the SEC, FDIC, and the Federal Reserve.
The SEC seems to have done some waking up lately, perhaps the time is right to push for investors rights, and repeal any rules that allow companies to go "silent".
Figured it out, should have spent more time checking out features here on I-hub. Check out my new signature!
Awesome! I set my copy as the desktop on one of my computers, and it's steadily making me smile today! Hopefully Jefferson County can now get some justice, and some relief.
And we are next! JMHO of course!
Fsshon, it was the banner last night on the front page, and has since been changed. I knew it wouldn't be up forever though, so I took a screenshot for posterity! So I don't have a link for it, but if there is a way to upload the JPEG to I-hub i'll be happy to put it out there for everyone to have a copy. Or alternately, if someone has a site to host it, i'll be happy to send them a copy!
Agreed. And what's more, ample empirical evidence since that time, of their complete lack of ethical considerations, and indeed some criminal activity.
And yesterday also shows, that JPM is in settlement mode, this explains why they have been increasing cash and liquid assets recently. I believe we are next in line.
Divergence is an excellent term for yesterday Jerle. 100% agreed, a one-two punch, in court, and also in what SHOULDN'T BE pertinent, but always is...and that's media perception.
With a huge banner headline on the Huff post declaring JPM bankrupted an entire county, the reversal of perception has begun as well, and lambasting JPM for it's many transgressions, may turn into a feeding frenzy sooner than later IMO.
High time I might add.
It looks to me, like JPM, is in the mood....
to do some "settling"!
NOT admitting fault mind you...
<shhhh, here, have a lot of money Wamu, just shut up already>
man, had to do a screen capture of JD all over the frontpage of the Huff post. 722 million. epic. it gets even more fun now.
http://www.huffingtonpost.com/2009/11/04/jpmorgan-settlement-bank-_n_345889.html
That or it could be that he saw something really good, and wants to keep a lid on it if he can until he can do a nice fat buy order in the morning, and then drop a bomb.
Or possibly it was just another yawner, more delays.
Gold 1085.00
Wow!
Tex: yup, added more, and OH HECK YEAH! I am retiring early on a big pile of gold, potash, niobium, and vanadium, lol!
Off-topic: How 'bout them Horns? Is the Rose parade going to be yellow again this year?
Gold at 1079.00, a new all-time high! Looking good here, and sooooo under the radar too. No action at all today.
Correct me if i'm wrong, but if it holds, won't this Friday make 25 straight days of gold above 1000.00 an ounce? And we are in the gold business again?
GLTA this week!
Dragynn
http://www.sec.gov/complaint.shtml
lol, got this one in favorites, gets used a lot!
Happy Halloween all!
Texas 41, OSU 14
I'm just saying.......
That's what I was wondering too, if he hadn't moved back to Delaware on the sly. But then again, what do I know, only the "veterans and warriors of CTKH days gone by" know anything!
lol!
He's not current in Nevada. Where does that leave him? Shouldn't trading be halted in a company that has allowed their corporate registration to lapse?
Half a billion less debt equates to an extra .29 of worth for the commons, yes?
500,000,000/1,700,000,000=.29 roughly...
I don't know the full share structure here, so I can't hazard a guess as to how the preferreds fit in, and it's just subjective and kinda arbitrary anyway.
Agreed with your math. $452 million in debt reduction is still a nice chunk of change, without checking all the claims from all three lists that were expunged, I couldn't give an accurate figure as to how much total debt got taken off, but there were some other noteworthy big numbers in there.
So maybe half a billion total debt expunged? Just as a ballpark figure?
3744 IS an amended version of 2299 right? Not in addition to?
Austin works for me too, it's a little drive either way, but Austin's a lot more fun. I may see about finding a place and setting up an informal happy-hour thing if at least 4-5 people could make it.
Any Texas Wamu'ers from I-hub want to meet up and have a beer and a good jaw about this hyar circus we all bought tickets to? LOL! Central Texas that is (big state), I can do San Antone or Austin.
Wow am I ever up from buying in the .11's and .12's! Pays to have cojones of steel, lol, (being a Texan, I was born with 'em).
In a half hour, it will be 4:20 Greenwich time I believe Richboy, so yes, stay awake until then.
lol
Are you suggesting that $12.00-100 share bid-whacking may be something less than a legitimate sale? LOL! nah, couldn't be...
I can imagine a LOT Godfather, LOT$$$$$$$$$! A huge gapper and a real mother of a short squeeze early on as 45 million scramble to cover, maybe more if there are NSS shares that aren't being reported which is always a likelihood in pinks.
Yep, I can imagine.
See you in Vegas if our imaginings work out!
Felix Salmon: "It increasingly seems as though a panicked FDIC thrust WaMu into the arms of Jamie Dimon, who could — and did — ask for pretty much anything he liked, including the right not to have to pay back any of WaMu’s creditors. The result was that the bank wholesale-funding market went straight into crisis: one sui generis default (Lehman) might have been navigable, but when you have two in as many weeks, it’s pretty clear which way the wind is blowing."
Nice find Jestir!
Deal. Count me in, i'll put in the request today.
The ruling could come at any time. Saying differently doesn't make it so. It can be repeated over and over and over, still not going to make one bit of difference to the judge what anyone on a message board says.
The judge said "ASAP", that means "as soon as possible", get it? I doubt highly that it meant months from now, that's just silly talk. And again, most of us KNEW she wasn't just going to bang the gavel and hand over 4 BILLION dollars right there, it's a lot of money.
The Judge is not the problem here, the problem is a crooked system that stole Wamu in the first place because they weren't part of the "club". That's where anger needs to be directed, write your congressmen and let them know how you feel, heck, write the Whitehouse, both the President and Vice-President's e-mail addresses are right there on the site. Bombard media sources with calls and e-mails, get active, there is a lot more at stake here than just Wamu and our shares.
Wow, that's twice we agree on something Penny. Okay, i'll try to call the CEO this week, maybe a serious bombardment of phone calls will convince him, who knows? Worth a try. All I really want, is what many others here want, and others are desperately afraid of, a return to communication. And after all, this IS a public company...
When the heck did it become okay for PUBLIC companies to act like private companies anyway? When did it become okay for them to stop reporting? Anybody have the quick and dirty answer?
I was running with the bulls in Pamplona back in July...and you know what they said? They said:
WAMUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUU!!
Have a great weekend all!
Dragynn
Well Penny, when I was moderator, you implied that it was my job, so now that you are moderator, doesn't it mean that it's your job to contact Cetek regularly and keep us updated?
And see if you can get some updated financials while you are talking to him please. And try to talk him into a reverse split too, it really would help out all around. Also, suggest he change the ticker and cusip so we can flush out the billions of NSS and get this thing moving, i'm ready for the MOASS!
Thank you and have a great weekend!
Dragynn
It might. Heck, it could close at a dollar! I doubt anyone knows for sure, I try to always add the "IMO" disclaimer, that way I don't come off as a pumper, or a basher, or some sort of smarmy know-it-all.
That's good news Johnny! Thank you, means more time to accumulate! You are the authority on this matter right? And I can count on your word?
I agree completely. This post I just saw on the yahoo board, expresses what I think in a nutshell about Clark and that stunt today:
The most revolting thing about FDIC attorney
John Clark's words and actions today is this:
We paid for this prick with our tax dollars.
That's it, i'm done swinging this stock, I just got hardcore long, and active, as in "wear-my-congressional-representatives-out-with-phone-calls-and-e-mails-expressing-my-outrage" long.
By god, we have a mid-term election coming up next year, and congress better get off their collective ass and do something between now and then.
I have heard you say that about a dozen times so far, and every time you've been wrong...perhaps you should say it some more, that might help.
And BTW, why would you go to school if you are so rich and smart? Just curious...
Post of the day Lawrence! Member mark for you! LMAO!
I'm reminded of the witches in "Clash of the Titans" telling Harry Hamlin's character to use the Medusa head against the Kraken!
"A TITAN VERSUS A TITAN, CACKLE, CACKLE"!
Gotta laugh...or else the fact that FDIC thugs not only seized a solvent bank, but actually showed up in court and threatened a judge over it, would be far too depressing....
Agreed. Nothing will be safe, they wiped out thousands with this illegal seizure, if the court lets them get away with it, then all bets are off, and me, and my money, are outta here.
Anyone having trouble with TDA's "news" function today? I get the little symbols that pop up, but they won't pull up so I can read them, and I just now got a news symbol that popped up on WAMUQ.