Washington Mutual Mortgage Reinsurance, Inc. - stock holders won in this major bankruptcy case.
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It's for all our readers too. No pressure! lol
People never like to listen to those immediately around them, that's why people from "out of town" get paid more!
One thing is that those who invest in the market often think that those who don't do not want to hear about what is going on or will misunderstand your intentions of sharing market news.
But, this story is not just market news, or stock news, or business news.
If you share this story with family and friends without suggesting they invest you are simply educating them about our democracy.
They may appreciate that.
All Right!
WE are doing what we can. Each person, each unit of the crowd, shall move and the crowd shall move!
Do it!
Take action, massive action!
Push the envelope and move beyond your comfort zone with this story.
Don't second guess who might want to know about this story.
Hi Trailbalzin, I like that screen name.
You add a very good piece to the puzzle here:
"What I think what would have been the biggest, best capitalized bank in the country with Chinese influence could not be allowed to happen.
Hence we are where we are. "
I was up 400% on a measly $100. I'm holding now at 300% up.
I can see this business plan being a big time success.
Travel agents, like so many entrepreneurs, make life much easier on those who travel. They will deliver to you, your e-tickets per your choices by email within minutes or hours and save you hours of time. But, they don't get paid until much later! F' that!
With this company many more people could afford to be a travel agent because they could get paid almost instantly. And, many more people would enjoy using the convenience travel agents provide.
This is a no-brainer as long as they get it right.
I hope all those on this board simply put one email to
streetsigns@cnbc.com and just put in the subject line:
Washington Mutual was bullied worse then B of A!
and the body of the email:
Washington Mutual's holding company, WMI, is suing JP Morgan Chase and the FDIC because the top BK law firm in the world says they have grounds to do so!
Or something to that affect.
CNBC news anchor Ms. Burnett, after commenting on Lewis's testimony today, invited viewers to write to
streetsigns@cnbc.com
The question: "Do you think the government and it's agencies have used too much power regarding the banking situation?" I paraphrased.
My reply:
"Just look at what the Paulson, Dimon, and Bair did to the largest savings and loan and is STILL doing to it.
They stole using abuse of power and they are sued for everything in the book by THE top law firms."
Keep it simple and to the point, e.g. if you have to ask just look into the biggest BK case yet.
laughing!!!!
lmaorof
it's all numbers! The next big number is the date of the next ruling. We need a profit here! lol
I could not have said it better, Grey.
WE should join forces.
D, I was getting behind you to help bring Jackson out of his depression.
Few people actually know what happened during the bidding process, but from what we are told bidding was basically non existant here and even if there was a bidding process, knowing how much time and effort JPM had aleady put into getting WMB, I'm pretty sure there was preference shown to JPM no matter what the "bids" from other banks were.
Quite tainted!! Quite tainted! Like, completely tainted.
Statistically speaking, one of these dates is going to produce a result close to our collective expectation! It's in the odds.
I agree Des6. I have seen the new TV ads for sure.
JPM is confident that they own this bank and these branches.
I have not questioned that for a few months now. What I question is when will WMI receive just compensation and so, when will the stock price go up?
This is a bit harder to figure out.
Cool. Thanks!
Tier 1 money is essentially a percentage of cash on hand to cover outstanding debts of any and all kinds.
I have children. I am fighting an uphill battle to empower them with fundamental self esteem NOT based on net worth or financial holdings while at the same time introducing them to money making ideas. Since we live in the NW I have talked about WMI and WMB for months now.
Even churches support the "bottom line" financial necessity rather than the value of the person as a living and breathing valuable entity of life force.
Chomsky has good stuff on this. Judge Walrath has a large roll in representing human dignity and justice to the whole nation and world as she rule on the WMI's BK case.
Kudlow is certifiably insane. He is on both sides of no issue and completely emotionally unstable and a fear-based big mouth.
Note he has finally back down from his mythical tirade about "free market capitalism" since there is not such thing anyway!
And even a blind squirrel... so he sees a nut! LOL
So, whether a good screwing was delivered to B of A and/or WMI share holders is actually not in question!
The fact that Paulson and Bernake did what they did is not even in question. They DID coach management to do and say, or not say, things that would have been in the best interest of shareholders/ tax payers.
We need a strong public figure to step up and take on the WMI cause.
Hi Billiam, Thanks for the reminder and perspective. Yep, the waiting game is in my face today. It's June 10th, smack dab in the middle of the time between the end of May; the last event, and June 24th.
The prices of the WMI stocks are holding, the core issues of the case against JPM and FDIC have not changed and there is no indication that WMI is backing down in any way.
When key news comes out there will be a strong movement. Many investors are aware of this play now and there are lots of longs and institutional investors here.
Exactly. Profit for profit's sake makes money a pursuit unto itself. That misplaces the very meaning of life.
We work to live, not live to work!
I hear you Lawrence.
And, something has to be done with Chrysler too.
Grey and VistaV, I dropped out and joined a commune in '76. Why? Nixon and the Vietnam war really pissed me off among other things. What I found was that the Whole is made of parts. Each part has to develop for the Whole to show it's best.
With JPM/FDIC/WMB/WMI fiasco we are looking at a huge result of lots of parts not having developed.
The opportunity is for the parts to learn from the mistakes of the Whole.
Grok?
I have hold a similar opinion.
For those interested -this is a graduate or doctorate level course in passive aggressive corporate behavior.
The number of red-faced execs at JPM, :( , is increasing ten fold as the pressure builds there. They must be coordinating their quiet response at many levels by now.
If those ritzy JPM investors bring their money over to WMI stocks we will see buying pressure against their own agent, NITE, as they clamor to get into the action!
Come on Judge, bring down your gavel baby! LOL
Sorry I had to jump off the board suddenly last night.
Please continue to tell people that JPM Chase is up to no good and that one reason our economy is still slow and slowing is that they have not taken responsibility for their part and settled up with Washington Mutual, Inc, the ex-bank's holding company.
To find out more simply go to google and type in wamu story or go to wamustory.com
That's probably the easiest thing to say quickly. Most people don't seem to think much about a large bank heist because it is beyond what they have imagined. This is the first hurdle to participating in this protest and expression of outrage; that they get their heads around it.
Like I posted over there, even if you are Putin, a 335 page filing in a court case that has you in it's cross hairs is something to take seriously. JPM is not on solid ground here and I feel that the White House, though having encouraged JD in the past, does not want to help him now.
A good way to find out the answers for myself is to hold long.
With 50 states and only 1 down my little bit of money here could grown to lots in a few months or a year.
That works for me.
Good point... JPM is walking on thin ice. This is so easily verified in public record. I wonder what the JPM balance sheet says regarding ownership. Maryatano is generating tax record reports on titles.
So those are WMB titled properties today.
Funny thing is that my local branch, which now has a Chase sign on it, is not on that list.
So, can you see who is on title for 17191 Bothell Way Northeast
Lake Forest Park, wa 98155-5534
I need to know more about that.
I'm looking it up. Thanks Grand!
A relevant past posting:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=35055370
Just enter "second & union llc" into google!
When are you going to be here?
hit me up at bizguide@comcast.net
Of course. I expected as much but I always think about the broader readership and take ops to add stuff that might be useful.
The black box that is JPM is about to be shoe-horned open if Jamie D and WMI can't come to some compromise.
Cool. Thank you Lawrence. If the the tax payer was known it was be on there.
(King County officials don't want to rush to judgment! LOL )
We shall see!
Yep. What do I expect might otherwise happen?
I expect some oversight that provides tax payers' interests protected since the infrastructure of our economy is our government and therefore all large businesses are in debited to the U.S. Democracy for the market freedoms they have.
That's common sense, isn't it?
SF, The conclusions you draw are very familiar, and a good reminder. I believe a few of these points dawned on my about 4 months ago. I know these points have been made several times on these boards. They all legit points of logic; WMI was probably prepared for the attack, JPM is going through the motions, and title has not really changed hands. Someone in Real Estate could check that. I might just have to do that! The King County records should reflect, by now, a change in title on real estate, if it has indeed occurred.
Not that kind of string!
String theory is a Unified Field theory. Like everything is connected but exactly how is what we are trying to figure out.
I see that a big learning experience at hand. The Democracy, established to avoid tyranny, has not kept up with economics of democracy. So, we now have financial tyranny.
The judge in this case is apparently quite familiar with how BK firm owners have tried to shirk responsibility and how creditors will level unreasonable claims against a dying company. Here we have a bit of a reversal where the FDIC, a government supported entity, and a large predatory bank supposedly rode to the rescue of a bad bank, when in fact they continued the pillaging.
The decision about property ownership seems to be the pivot point here; if the 4 billion is given back to WMI then I will see that common sense is alive and well, if not then many of my suspicions will be proven correct. I have put my money on the hope that common sense property rights will prevail.
I believe that WMI management has asked for fair value or a trial. This stock price will go up if they get a shot at a trial and if they get the 4 billion, I think.
Roger all that Lawrence. No disputing any of what you wrote that might be disputable.
As you say, after the judge rules then we will see what protection JPM has that is above the law. It is that protection that helped strip WMB and WMI of their value already, so that may be the only real argument for siding against WMI; they loose every time they go up against JPM.
We shall see.
As far as what I do... I will claim the fifth!
It takes all kinds. Some give more than they take and others take more than they give. Now some take more on one level and less on another...
The big picture thinking is fun for me. It puts a perspective on who, what, and why. For example, President Bush's behavior was apparently necessary to move enough voters to action. What action? We shall see! ...pendulum and cycles and things...
With JPM's purchase of WMB the Northwestern citizen is faced with the decision to support a big, East Coast banking monolith or side with local bankers. Another decision to be made.
At the Justice Department level, no matter what systemic protection was desired Judge Walrath is going to have to decide in line with objective laws and precedents.
I'm wondering where the good, solid arguments for JPMs position are. I guess there aren't any!
Lawrence, Thanks for the daily overview. I agree with your assessment. The talk about WMB or WMI going forward as an operating entity or entities seems even more unlikely than any of the other more immediately gratifying financial developments available for all involved. And if the U.S. is not about immediate gratification I don't what it's about! LOL
We can all wait if we must. But, even if you think you can it doesn't really matter, the Judge may not want to.
Silly.