Washington Mutual Mortgage Reinsurance, Inc. - stock holders won in this major bankruptcy case.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Cramer definitely danced lightly around the WAMU deal. I think my DD on this needs to focus on the most recent JPM efforts to raise new money.
With Tim G in China, recent positive press out on Bair, and the judge promising to rule soon, there are lots of ducks lining up.
Jim Cramer just called the JPM / WMI deal an opportunity.
Jim Cramer just called the JPM / WMI deal an opportunity.
Jim Cramer just called the JPM / WMI deal an opportunity.
I like that reminder Lawrence. We have to keep those good points on top here. Thanks!
I saw it too. Weak. I don't know how the sheeple will take it.
I would like to hear something from Cantwell's office!
She supposedly started looking into this last Fall.
WFT?
I see not one trade in Ks after more then 20 mins this morning.
There's one for 1000 shares.
I see not one trade in Ks after more then 20 mins this morning.
There's one for 1000 shares, now.
http://www.cbsnews.com/video/60minutes/
I don't think the webmasters have put tonight's show up yet.
Hey, thanks.
I just like to be generally correct rather than specifically wrong.
After a few months, one's word is at least par with the best guessers!
LOL
P.S. I don't like dissing anyone. Who has time and what's the point? Confusion has it's way of delivering it's own just deserts to those who deal it out. By "confusion" I mean anything that isn't basically a positive or constructive statement. For example, note how many times people state what they don't want. Just listen to yourself and others around you talk normally. We often state emphatically what we don't want. Well, I don't want an infinite number of negative experiences! Give me a break! The ticket to using my brain is to come up with what I do want and state that in simple terms. I'm half way to creating what I want if I can spit it out! Try it, you'll see. I want this stock price to go up and I want justice to be served. I want intelligent comments about the risks and rewards on this stock.
In a few PMs from a few months ago he referred to close up and personal experiences he's had in the trenches of similar cases.
Good point Suprabiz2, the sooner the ruling on the 4 bil the better results that June 24th hearing could have.
Yes, maybe they can if the mods would pass it up the chain of command.
It's 2009! And they could use the tech development as a PR too!
Is this company public? When they get out of court the stock could sore!
I got that much!
Thanks.
I'm saying that a more advanced search capability using text strings with quotation marks would isolate specific phrases and would allow for search results that reduce the time to find specific info. I'm sure you see that.
Here's a relevant post:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=34388147&txt2find=fraudulent|conveyance
I only want to find phrases, not single words. Can that be done?
Did you use quotation marks?
We are like detectives but really we are late on the scene. lol
The damage is done and all the principals know the confidential reality.
The JPM lawyers know that any loss in court, no matter how small, means a turning of the tide.
With this single ruling the likelihood of much of JPM's original, massively greedy stance, will be eroded. For example, if that WMI deposit isn't JPM's, what else isn't based on similar grounds? With so many assets in WMI's name the WMI balance sheet could look real good really soon!
Yes, at the root of this whole thing is the basics of contract law being broken and the related fraudulent conveyance issues.
The FDIC has basic contract law in place between themselves and banks. JPM is party to this conveyance. They have lawyers. They could have steered clear.
If iHub board searched allowed text string searches that would make it easier but I think it only does single word searches. Searching for text strings like "fraudulent conveyance" would add tremendous value to the DD ops here.
For those who are looking for investing guidance on WAMUQ or WAMKQ or WAMPQ I would like to point you toward Mordicai's posts.
Note the posts of Mordicai on here. He does't recommend buying or selling but his extensive experience in corporate law is seen in posts like this:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=36522919
Draw your own conclusions.
yes and yes. But don't take my word for it.
Good news defined: that which will help assure a rise in the price per share.
Some people sell on good news.
Between now and June 24th Judge Walrath has said, on public record, that she intends to rule on whether WMI gets the 4 billion on deposit at JPM or not.
If WMI does get that money to use then it will be in a much better position to do business profitably. Therefore, more buying of it's shares, even though it is in BK, will most likely occur. Buying will increase the share price. IMHO.
This is definitely not the time to be on the sidelines.
Some amount in soon is a good idea.
I sold a "dog" I had high hopes for on Friday and took a small loss to pick up more Us.
Ah, the dream! I love the dream and I'm hunkered down for the reality.
Bring it on.
This might mean that the NOLs are more valuable to a company other than JPM because JPM likely bought lots of WMI stock more recently. Maybe.
If it can be shown that JPM does own WMI stock, directly or indirectly, maybe then the motivation for JPM to acquire WMI drops off dramatically. If so, WMI has more of an incentive to come out of BK for sure instead of selling itself.
I think WMI may have thought that JPM was going to make them a better offer and left the 4 billion on deposit due to that. Now, however, things have changed dramatically.
JPM can not have it's cake and eat the whole dang thing itself! Go figure!
If Paulson was interested in facilitating a slap in the face for China, he did that.
Now the justice department grinds along so it looks like due process in our democracy is still in tact.
umm...
That article brings up a lot of ISSUES !~!!!!
They will continue to trade until they are suddenly halted. lol
Rockie, That's the way I see it too.
It's a carry forward credit. If a company is definitely going to be making a profit, then it is similar to cash in hand.
However, if a company is not making much then the value of the NOLs is reduced.
I may have just answered my own question; an offset to the NOLs is the purchasing company's income projections.
So make your moves before Aug 31 everyone! lol
WMI having 20 billion / 7 to 8 billion net operating losses and 4 billion in cash makes for one attractive, curvy babe of a stock; all q's, for the time being, are looking good while still in BK.
The short term play here is pretty obvious so let's not act like there won't be a chance this will rocket up and then in a week or so come down again on uncertainty in BK courts and related law suits.
Is that realistic enough?
Perty much.
Roger all that, Grandetourism!
Thanks for the toursimo of upcoming events.
Yee Haw! That's what I'm talking about!
Grey, That is a one well consider opinion. I have to agree that your making sense. The one problem I have, and yes, I am an idealistic stubborn naive and optimistic type, but sh()*%)#@& t
How long does it take to really tell who that money belongs to? !
You know what I mean? JPM has so little to go that the DD on this topic seems useless.
But, yeah, there are hairs to split.
I did. Those are reasonable numbers if the decision is in favor of WMI this week. Fact is that the story about this stock is out there now. It's not like it was March something.
If there is some legal maneuver that all the people on this board are missing that would compel the judge to gift this money to JPM... well... let's not go there right now.
The MMs will do what they can hour after to hour to hold it down and there will be renewed buying. There was plenty of selling the last few days. I am not going to take the time to do an analysis and it's not my forte' but if we break .18 we could see .25 at least, I guess. A more detailed answer should come from a technical analyst with more experience than me.
Ks - 1.30 or so, is my guess
Ps - $40 or so, is my guess
I am going to go out a limb here with no data whatsoever to base my opinion on except my need to be hopeful and say,
YES! We are going to get a ruling by Friday!
The 4 billion will be granted to it's rightful owner by Judge Mary Walrath.
Now who has a problem with that?
NITE?
This is exactly what the boards are good for; back and forth points of view.
I think the NOLs are going to be at least 7 billion if those who do those calcs are correct. The total was 20 at one time but there are some adjustments.
Point is that there is likely very few off setting costs that could truly compromise that size of tax "credits".
The NOLs are valuable assets because they reduce any purchasers tax liability. That's like money in the bank.
But if there are expenses for acquiring WMI that might offset the benefit of the NOLs then the NOLs are not as attractive.
I many BK situations there may be NOLs but what is the unknown is the cost of acquistion, not just the assets.
This is the unknown I think.
Exactly, and I agree.
The question which has not been answered to my satisfaction yet is; is there some expense that would offset the NOLs thereby making them less valuable and opening the door to other options.