Washington Mutual Mortgage Reinsurance, Inc. - stock holders won in this major bankruptcy case.
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I would not say that, I am not saying that and I unless I had inside information I couldn't say that without lying.
I have not been watching the Level 2 today but in the past the MMs, particularly NITE; KNIGHT, buys as bid shortly after a sell at ask.
Given the amount of control NITE exerts on this stock price and the ties NITE has in the business, coupled with the SEC's hands off policy on pinks and Qs, it is easy to conclude that a particular price is part of the upcoming deal terms, imho.
It is quite clear from months of watching this stock and other WMI stocks that the MMs are maintaining the pricing per someone's instructions, imho.
Hello Enterprise, Thanks for the insights.
I'm trying to relate what you wrote to WMI suit against the FDIC!
lol
"The allocation of the purchase price may be modified through September 25, 2009, as more information is obtained about the fair value of assets acquired and liabilities assumed."
from the link you posted.
That's what I hear.
We will have to get some of the currently organized ruckus makers up to speed on this tragedy if the two parties don't work it out.
That's a bit of a weak point here because on the face of it, it's two banks fighting over their money. But actually it's much more than that and making that bigger point to the people is going to require some leadership and insight.
Even if it's just 2 or 3 people doing a sit in at about 100 branches around the country sometime in the Fall... or maybe more. Something non violent and inexpensive; like a sit in that extends the hours of the banking operations! lol
I was reading The Civil Disobedience Handbook today!
In it, the author republishes Henry Thoreau's essay: On The Duty of Civil Disobedience"
I bought it 7 years ago, when I was just appalled at the Bush admins antics. I finally read it today thinking what I might want to do if JPM and the FDIC get away with taking WAMU down for only 1.9 billion!
Seriously. JPM is very exposed now because they have all these branches out here and around. I mean there's exposure and where there's profits.
So, anyway, Thoreau says that a man and his government should attend to the matters of the hour!
When the courts arrange to try people later or save discovery for another court event that is not certain to happen anyway, it says that there are ways that due process can be completely circumvented by legal means. That is not what the spirit of the law is about. The judge asked about the remanded state of the Texas case and the attorney clarified that it is recommended to be remanded but not yet done so. Even the possibility of discovery not happening in a case like this is complete insanity. I hope the judge sees that and I hope that there is no way that JPM will not be subject to investigative discovery.
See, now that is life experience talking and you are not too cynical to believe in possibilities.
FACT: Every moment of every person's life is full of possibilities; the "what if" is the step before the epiphany!
You know what I mean. Like when the Apollo 12 or whatever astronauts had to get home... and stuff like that.
We all have to remember that creating things is about the "yes" in every moment. Instead of the "no" just say "maybe and" more often.
Transcending the downer mind set of "can't, doesn't, won't, ain't and never" by just adding an "and" instead of a "but" or "no" and see what happens when you have to come up with an answer or solution to even the smallest problem. It tells your brain to keep thinking about more possible outcomes.
Like with WAMU, we would all do well to enjoy the trip and encourage possible solutions to be posted here because those monitoring our posts may actually need some out of the box ideas... you just don't know and it's always worth the effort to create the best possible outcome rather than surrender to something less extraordinary.
Unless of course that's what you want; mediocre.
I can't deny that. If they start to drag this out seriously over the summer it may go for a long time. That's just logic there.
That's why we are going to be on our knees for a few more years... until the Daddys and the Mommys get humble enough to not care about how they look or where they work.
I saw a picture of a mom wearing a cut out man's briefs as a top today!
The caption was, It's the economy stupid.
Ain't it? I think so too. Just like that, Doc.
We have to figure out what we can make that is going be cool enough to sell at our prices.
There are so many many niches for all kinds of new materials, new devices, new technologies. WE may have to suffer a few more years before we get this basic economic fact.
Gold, oil, platinum, etc is not the answer, as you say.
Stuff is and will always be the back bone of any economy. We need to lead the way by making quality good stuff people will buy, not with planned obsolescence but with upgradable parts or return for upgrade or something.
Good point made here. The amount needed to make all stocks whole is modest compared to the likely settlement. I don't keep these numbers in my head but I remember hearing this before.
ATM means At this moment, I hear. Jay has some communicationHe issues he is working through, imho.
He intends well.
I guess we have to be on our collective knees before we get up to do something to fix the problem.
I don't like the way the media and advertising diss and humiliate the blue collar laborer. More citizens should be willing to work at some kind of manufacturing business, and HEALTH CARE! !!!! JEESE, cut costs people!!!
So, anyway, let's be worth something to the planet by not just being the home of the big derivative! lol
There are many cool, green, thingys we can make for people everywhere that they will want to wear, use, trade, build with and all this and that. WE NEED LEADERSHIP. I don't care where the f it comes from; gov or private ass enterprise. We NEED leaders to take long term investments in our kids and our future, not for the next f'n quarter, ifykwim (if you know what i mean) ; new acronym.
Right on all counts but the price of U's. WAMUQs closed at .11 on Friday. There was an after hour trade that was a mistake or something.
I checked with my broker rep.
Anyway, the return on the commons should be qualified by considering the risk involved in commons vs. preferreds.
Your line of thinking is very thought provoking.
It reminds me that the only real value on the global stage, the only real thing to support any currency is manufacturing.
If the U.S. could rebuild our manufacturing base into an efficient, classy, and profitable productive massive engine of cool things the world wants to buy we would be good.
In the event that we don't we may just have to pay back the Chinese with sleight of hand!
I'm going to dodge your question. Sometimes Jay needs to be more clear on his own. Ask him.
Jay,
You create your own problems dude.
When you say the commons are not $12 you are doing exactly what those who say it is worth $12 do; speculating on thin data.
The highest I have heard is $12. That's a goal, not a curse!
You say one thing, someone else says something else. Both are equally valid, or invalid. That's a given.
Slamming those who say it will go to $12 and then giving your opinion on a likely price is silly, at best, and blindly obstinate at worst. There simply isn't enough data in the public domain at this time to be so certain that I would confidently slam another's opinion, unless I am missing something. Of course shorters must do so. LOL
imho
ABIG, That's all I'm saying; what might happen.
That's why we invest; what might happen.
Hope for the best and be realistic. Why not have fun hoping for the best?
Just enjoy and realize we might be dreaming but in the end, we may have some money too.
WTF? So what if we are hopeful that the Us will return 100 times the current price? What''s harm is that doing?
Ps may get 1000 dollars each and the K's $50 each. Just divide the current price of a share, on any given day, into the face value and you have the potential return from that point on.
There's no pumping going on here.
Jay, Liquidating is a word for selling things.
It's another word for wiping out the corporate entity too, but not necessarily.
Liquidating assets is also saying that the they will simply be in cash so they are even more attractive to a larger spectrum of prospective buyers.
This is not higher math.
Remember, this holding company is like a friend with benefits for the buyer. Of course, JPM will try to devalue it but WMI is worth plenty and commons have a hope because there are many corps that want to go into banking at this time and could use the holding company and NOLs. At least that's the last I heard on this particular topic of WMI's possible direction after BK.
I don't why Jay is over thinking things. No one is getting paid to post here!
Thank you for your DD Jay. A few typos fixed and I could fully understand what it is your are saying.
You didn't demand anything. I didn't say you demanded anything and for you to use the word, "demand" is a mistake.
You asked me to do something for you. I said that I wasn't interested in doing things for you.
What you are saying is the same as bashing the stock. I suggest we leave the bashers and the pumpers alone as much as possible. Do you know how you sound, always complaining about people?
You do what you do. I do what I do.
I don't ask anyone to do anything for me. I don't owe you. You don't owe me.
We are all volunteers here. No bosses. No followers. Just people reading and writing.
Post what you will, but don't do it so people will owe you something. I didn't ask you to do the DD you are doing, dude.
You give freely, there are no strings here. Right?
The mods can delete whatever they like. I don't care. I'm glad they're here.
Jay, I don't know why you think Diamond doesn't understand the complexity here. I'm sure he does.
He simply translates the data differently than you.
That's not a problem for me. Why is it for you?
Thanks Jay. Ooops.
I don't doubt what you are saying is true, Lawrence.
A little math for the faithful! lol
$1000 / $24.98 = 40.03 times.
P series return at present price when at face value
$12 / .12 = 100 times. U series, commons, return at present price if it reaches $12.
$50 / .63 = 79.365 times. K series return at present price.
Something to think about as we move into the next week.
Now there's simple and reasonable deduction, Doc.
But you can't control another's anger... try as you may.
But that isn't about WMI or WMB.
I have limited dollars in here too. It's not so much about the amount anyway. It will be nice to make 50 times the investment but it's about this opportunity to learn about investing, be part of the change in American business culture and stay close to one's investment.
Just through stuff out there like a some lame brained idling
wastoid:
"I don't think we are going to get a fair deal."
WMB and WMI haven't gotten a fair deal so far!
I don't know what you're planning on but thanks for the insight.
I think 300 Billion might be fair but if they get 30 b that would do.
You are wrong again, and this time you are wrong about what you, yourself wrote:
Posted by: jhdf51 Date: Monday, May 18, 2009 3:20:06 PM
In reply to: JayTheRipper who wrote msg# 72247 Post # of 73464 [Send a link via email]
Well at least the crazy going to $8 $10 $12 has quieted down...
Remember what I said that we will be lucky to get a settlement at $1-$3.
This bill, on page 21, describes, what I translate as, assessing the preseizure value of WMI and WMB, the current liquidated value of WMI and WMB, and various settlement scenarios and possible litigation strategies for moving forward through the courts.
This is to be expected for the money! Options and serious, accurate consideration of options.
complete link please.