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If by your post youre tryin to insinuate that TPG is going to accept an $8Bill hit to their fund, u must be dreamin or on somethin. As long as they are holdin , i'm holdin.
I dont care who were up against(Fdic/Jpm), that i assure u will NEVER happen!!!
I have two basic questions for you.
(1) Does TPG still own their 230Mill COMMON shares???
(2) If the ans to ques#1 is yes....then do you really think TPG is going to willingly absorb that $2Bill+ loss knowing that WMB was fraudulently transferred to JPM???
I look foward to your response.
The days of the FDIC wielding its "SWORD OF FRAUD" will soon come to an end courtesy of one C. Dodd.
Shiela B's arse will be out on the street!!!!
CITGQ didnt have JPM/FDIC in court suing them for $10-20 Billion and likely to see every penny claimed!!! Huge difference.
Am i confusing my boards or wasnt there a sticky with the PR stating 2Billion shares were retired.
Why was it removed????
there is a loophole that jpm "may" be able to use. the treasury dept(paulson) secretly altered a law preventing large firms from buying failed ones solely for gaining their nol benefit to offset against their profits. this change was detected by congress/sub committe and was to be repealed but im unsure if it ever was. how it relates to this new 5yr nol carryback law im not sure.
Actually, TARP recipients would be unable to carryback the NOLs 5 years.
That does not mean that they could not use the NOLs in the future.
as per your own words, or did i misinterpret you?
as i stated only wmi will be able to carry back nols the years prior to 2008.
what time frame can jpm carry back, they were only gifted wmb late 2008.
while i cannot deny they may claim part of the refund after it is received by wmi, my point is they cannot claim losses prior to 2008.
please enlighten me if you know otherwise.
what we're discussing here is the wmb nols that wmi and only wmi will be entitled to lay claim to for the last 5 years. this discussion has absolutely nothing to do with jpm's "future" abilities to claim wmb nols.
if u read the law passed u would know that JPM is ineligible to claim the nols because they were a tarp recipient.
go check if u dont believe me.
Newbie here. i just bought in a couple days ago. Could someone please direct me to the post/s with the PR detailing the deal with MJNA?
TIA
Most of that $100 Billion i believe is WMB bond debt that JPM "decided" they werent going to be responsible for when they bought the bank.
Is this absolute refusal to absorb the debts of the acquired bank legal or is there precedent where it was done previously by the FDIC???
TIA
I thought WMBfsb was a wholly owned subsidiary of WMB, therefore it was part of the "total" sale to JPM as stated in the P&A agreement.
What am i missing here???
Chris Dodd proposes new bill to strip FED of regulatory powers.
Other provisions in Dodd's bill would:
• Consolidate federal supervision of banks under a "Financial Institutions Regulatory Administration."
• Abolish the Office of the Comptroller of the Currency and the Office of Thrift Supervision, and "strip the Federal Deposit Insurance Corporation and the Fed of their bank supervision duties".(my favorite)
Sorry if already posted
Ok...so the 8 Billion would be the unsecured debtholders(bonds) ie Bank of New York and these debts are due from 2012 to 2017, correct?
TIA
Can anyone please tell me where this 11.8 Billion figure that must be reached before commons see any return come from??? From the bankruptcy docs WMI stated its "TOTAL" liabilities was approximately 8 Billion. Where did this additional 3.8 Billion come from?
who's next in line to be paid after the HUQ's.
The KQ's or PQ's????
Didn't the judge rule already that setoff does not apply and motion was denied?? Someone please correct me if I'm mistaken.
i love ur choice of word...."EXCREMENT" lol
can anyone tell me who those two guys quoted in jpm motion are and what pertinent info could they possibly shed on the proceedings.
thanks for the info.
GLTA!!!
forgive my ignorance. i was in neom a while back but sold to pursue other plays. that being said i infer from this that further extension letters were issued subsequent to the first???
When was this " extension letter" signed by the judge???
All i can say is Wahuq gets paid first upon liquidation and is the"safest bet" and Wamuq gets paid last but Wamuq has the greater potential for astronomical returns while Wahuq payoff is $50 pps. Investing in all three Wamuq, Wahuq or Wampq would be safer, if thats possible in this situation. I personally own a large position in Wamuq and a smaller "backup" position in Wampq, but no Wahuq.
I guess im just greedy!!!
Total debt= 8 billion as stated in bankruptcy filing
Dear jamie,
I WANT MY $$$$$ NOW!!!!!!!!
When does JPM intend to repurchase/auction its warrants? Theres no date in the spreadsheet listed for them.
There was a request to transfer the 20 Billion but i dont think any money was moved. The OTS response was due on October 15th 2008 but they were seized before any approval was given.
its quoted in logan's deposition as the reason for reducing wmbfsb's capital by 20 billion.
True but I find peace in that their "judgement day" is coming very soon.
What's that 91Billion debt figure about??? Thought debt was 8Billion!
Referring to Mord's post, the law was changed by the former treasury head (paulson) so that companies could indeed purchase others and retain their nol benefit.
It was done secretly without the knowledge of congress/oversight committe and when detected, was supposed to be reversed or amended earlier this year. Done to prevent predatory firms like GoldSachs et al from "trafficking" in tax benefits.
WAS THIS EVER DONE???
JPM absorbed the banking arm of the company(WMB). The stock still trading is for the holding company(WMI), whom are currently engaged with JPMC in a multi billion dollar bankruptcy/court proceeding. This proceeding, if concluded in WMI's favour would result in a positive asset to liability position and a drastic appreciation of the share price.
Yes. Weil actually gave up his role as councel/litigator at UBS so that he could focus on this case.
Proper sites for DD = KCCLLC or Pacer(as clearly pointed out to you by previous posters)
BULL$HIT SITES FOR DD = CNN, BLOOMBERG, CNBC(THAT PRIK CRAMER) AND WSJ.COM ETC...ETC...ETC
Are you for real??? The audio tapes from the hearing on monday were posted online. The order came directly from judge Walrath's mouth. You should download them and take a listen. Believe me they are for real!!!
Base it upon the "FACT" that almost every decision handed down by the bankruptcy court has gone in WMI'S favour and not the FDIC/JPM. Most recently of note the confirmation of Discovery proceedings against JPM.
i will celebrate when JPM/FDIC settles and the money is out of my brokers hands and into mine!!! Not before.
All holders post seizure are limited to own, by court order a maximum of approx 4.75% of the outstanding share total. If anyone owns >4.75% the will be forced to sell off the excess shares until they have <4.75% as has happened recently. It has to do with preserving the ownership of the company to protect the NOL(net operating loss)/Tax rebate value. This value could possibly be eliminated or reduced significantly if a change of ownership occurs via shares being accumulated by a post seizure entity. I believe the NOL value is approx $20 Bil which will translate into a $6.5 Bil refund to WMI.
At present JPM/FDIC are claiming all or part of this refund for themselves!!!!
Just to confirm, weren't affidavits filed by former employees of Wamu that verified that the 4.4 bil was indeed a deposit and not a capital infusion to WMB as claimed by JPM?
Add Providian to that list also!