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Wow, great post. This video is truly shocking. 9 trillion in extended credit that translates to 30K per every man, woman and child in this country and nobody's tracking this?
What the hell is going on? As IG inspector general wouldn't that be 1st on your agenda?
Great find, go wamu.
WOW...now we're worried about weather or not shares are valid, phantom...etc. Why would it be any different than as you trade now. if you were able to purchase the securities they will be treated as such and you will be paid accordingly.
My question is; are you guys for real? Wamu hasn't broke free from the .10-.12 range in weeks. Get a grip people, this is a long term deal if it ever pans out.
Go wamu!
I'm betting on that too, really. However logic tells me things will get much worse before they get better. JPM could care less about their rep, people easily forget. The FDIC is a private entity who know what they could try and do.
We are all in too win and wamu holds strong at .10 I always hope it rises but it has fluctuated up and down week to week, dates, news etc it doesn't move. This will be a long battle thats my prediction. I hope I am worng, I could use another property so i wouldnt have to work at all.
GLTY
it's gonna be a long year> no way this settles this weekend, june or sooner. I had the unfortunate luck of being on both sides of lawsuits, these things take forever.
LMAO right back
I have to admit this board is too much fun.
that's all I'm saying people. Be cautious load up if you can afford or take your profits if you can. BE SMART! dreaming costs nothing but trading intelligently can make you panic less. That only helps the mm's, yeah I know buy selling today i didnt help our cause, but i know that this will go up again. I kept a good position in case.
so, i hate to be negative but what if stocks get canceled? you're really gonna kick yourself in the a.. for not taking profits. Maybe you're in to win or lose and thats cool i can respect that. I just like to have the upperhand. Maybe you'll be a millionare if this hits, and you may end up with way more than me, but being cautious is what put e where i am today.
again, we all think different and I hope you're right.
i was stating the news in regards to profits, which as another poster promptly said chump change. The 4B will create an upswing, yes of course but iMO this stock will drop a bit more with the mm's in control.
I have taken my profits and will load up again. don;t worry about me.
ok that's silly. Sorry to say but we have had a down trend 4-7% daily and you think we will gain 20% in 2 hours.... to each their own...good luck with that.
ummm have you seen wamu's liabilties? I am surprised it didn't hit .06.....
this may very well be, but i like to be realistic and have bought and sold this stock to the tune of 80K profit. So if this pay day never comes, I will still laugh all the way to the bank. If it does. I always hold 150K shares.
I am no expert and even if i were this could go any which way.
I want wamu to win, but I think it will take longer than most expect. Come on, the dates that were set in the past came and went to no avail, do you think this time will be different?
I don't think so.
GO WAMU
News only moves retail, the mm's are forcing this down. Gonna be a long year folks.... GO wamu
I sold 200K shares, I will buy them back at .06-.07 the MM's are gonna run this to the ground. Settlement or any major share change is many months away. June will pass and we will see no changes. MM's will see to it.
JMO
well there's no doubt she's give wamu the 4B back. There's no reason JPM should be holding on to that. I think the key is the FDIC. They will be the trigger in the wamu stock. I consider the variables and negatives of this stock. My prediction is that once the 4B is given it will definitely bring on new retail investors but I doubt it sky rockets, still many debts and creditors to consider.
Wamu has a strong case and if the holding company can break out of BK without hurting the commons, only then will you see a good run.
IMO
GO WAMU
are we serious? we still have hope for this?
come on people, we have been taken, I shrug and moved on. I kept my measly position with this so it can remind me of the mistake of buying into something without doing proper DD
GLTA...but in reality kiss your invest goodbye!
of course.
shorts are covering and retail is taking profits.... no news here.
Those of us who are LONG. Stay strong, this will be a roller coaster in the next few weeks. HOLD< HOLD< HOLD.
GO WAMU LONG!
Again. Wamu is sitting in a good position today and a negative decision today could set them back, but that doesn't mean they don't have alternative sources. Wamu will come out of BK that's gonna boost this stock a bit. Accountability for holding 4B is huge, interest and possible accumulation of debt because of that liquidity asset is a good argument. I am banking more on the slow chipping away and getting into a strong position to strike hard at JPM and FDIC.
Money is power and Wamu is not well looked at in the public opinion. Coming out of Bk will cause a strong move in position and steady stable stock.
Keep in mind the turtle always beats the hare.
IMO
well true only because the retail people will panic and sell. I really doubt this will go wamu's way... not because they don't deserve just because that's the nature of things. It will get delayed or even if wamu is granted authority it doesn't mean victory. The battle legally will last months or even years. People are dreaming if they think this will settle before july.
IMO
I personally want them to go to court. This will really put a stronghold on JPM and utimately thats what we want.
nice. That is a good post thanks marytano.
based on? awww just a feeling.... yeah stock don't work that way.
This green we see is some shorts covering their positions and forced to buy at a loss. Normal trend, we will probably close .125 or so. Even if wamu is granted motion this won't jump. It takes a lot more than news to move a stock, unless talks of a settlement is released and even then the stock would get halted.
IMO
doesn't mean he's buying more.... it clearly states buy, sell, trade and transfer.... how does that translate to buying?
here, here.... let's hope that happens. Long LIVE WAMU. I hope the shorts end up with a huge gap to fill.
GO WAMU
people aren't buying they borrowing (shorts) they will sell at every down turn. (technically buy lower than the borrow) thus giving them a gain. It's done all day long here.
this is what is unbelievable to me, which is why I think Wamu has a case. The simple with holding of property and the damage it has caused, not to mention liability has to be held accountable.
I think the discovery motion granted or not doesn't demean the case any.
JMO
GLTA
although we can't break .11 I am confident this week. GO WAMU
that's my point. If I were wamu and could somehow legally cancel shares, why wouldn't I. Screw the shareholders TPG and all . I am no longer in the banking business. I'll just go to a tropical island and live out the rest of my days.
TPG can write off their loss (believe me they can), if they haven't already, the chinese can go f..k themselves and goodluck.
Now obviously I don't want this to happen. But why are we making wamu to be the victim that will reward all of those who lost.
Again, I am in this stock for the variable that we come out on top, but I am realistic to the fact that GREED is among all of us.
Seriously ask yourself, if were in wamu's shoes; would you bail out shareholders and or payout new shareholders that bought that stock at next to nothing only to make them rich?
I say Hell NO!
Lets push for a payday, but know that it's still anybody's guess on the outcome.
To the FDIC and JPM:
Here's us shareholders giving wamu lawyers a pep talk!
actually, those are very well thought out numbers and can wishfully agree to them.
I am certain wamu will emerge, I just hope we shareholders are included in that victory.
In wamu we trust (for now)
LOL
I am off to the daily grind, GLTA
and to best quote the movie "Cinderella man" when paul Giamatti says: "get in thee and bury em'" I love that scene. that's what i say to wamu lawyers
agreed! GO WAMU fight the good fight. IN for the LONG
GO WAMU>>>>>>GO WAMU>>>>>>GO WAMU>>>>>>GO WAMU>>>>>>GO WAMU>>>>>>GO WAMU>>>>>>GO WAMU>>>>>>GO WAMU>>>>>>GO WAMU>>>>>>GO WAMU>>>>>>GO WAMU>>>>>>GO WAMU>>>>>>GO WAMU>>>>>>GO WAMU>>>>>>GO WAMU>>>>>>GO WAMU>>>>>>GO WAMU>>>>>>GO WAMU>>>>>>GO WAMU>>>>>>GO WAMU>>>>>>GO WAMU>>>>>>
wouldn't say it's hot...but the possibilities are endless, both positive and negative for shareholders.
I am betting on Wamu!
Didn't we run the indians out 100's of years ago?
LOL
again, I am in here for those same reasons, but we cannot throw out a possibility of share cancellation. I know it's not a standard BK, and I realize the amount invested by TPG/Chinese.
Would you know any different if TPG?chnese were compensated (under the table)?
Wamu wants to keep every penny, you think they won't look for a reason to cancel shares and give new shares to TPG/Chinese.
I am not saying t his can happen but lest not kid ourselves, we live an a greedy world.
I am sure they are looking for ways to payout the least amount of people as possible, especially since they will no longer have a business. They could start all over but that's the purpose of a BK, a fresh start. ask Donald he has done it 7 times and I can assure you it was to his benefit.
I am all for wamu and I am in it in hopes we get some sweet change, however i am realistic and have pulled out my profits every time i can. It's now a free ride for me and if I lose, I lose nothing. GO WAMU and I hope you are right Dave.
don't know if this had been posted. Go wamu
HOUSTON, May 12 /PRNewswire/ -- Washington Mutual Shareholders (Stock Symbols: WAMUQ, WAHUQ, WAMPQ, WAMKQ) are experiencing renewed optimism due to recent events involving WMI's Chapter 11 bankruptcy case. The Chapter 11 filing followed the unprecedented seizure and "fire sale" of its banking unit by the FDIC. Through collaborative efforts online, shareholders have uncovered a significant amount of information regarding the seizure of the well-capitalized Washington Mutual Bank (found at www.WaMuStory.com). They recently joined together to author this site and share their research findings amongst themselves and the public. The website has a plethora of documents, including links to official government documents regarding WaMu issues, pre and post seizure.
Related Quotes
Symbol Price Change
WAMUQ.PK 0.11 -0.00
Chart for WASHINGTON MUTUAL
{"s" : "wamuq.pk","k" : "c10,l10,p20,t10","o" : "","j" : ""}
Shareholders have long seen problems with the way this "secret" auction (which was not very secret) was handled by the FDIC, and are pleased that an investigation has been requested through the Bankruptcy Court. Elliott Greenleaf and Quinn Emanuel Urquhart Oliver and Hedges, the attorneys appointed through lead Chapter 11 legal counsel Weil Gotshal & Manges LLP, filed a motion in the bankruptcy court recently asking for a complete investigation of the circumstances surrounding the seizure and sale of WaMu Bank and all activities leading to the destruction of this 119 year old Seattle based institution. This motion was based on another lawsuit filed in Texas which questioned the circumstances of the bank seizure and accused JPMorgan of corruption, breach of confidentiality and other improper activities. Shareholders have long considered the seizure circumstances to be suspect and have written thousands of letters to legislators asking for a complete investigation. Their pleas to Congress seem to have been ignored to date.
At the time of seizure, Washington Mutual had $307 Billion in assets and was sold to JPMorgan for a mere 1.88 Billion dollars within hours by the FDIC. At the time of seizure, Washington Mutual Inc had 4 Billion dollars in a cash account, which has been recently laid claim to by JP Morgan.
In comparison, IndyMac, with only $32 Billion in assets was sold for $13.9 Billion in the following weeks. Indymac had only 33 branch offices as compared to Washington Mutual's 2,239 branches and 4,932 branded ATMs.
As a result of this seemingly unfair compensation for WMI assets, WMI attorneys Weil, Gotshal & Manges LLP have also filed suit against the FDIC seeking proper compensation for the reasonable value of the assets seized by the OTS, and sold by the FDIC in the "fire sale." That matter is currently pending in a separate Federal court action.
Washington Mutual Shareholders feel that it is self evident that the sale of WaMu Bank was extremely flawed, and they are expecting the U.S. Federal Court system to right these wrongs. They see these recent court filings as a big step in the right direction
well, I assume that's the case and I have my suspicions on why this stock hasn't had the effect the P's and K's had. Damn shorts!
I hope you're right because as crooked as JPM/FDIC have shown to be ...anything can happen.
yeah, i got it, i need my coffee i'm on the west coast. LOL
I still have my formally wamu, chase accounts. If wamuq pays off the way we want I will deposit into chase only to move it to bank of america and when they ask me why they're losing my business< i will simply refer them to the wamu story. In the end end they won;t give a s..t but still a victory in my book.
Ok I will give you that, I haven't researched the details of that deal. Just being devil's advocate.
Go wamu
versus paying out Billions to the shareholders? If the math works to cancel shares they will legally find a way to get out of benefitting stock holders, do you think wamu cares about common stock if it keeps them positive after shares cancel. Sorry to say but they're human, and humans are greedy. Why do you think we're all here?
GLTA
Banco santander is not in BK. I am all with you on the value but the point is Wamu would have been in trouble at some point. (not when the FDIC gave it away) Wamu was having capitalization problems and like any company that needs capital it's is always purchased undervalued. That's the nature of business.
I'm all for the PPS but not realistic, in a settlement. If Wamu takes this all the way to court then we can count on high numbers if Wamu wins.
IMO
Go wamu
P.S. they can always cancel shares, and or many other scenarios, remember this is sttill a pinkie stock. Buy in and HOLD.
stock doesn't move with news, shorts control the volume. Unless it really gets out to the big players this stock won't jump.
In my 9 month experience with this stock. Dates, news and motions came and went and yes, we had a huge increase but news like this is still speculation, it helps but you won't see a huge jump.
IMO