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What has A&M been managing all these years? Anyone?
Ha. No assets huh? LOL
Can anyone tell me what assets A&M has been managing?
Anyone ? Been getting paid millions all these years to manage what? There are no assets, right? LOLOL
No. They were observers. The LT was the actual defendant.
Anyone? Why did the UWs go to bops hearing?
Can anyone answer this simple question?
Ray, why did the UWs go to bops hearing?
Nuff said.
Im a glass half full guy but in this context it seems clear to me what they meant. They know their WAMU investors and the forums are very down and don't expect anything. Well, a few of us do.
Time will tell, but the time is running short before the lawyers come into play.
"Contrary to expectations" means they know people feel the markers now are worthless and they won't get anything. This is not a negative. Get it?
Another post from German board.
So they regard these escrows as valuable even though the LT removed them from your account and their responsibility.
The responsible custodian has classified your shares in the above-mentioned company as valuable. Therefore, on the instructions of the custodian, you should book your securities as valuable, but if, contrary to expectations, payments or claims should arise for your securities in the future, you will receive these in full after notification from the custodian, and they were not lost to you when you were booked out.
We regret not being able to offer you an opportunity to act on this transaction, but we have no influence on this obligatory derecognition.
Your advisor is available to answer any further questions you may have about your assets.
Unicredit Bank AG
Yes Large Green, something is in the works.
The German bank knows something is coming.
Let's release the DCR. That will give us 25B or so. We can be patient with the rest, though I think it will be a waterfall once it starts.
This is the projected payout:
2.5 - 3 par in cash. About 5.00 for Qs. (from retained earnings 75 25. ron has been right about this)
New Ps and Ks will be issued and will be tradable. Commons will be converted to COOP commons.
Other buckets will come in such as interest, etc.
AIMHO.
Now, when? I say very soon. We are talking days weeks or months. It will happen IMO. The big boys are not raising hell and suing, so they know what is to come. Tepper is going to load up on high priced free agents, cash rich. Carolina will become a force in the NFL. Happy for the great people of that region.
I will clone my dog (50K). I might clone my wife too. Maybe. N Korea is cloning people.
Everyone is entitled to their opinion. This is mine.
The LT has NOTHING to do with us and escrows.
Don't you ever read anything?
We Americans are always skeptics.
Look, let's see what happens. If this is a leak of info we should see money this week or next. If it is caca then we won't. I don't see this guy as a scammer. I checked the posts on the German board and translated them. They seem legit.
Ron, if this post is accurate it is the first real indication of money flow.
We've been duped before but this post does sound official. A leak perhaps. Germans are more forthcoming than sneaky corrupt Americans.
The hedgies are ready to pounce so payment better come soon or the lawyers will.
Why no attention to this post from Germany?
Are you all groggy? Wake up.
Today at noon I had a conversation with my bank. A so-called expert explained to me that the escrows are to be "rebooked". He said that a capital measure is currently taking place. This probably means that capital will flow or that a capital increase will take place. According to his statement, such a capital measure takes about 1 to 14 days. I am really happy and wanted to share the joy with you.
Well well well, an epiphany.
Ron, no way is Dimon going to get away with this by the hedgies. No way. We peons might be easily pushed around because they know we can't afford lawyers. But.....the hedgies are a different story. They are our big brothers, like it or not. We are in the same boat. We think we need them to step up now. But likely the reason they have not is because they know what the process is, and what lies ahead.
And don't think for a minute the UWs didnt know what was behind the curtain...everyone knows. Anyone with a brain anyway.
I may be wrong. But something's happening here.
Strike, I agree this has been an awful travesty.
But.....keep in mind who we ride on the coattails of. All is not lost. So the LT ditched our markers. BFD.
There is much much more to this saga. Rest assured. Hedgies don't lose billions lying down. I believe we will get paid, and soon. Could be wrong. But I could be right....
So if you pay off your mortgage the bank has a campfire and burns all the records, never to be found again.
Look, they have to keep records....in case....they need to be resurfaced.
You may be right, I am be crazy, but it just may be a lunatic you're looking for!
"Excluded from the transaction....and preferred stock of Washington Mutual's banks."
Look folks, believe it or don't. Ps are fine. As are commons. $300-600Bs worth. Now, I am still waiting for those who wish to sign over their historical escrows to me. No takers thus far. Hmmm.
Oh they are there. Resting peacefully, until they aren't.
Thank you for giving me your escrows.
How do you know you have the same amount of escrows as me? LOL
Please have someone from your brokerage contact me via PM here and I will arrange the transfer.
Thank you for your generosity.
They get paid 10 cents per post or reply.
LOL. It is what it is, alright.
Too bad you didn't release.
For those who think their escrows are worthless...
Since you are so sure that they are trash, you can transfer them to me. That can be arranged simply with your broker and a notary. If the money hits I will them disperse any money from your worthless escrows to designated animal rescues around the world.
The animals thank you in advance for those worthless escrows.
The markers were rightly deemed worthless because they referenced the LT, which is now done.
Next?
Correct, ron. Now, why did $500B suddenly get set aside by JPM?
And what will that be used for? That's a lot of moola. I suspect some payments will be forthcoming. Maybe shares too.
The BP folks seem confident in $600B. Might take a while, but something soon is in the works. Too many coincidences lately...
H holders' checks cashed just fine.
So now what?
Strike, remember that some bought at high prices.
You were fortunate that you made a good deal. Think of those here who paid $1300 for one P. So there are many circumstances.
If this pays out as some suspect the amounts will be stunning. People should keep the payout secret if it happens, or everyone you know will be tripping over a crack in your sidewalk.
The deleted markers were just LT placeholders.
The LT is gone. Got it? This escrow deletion means zilch to us. There are historical records at your brokers, and they will always be there. We are fine so stop panicking or you'll make yourself sick over this meaningless nonsense!
Now, I agree with this: We will get COOP shares and COOP preferreds in exchange....they are coming. And they will be tradable. We will get interest payments. And much more.
Some think $600B is in the wings. Not sure what the final tally will be. There are no lawsuits by the big boys. None! Does anyone think that is curious?
Relax folks. This is the investment of a lifetime. You are lucky, if you released.
AIMO.
White House, and Hedgie releasers list is out there. I have seen it, but not sure where since it was many years ago. I believe there were 143 total. Can't recall if it listed their holdings, but I seem to recall it did.
Ron or AZ may have the doc. I'm sure bop does.
That's one of the few reasons why I am still somewhat positive of a payout....their silence, and ability to hire high powered staff to go after this if it isn't made right.
And yes, the Biden letter may have been bunk, but why did they hold the letter for almost 3 months before they responded? And why respond at all unless it was noteworthy. My guess is they looked into it during that time to see what it was all about...so if so, that could be significant. Timing folks, timing.
Look through my last posts if you have not seen this "canned letter" from the white house, on official white house stationary I might add.
Billions injected into a struggling economy now would give Biden, and the country a good boost.
.
Ally wouldn't know. No broker would know.
If there is a distribution it will happen seamlessly and without fanfare to try to keep it under the radar. There's so much else going on in the world that I doubt this would even make the news anyway.
If we don't hear something by Apr I would expect a barrage of legal actions from the 140 hedge funds involved.
Hang on. This is going to be a crazy train...that could go off the rails...something I don't think Dimon or the FDIC want to happen.
If Dimon and FDIC get away with this heist then there is no longer law and order in this country. This was a travesty, a theft of billions. If they get away with it folks this country is doomed.
That's why I still believe the money will come to escrows. Don't worry about your markers! This is all stored in the brokers electronic vaults, which is required. They don't just go poof! Relax.
The hedgies would be suing by now trust me. Something big is about to happen. Don't get your panties in a wad.
mufa, the link is from 2020 and says no escrow payments will be made, which contradicts what he says about payment coming in days.
Something doesn't add up with this.
Mufa, this is old.
Where did this Dimon suit post come from?
Did I miss this somehow??
The fact that the hedgies have not pursued this yet legally is VERY important. That is the tell.
They must feel confident with where this is at, and they have billions at stake.
From dmdmd. This is far from over folks.
Bottom line: $Recovery coming in much sooner than Mar 11... ??...So, next 2 weeks is STILL very exciting...
Fantastic!!!!...LFG...
I too believe it would be a settlement, not a taxable stock/ordinary income/LTCG, gain. The stocks were wiped out and we were given escrows with no basis in the settlement. So I'd say it is tax free, but you know how the IRS is....they want their piece of the pie. They would be withholding 28% and it would be our job to get it back. Good luck with that, but we'll try.
1099? Interesting. I'd happily pay my taxes that are due. We'd still have plenty left to buy a few toys with.
If they have already paid the taxes, they would likely want that reimbursed somehow. 28% of the kind of money that may come is a staggering amount.
I would think the IRS would want our actual checks to get the 28% hit so taxes can be properly calculated as in any normal return. I don't know....this is a very complex and unique case to say the least.
Would be great if taxes were somehow paid, but I think either way, we would get a 28% haircut. Then we have to battle the IRS for it....personally, I believe it to be a nontaxable settlement payment. I could contend that and then end up fighting it out with them....and they'd likely win! But I'd try.
Who knows eh? Let's see some money for Christ's sake!
As for massive amounts, they likely would have a cutoff of say 1 million. If your disbursement was over the prescribed amount you likely get a certified letter to respond to for a direct wire into an account. You might even have to go to your branch and handle it with an account specialist. They obviously aren't going to send out a check in the mail for millions of dollars!