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.
Let's face it. This government is corrupt as is banking and Fed, FDIC, DOJ, etc.
Dimon was very well connected so he walked away with the financial heist of the century. I am a believer and think he will pay a dear price someday, as will those who facilitated this robbery. Life is short, but eternity is forever. Let's see if their souls feel any remorse when they are tormented in hell.
Not only did all the shareholders lose everything, but the employees of WAMU lost even more, their jobs, 401Ks, profit sharing. Everything! And surprisingly none of them squawk about this! None of them. Weird.
So let's see if Dimon has an epiphany. Or that we somehow do get paid. I think we have a chance, but I'm not holding my breath.
boarddork, you are right, and wrong.
Her ID was revealed to everyone when she filed her suit and discussed it on BP. That was bold of her. Many of us knew who she was before that, but respected her privacy and didn't reveal that. She did.
I do agree her antics caused delay, despite many saying it did not.
She must have a measly 3000 Ps, which is why she sued for $3M (par). 3000 Ps is NOT a high roller.
As for her source, who knows if she or they are FOS. I find $600B to be a bit unrealistic.
I listen to all opinions and theories. Let's face it, all us unicorns have been wrong thus far. But....we only have to be right once, right?
Bop. Love her or hate her, give her credit.
She is a BK attorney. She has worked for JPM. So has JPM lawyer contacts.
But most importantly, she knows that everyone knows who she is. No one else, not one, on any board, has revealed their true ID but her. She has guts, right or wrong.
I do NOT think she is making up this source. Now, whether or not the source is FOS remains to be seen.
But I respect her for sticking to her guns.
Bop: Q's go to $125. 500 Qs per P.
Let's see if she is right. She recently talked to her source again and he informed her that her opinion on $600B is accurate. She is 100% confident on her source's information.
She also is firm on 75 25 throughout.
She also says we will get coupons of around 8% or more. A coupon or coupon payment is the annual interest rate paid on a bond, expressed as a percentage of the face value and paid from issue date until maturity.
I believe there are 144 hedgies and insts who are involved. The list is out there somewhere. I think bop posted it a while back.
I have a friend from the NFL and I asked him to talk to Tepper sometime about his take on the escrows. Let's see if he asks him.
The hedgies will not sue because they know payment is coming. Obvious. Same with the UWs. They all know.
I still say the admin at the time hid the assets in secret accounts offshore.
Dimon, Holder, Obama. Holder appointed Walrath to finalize the bk. Holder went on to get a big job with JPM.
The question is, will Dimon suddenly have an epiphany, or is he willing to take the chance, keep it all, and go down in flames once caught...
Why all the redactions?
Redactions are meant to hide evidence deemed potentially damaging to the parties involved. Why wasn't that pursued? Very strange.
Not to mention the scriveners error....
Corruption at its finest.
Got LIBOR letter today.
Will go to post office later to see what it's about. Anyone else get this??? Got one from Fidelity and TDA. Hmmm.
Ps will be exchanged for new COOP prefs.
Q's exchanged for COOP shares at a prescribed ratio.
The Ps will be tradable, thus costs COOP nothing, except the Ps will pay divs.
COOP gets the assets.
My best guess. Makes sense.
The DTC and Computershare have all our info.
Does anyone really think the hedgies were going to just let billions be deleted? Cmon man!
Remember who we sit at the table with.
Don't for a minute think that the hedge funds will take peanuts. Never happen.
We are fine. You will all see soon....
This would be a great time to disburse funds and shares. The world has more pressing issues now than some shareholders being repaid.
The stars are aligned. Let's see if that is a stronger force than our government's and banks' corruption.
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?