Washington Mutual Mortgage Reinsurance, Inc. - stock holders won in this major bankruptcy case.
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F'n good news, and finally.
I can use it now but I'm holding tough for the coming months.
I want money and justice. That's the satisfaction I'm looking for here.
Do not call a plumber! lol lmao
It's a flood, get your floats, boots, and paddles!
FYI, as of today, my money here has tripled in value.
Mike,
1. Good bet that WMI wins large law suits!
2. Institutional investors are long.
3. Go where the action is and keep an eye on your investment.
Other than that, read.
http://www.law.cornell.edu/ucc/4/4-202.html Some info from Universal Commercial Code and banking.
The UCC forms the basis of much our written law. It was established on "common law" assembled over centuries.
http://en.wikipedia.org/wiki/Uniform_Commercial_Code
http://www.wisegeek.com/what-is-the-uniform-commercial-code-ucc.htm
Investors who have been in WAMUQ for months have been given a rare opportunity on this board to discuss and learn about business law and investing-related rules and regs. The safety of our money is established by judicial precedents and knowledgeable contributions by people like Mordicai and Bopfan, as well as many others.
Excellent post, and good reporting too. The time has come. Keep on getting the word out, emails and things. Tell your friends, "there's gold in them there hills", meaning, WAMUQ, WAMKQ, WAMPQ
Yep, and then ridiculed by their client! lol
Wait a minute. The share price is eventually dictated by the number of outstanding shares divided by the company's net worth, or earnings, or profits; depending on things. WMI Must pay off debts and liabilities since they are in BK.
Any stock swap or cash payment in a settlement is going to reflect value much higher than $1, imho.
We don't know what the WMI market cap is but many think it is a number reflecting much higher than $1 per share. Damages from the suits in court now point to a number higher than $1.
"For example, if Cory's Tequila Corporation (CTC) was trading at $20 per share and had a million shares outstanding, then the market capitalization would be $20 million ($20 x 1 million shares). It's that simple." http://www.investopedia.com/articles/basics/03/031703.asp
I had to use that quote because it mentioned Tequila and I'm in the mood today! Go WAMU.
Hi, If there is no news on Lehman then this move up might be created by MMs to shake WAMUQ longs out and over here! lol
Bair may loose her job to make this look good for all involved, since it isn't likely that the Treasury is going to be able to fire Dimon, but they will take Bair out to settle the score with the citizens, i.e. you and me.
imho
News? News? News? You're talking about "news" ? You're talking about "news"?
It's all about facts folks, and the news knows nothing about the facts. f'em and wait and see the price on the commons tomorrow.
Thanks for your posts today Diamond!
It might be as simple as someone at WMI tried to withdraw some or all of the money but their request was denied. I don't know.
Probably not. It's hard, if not impossible, for someone like me to understand that amount. I have lived below the "poverty level" for decades!
However, things are changing now.
Imagination is limited to some type of experience, therefore, with no experience of billions I don't know what 4 billion means in this context. I can imagine it provides a balance sheet that makes the value of my stock much higher once it hits WMI's balance sheet again.
When it leaves JPM it weakens theirs.
In my opinion, withholding this 4 billion from it's owner, WMI, directly reflects on Mr. Dimon.
For what it's worth, this article, though not mentioning WMB or WMI or JPM, it states that the moves being made by this administration are game-changing. For investors, this is something to consider for years to come.
(US NEWSWIRE) Reform Groups Strongly Praise President Obama's Government Integr
ity Reform Measures During First Hundred Days
Reform Groups Strongly Praise President Obama's Government Integrity Reform Meas
ures During First Hundred Days
To: NATIONAL EDITORS
Contact: Kristen Hagan of Democracy 21, +1-202-429-2008
WASHINGTON, April 28 /PRNewswire-USNewswire/ -- In a statement released
today, reform groups strongly praised President Obama "for the unprecedented
steps he has taken during the first hundred days of his Administration to
strengthen ethics, lobbying and transparency rules for the Executive Branch."
Enclosed below is the full statement issued by the reform groups.
Statement Issued by Common Cause, Democracy 21, League of Women Voters,
Public Citizen and U.S. PIRG
Our organizations strongly praise President Obama for the unprecedented
steps he has taken during the first hundred days of his Administration to
strengthen ethics, lobbying and transparency rules for the Executive Branch.
Equally important, we believe, is the larger effort by President Obama
embodied in these initial actions to challenge the way business is done in
Washington and the special interest, lobbying culture that influences
government decisions at the expense of the American people.
We recognize that this is a long term battle and that the toughest fight to
change the way Washington works still lies ahead -- the need to address the
role of influence money in Washington by repairing the existing presidential
public financing system and creating a new congressional public financing
system.
Nevertheless, we believe the President has demonstrated in his first hundred
days through words and deeds that he is serious about changing the rules of
the game in Washington and increasing the voice of citizens in the governing
process.
Our organizations believe President Obama deserves great credit and
recognition for the groundbreaking government integrity reforms he has put in
place during the first hundred days of his Administration. We look forward to
working with President Obama on future government integrity reform efforts
and, most importantly, on the essential battle to fundamentally reform the
nation's campaign finance laws.
The Ethics Executive Order issued by the President at the outset of his
Administration contains precedent-setting revolving door provisions. These
provisions are designed to prevent potential conflicts of interest for
incoming government officials involving their former employers or clients,
and to prevent improper trading on government service for personal gain by
outgoing government officials.
The Executive Order contains the first-ever "reverse revolving door"
provisions for incoming presidential appointees, which are designed to
prevent new appointees from importing the interests of their former employers
and clients when they enter government and to help assure citizens that the
public interest will come first. The Executive Order requires all appointees
to recuse themselves from matters that significantly affect the interests of
anyone who was a former employer or client of the incoming official within
the two years prior to joining the Administration.
In addition, former lobbyists who actively lobbied a specific agency or
department during the previous two years are generally precluded from
receiving a presidential appointment to that agency or department for the
following two years, unless a waiver from the restriction is determined to be
justified.
The revolving door provisions also prohibit departed presidential appointees
from coming back to lobby any senior executive branch official in the
Administration for the full length of the Obama presidency. These are the
toughest revolving door provisions ever established.
The Executive Order further prohibits all presidential appointees from
accepting any gifts from lobbyists or lobbying organizations, other than
token gifts of de minimis value, and instructs the Office of Government
Ethics to develop a similar gift ban for all executive branch employees.
Under the Executive Order, all presidential appointees are required to sign
a binding "ethics pledge" to abide by the revolving door restrictions,
recusal arrangements and gift ban, and the Office of Government Ethics is
required to report on the effectiveness of the Executive Order and how it
might be modified to enhance its purpose.
The Obama Administration also has taken unprecedented transparency steps
during its first 100 days.
In a pilot project adopted for the economic stimulus package, the
Administration for the first time requires registered lobbyists working to
influence Executive Branch decisions on specific grants and contracts to
submit their lobbying requests in writing. This information is then posted by
the Administration on the Internet and made available to the public. Each
agency is also required to post on their web sites lobbying contacts by
registered lobbyists with the agency on all other general issues related to
the stimulus package.
The pilot project for the stimulus package opens the door to establishing a
government-wide policy for public disclosure of all lobbying contacts by
registered lobbyists with Executive Branch officials. This would greatly
expand existing lobbying disclosure requirements.
The Administration also has made an important change regarding the Freedom
of Information Act (FOIA) by ordering agencies and departments to adopt a
presumption of disclosure for information requested under FOIA. This should
make it far easier for citizens and the media to obtain information under
FOIA.
The Administration has undertaken numerous other efforts to provide the
public with access to Executive Branch information, including making
financial disclosure reports by White House officials available to the public
by immediate electronic access for the first time, providing information on
how stimulus package funds are being spent on the Internet and placing
various White House events and documents on the White House website.
In a reversal of an Executive Order adopted by President Bush, the
Administration also restored the practice of having only a sitting President,
and not past Presidents, able to restrict citizen and media access to
presidential records by claiming executive privilege over these records.
President Obama also ordered a group of federal agencies, including the
Office of Management and Budget, to develop recommendations for a new Open
Government Directive to be issued by the President.
All of these steps add up to unprecedented action taken by President Obama
on groundbreaking government integrity measures that begin to rebalance the
interests in Washington of the American people with the influence in
Washington of special interests.
SOURCE Democracy 21
-0-
*** end of story ***
Exactly. There is no way JPM is going to run this show much longer. WSJ is wasting ink with that comment, or the reporter is digging for brownie points with JPM management.
Exactly. And the lawyers have known this for months. The squabbling that JPM lawyers are doing continues a long tradition of pin headed, bullying that is going to loose big this time.
And, JPM wins because they do get the bank branches and they gain huge market share on the back of a 100-plus year-old banking institution from the NW.
Only consolation for me is that I am going to make some money.
Oh well...
I bought yesterday, and all I could for now. I'm green. Yeah.
At this point, especially with the most recent bills posted by Jackson, (THANK YOU JACKSON!) it's a forgone conclusion that WMI is going get some major damages and the stocks are going to get relief and the prices will rise. RISE AGAIN! RISE! I say RISE !
I'm sure these people are bickering. That is what they do and they do it well, they do it so well they get paid to bicker.
very cool.
The quality of your opinion is seen in your presentation, poor to very poor.
Readers on this board see who can spell, write complete sentences, and make sense. You may be wasting your time here unless you are here to get a laugh or two.
Now, is that "too", to, or two or tou Petrit, which is it? Maybe it's tew. Dang.
I agree. She said, "take a deep breath and dump the legacy assets"; paraphrased. She is saying she wants tax payers, i.e. commons, relieved and let the balance sheets return to a normal state. She is eager to see the cases settled. She is not speaking fighting words, though she doesn't like banks that are too large. The FDIC really should be larger, in some respects, than the banks to protect the consumers, imho.
My guess is that some jobs are on the line among MMs. That's just my opinion. They are all vying for hero status after receiving marching orders months ago from someone on the JPM side of the deal. Again, imho.
She said they have enough money now and she alluded to the fact that she is confident that the raise to 500B is coming. She also said that, if they have to tap into the 500B The President is involved in the decision.
That's what I heard so far, oh, and that "too big to fail" is not something she buys into and that she is out to protect the tax payer. I think she can actually threaten JPM with her position on "too big to fail".
Yep, it is.
My life training, including a 3 day intensive at the Landmark Education Forum; (look it up on the net), has taught me to view whole systems but distinguish between parts.
Distinguishing between politicians, who are obviously compromised by achieving their goals through compromise, are easily distinguished from, for example, private hedge fund managers in their 50's or 60's. The more one knows the more one is responsible for knowing.
And, they are all part of the leadership of this country. Being a "crony" is not a bad thing, but being "in the know" about ways to fleece the middle class methodically and actually doing it is.
So, I agree with you, anyone who knew how, when, and by whom the middle class erosion was being planned and executed should be tracked down, penned it, slowly starved and then smoke out of their dens!
I know where my dad lives and he seems to have had a hand in this, though I don't give him credit for helping... he was just doing his job!
The leaders of the industrial revolution and the military leaders who colluded to create a huge private military industrial complex are a big part of the problem. They/ us were warned by Eisenhower.
But finally, in 07 and 08, it was the hedge fund managers from their advantageous overview, unregulated, that pulled the strings or did the hanging. They may have prepared the great fleecing by paying off or providing income for many of the politicians that should have stepped in to stop the naked shorting. I don't know. Someone does though.
imho This is all off topic except for the fact that JPM has always played a big role in the banking system and employees are easily swayed by their pay checks. It's a whole system issue; materialism shared by most Americans, unfortunately.
WAMU was involved in creating bad paper too and may have involved themselves in naked shorting of other banks.
So, it's all about the principles, not the principals.
New regulations preserving value and dictating that naked shorting is stopped will help.
Privately run hedge funds run by 50 and 60 something yr old guys were able to coordinate the pillage more so than politicians, though the smarter ones knew coordinated shorting would do it.
Roger that. Over and out for the night. Thanks for the good times.
I have to reply to your post simply to have my comment on record for all time in agreement. I don't like giving too much credit to the criminals, as though knew what they were doing. It was just that the "trickle down" idea was always known to be b.s.
I'm from money in the midwest. People with money don't spread it around! Give me a break!
They create very short paths from one account to the other account.
It's time to build up from the bottom again. Workers need teeth, and they should weigh less than their car, and should know basic algebra and how to type!
WE have lots of work to do to create a real economy now.
Just for the record fixdops,I'm going to put you on the spot.
I'm fine with your hypothesis. It is as sound as any and very informed... I mean how many months does a guy have to be around to qualify to form an respectable opinion? But, hey, I am trying to be generally accurate and 100% correct as a matter of discipline.
Therefore, you did not know what was going to happen. So put down your hand! lol
No one did. Knowing is the idea of having no doubt because certainty is unquestionable on the matter. That requires a crystal ball.
Also, "almost", used in your 4th sentence means you are uncertain.
I have to get some rest. I'm saying that people should be frank and honest with themselves so they don't think you, me, or anyone else actually does, in fact, know the future.
The preponderance of evidence is pointing to a profitable settlement for those in the stocks now. Other than that I'm simply theorizing like you. And, we are actually having a good time this Sunday. Probably because we are all so cock sure of making some money in the next few weeks! lol
I know I'm feeling it. lol
I'm going to hold off on my reply to that post. I'll support you on that when I see your plan! Let's talk about that over lunch in Vegas after a few days of partying.
I sold some shares in another couple companies late Friday, so yeah.
This is the stuff I'm thinking we are going to be hearing whole lot more about in the coming weeks; government leadership stepping in to "rectify" the situation.
Whether you believe in it or not, someone has to do something decisive. It's what government does, when it's needed.
Private business executives don't want to be politicians.
Yes. There are several articles out this Sunday actually calling for Obama to step in take more leadership action, not less. People want out of the woods. Everyone doesn't want to sit around and let the wheels of justice grind slowly.
Hey, here's something off topic that's kind of cool: spider web material made by humans: http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&newsId=20090424005591&newsLang=en
I'm going to buy more tomorrow or Tuesday, actually.
Let's just see what happens. I sense there is an impasse between Dimon and WMI ownership about who is going to get the better of one another. I think egos are going to come into play here and someone is going to have to step in and take responsibility for the final outcome. Dimon doesn't really want to have the last word because no matter what he does he is going to get criticized from one side or the other. Also, WMI lawyers are not going to take just any deal offered. So, to take the heat off Dimon and to push for the best deal, I think there may be some tough days ahead full of uncertainty.
For example, last week... who the heck knew without a doubt that the reorg was going to be rescheduled. No one on this board. And going forward, no one really knows 100% what is going to happen or when it is going to happen, except that something very good for WAMU stock holders, but I think that there will be final curtain call of egos on this, like what is happening with Ken Lewis and Paulson and Bernenke now. all my opinion, so there's wtf.
Doesn't WMI ownership have to sign off on all this?
I mean, there are real people behind these numbers.
I don't know any of the WMI ownership personally but when it comes down to settling with JPM they are not going to go easy on JPM.
The offer to settle has to be truly stellar. The FDIC may actually pay off WMI first and then their war chest is even larger.
Other than that, the stock buying maneuvers sound likely but I'm still learning about all that.