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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!
The IRS withholds 28% with a W9, so if you wish to have that money transferred into your Roth, you'd have to file for that 28% when you file your taxes. They get to hold your money and make interest for a while till its returned.
I would assume that's how it would work. Let's get the money first! Then talk to your CPA.
Why escrow checks make more sense.
Could this all be by design? If the brokerages were to handle escrow payments it gets pretty complicated. Since W9s are involved, the IRS gets 28% off the top, which gets complicated with brokerage accounts when large sums are involved. Plus some investors may not want that money with a broker and would rather have checks sent so they can deal with them how they wish.
So there could be a reason this was done. Don't panic quite yet. There could be a method to this madness. Something is up. COOP goes thru the roof on big volume on a down market day....plus they board $50B at the same time....where the hell did that money come from?! $50B???
Give it some time peeps. Could get very interesting soon.
The bop board seems quite optimistic.
Dmdmd has been very active there. Many seem confident of over $100B coming. When is the question. I say a small amount will come first, like an interest payment. They need to verify all the accounts before the big bucks can be released.
Good luck to escrows. Pray, and think ABUNDANCE. Very important we all do that. Incorporate ABUNDANCE into your daily life just by dwelling on that word. Say it out loud. It will come into your life, trust me. It's how the universe works.
It may sound stupid but it does work. Many use this technique. Even Oprah. And now she owns half of Maui !!!
Yes AZ, plenty to go around.
The amounts are staggering. My concern has always been, the corruption we are dealing with. Its is pervasive throughout the government, FDIC, FED, banking, etc. Dimon is very well connected.
I must say I am hopeful but not optimistic. Let's hope for the best.
The 75 25 controversary. BP and bop are pro 75.
They all think over there that it will be 75 25 to the end or the Ps (who held all the cards) wouldve never allowed commons into the equation. Never.
Now having said that, I believe both arguments may be right. The Ps will get 75 for some parts like the DCR, while other money will go to the commons, with Ps being converted into commons. That's something everyone can live with I think.
So if Ps get 2.5x and commons get around 4.80 everyone will do well. Then the commons get the lion's share after that initial salvo. Of course those who hold mostly commons will argue they get it all! LOL
Now, I believe there would have to be a small disbursement first to check the accounts and systems before the big money comes, if it does. Maybe it will all start with an interest payment. Many of the 8500 retailers are likely dead and gone now so many of those accounts are not valid.
Time will tell how this all plays out. We live in a very corrupt world so I certainly wouldnt take out a car loan or mortgage quite yet!
A small fee? How small?
I'm ready to buy. Sign em over.
Wow! You mean Bonderman Savitz and Tepper were all wrong in allowing commons into the ball game and buying Ps?
Geez, how do those guys survive making decisions like that! Maybe they can apply for welfare now. They were stupid....shouldve all bought commons instead. LOL
xoom, yes that is correct.
Bops source has thrown out some wild numbers, and while I hope it is true, I tend to think more conservatively.
My guess is 2.5 - 3 par initially, paid in cash. More down the road. Also stock in COOP and or JPM. I believe there to be a strong possibility that JPM will buy it all so they can own the assets and COOP. This will cost them a bundle but they have 500B in cash waiting to be spent. Gee, wonder what that 500B is for. :)
When is the question. Could be sooner than people think.
JPM will keep them? LOLOLOL
Just like that huh? Where do these people come from?!
Many on BP say this first salvo is 75 25. Soon.
We shall see about that. Ron is likely correct in saying the retained earnings is still 75 25. BP agrees.
So if 25B comes back 75 25, Ps would get $2500 and Qs about $4.62.
I have no idea how bops source comes up with 600B and 3M per P up to 10 yrs out...if they are right, wow. If we're still alive then.
Well, some are starting to see the light!
And listen, don't discount the takeover of the whole shebang by JPM either. Something is happening. Soon.
Thanks boarddork. And if Biden's letter is not BS, then they too are looking into this which could help nudge it along and get that money flowing back into the economy. Biden needs this to happen, desperately now. Note that the letter was sent to Biden in October, so they didn't respond for 2 1/2 months, which leads me to think they did look into this before responding. If it was BS, why would they waste their time responding? Just toss it in the trash! Hmmm....
Sent on official White House letterhead:
December 30, 2021
Thank you for taking the time to write and share your story with President Biden. He is honored by the opportunity to serve you and the American people.
White House staff reviewed your correspondence and forwarded it to the appropriate Federal agency for further action. For additional information about the Federal government in the meantime, please visit www.USA.gov or call 1-800-FED-INFO.
Sincerely,
The White House
Bop's source: $600B, $3M per P.
Could take 10 yrs for those amounts. But, 2.5 par soon according to source.
Believe what you will. $25B now will make most people happy....if retained earnings are ~25B and 75 25 as they think. Maybe dmdmd was right all along.
How do you think he's not?
Tens and maybe hundreds of billions being pumped back into the economy is not a BFD?
Come on man! Geesh. How do these people make it day to day? LOL
Looks like Biden wants this money in the economy.
His letter was quite clear cut. They are looking into this. 5-10 years? No way. They need these billions in the economy now.
Why else would they respond like that?
Read my past posts to see the content.
10 years if we're lucky.
Let's hope Biden's letter wasn't BS. Otherwise we will mostly be too old to enjoy the money. It will pay for....well....depends.
We live in a very corrupt country now folks. Face the facts.
wwhatthe Jiminy Christmas is outstanding and very knowledgeable.
Wish he would check in. Been awhile.
AZ, friends can agree to disagree.
I just think Wally hasn't been fair and reasonable, not by a long shot. Many of us are getting old, have gotten sick, or even passed. 13 years to resolve this is ridiculous and I blame her since she is in charge. Very disappointing investment. Our court system is a travesty....very political, and the cronies are taken care of.
Let's hope Biden's letter gets some action. He needs money to be pumped into this rapidly declining economy.
Walrath screwed the shareholders, so why would I thank her?
Zero to the shareholders from the 4B, the 30B (found), and everything else. How much do you have in your bond and escrow accounts? Ha. Nothing. Thought so.
Sure, let's thank her.
Go COOP Go! Geesh.
Sad change of heart.
And Walrath is the LAST person I'd be thanking!
I think you may be overthinking this redisnieurt.
I doubt that they bother to think of it that way. I really believe they know what's behind the curtain, and don't want to lose their Ps.
While bop may not be a high powered lawyer, she is a lawyer. And lawyers know not to mess with lawyers, or trust them, especially in a bk case.
They had a purpose to be there.
But no one pays them unless someone sends them!
Come on man!
If there's nothing left, why did UWs send lawyers to bops case?
Can anyone here respond to that? Nobody would send a bevvy of high paid lawyers to a meaningless hearing. Come on man!!
The UWs know full well what's coming or they wouldn't waste their time. So many clues. People like elijuez and Walrath can say nothing is coming back in the guise of referring to the LT coffers. But we know that the money is coming from different sources.
What Walrath should have said was "nothing is likely coming back to the escrow holders from the LT. She should have qualified her statement. The fact that she did not shows she was in Holder's camp all along.....he appointed her!
I am not saying the letter forced her out. (Although it could have.)
I am saying that the timing is very suspect. I don't know the particulars. But, the white house held my letter for 2 1/2 months.....needed time for investigation? Maybe their letter was their way of telling me things would be happening, and they knew I'd be intrigued by her resignation at the same time. Just a clue.
She was the only republican. So now they have a fall guy....the big bad republican held up payment these last 3 years. And look, this is not some penny anty amount of money that they wouldn't want to bother considering. We are talking many billions, maybe hundreds of billions. Sorry but that is significant.
Many ways to look at this. Then again it may mean nothing.
About the president's letter....hmmmmm.
Listen up......I sent that WAMU escrow letter to Biden in early Oct.
Never heard back, until Dec 30.....one day before the chair of the FDIC resigned.
And, in the letter it said "White House staff reviewed your correspondence and forwarded it to the appropriate Federal agency for further action."
Does anyone find it interesting that they waited all that time to get back to me, and then when they do, the next day she resigns? Scapegoat? Fall guy? Coincidence?
I find the timing intriguing.
Split T. Hedgies have no doubt already analyzed the hell out of this. They know precisely what is coming back, and maybe even WHEN.
That's why I am confident of a payout. These guys are not stupid and they don't make decisions with billions blindly.....and if they got screwed why aren't they suing? Crickets. No lawsuits. Zero! From 140 hedge funds.
We will get paid IMO. Only they may know, the when.