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Escrow money should be considered a settlement and tax free. I think you could put forth a good argument with the IRS about that money being a settlement....
The lawyers are starting to circle overhead and they know it. They need to make their move soon. Escrows must be dealt with. So sayeth Tepper and the boys....who are also tired of this stall tactic. Enough is enough.
When WAMU turned down Dimons offer of 8 bucks a share, he said, OK. Then I'll just have my buddys rig it so I pay zero per share! Plus I'll find another $30B and rub their noses in it. Ha!
True! Doubt Dimon makes it to the pearly gates....
Dimon won't be so happy because God will ask him why he fraudulently weasled thousands out of their jobs and savings.
Dimon may not have a conscience now, but he will pay the price, someday....
Wow AZ that is great news on your COOP shares.
Sadly I and many here did not buy much so we have not enjoyed such amazing success. I am happy for you.
It's been a rough 13 yrs for us all. I think in part due to the stress of this risky investment, many have gotten sick, divorced, died, and lost a lot. I just hope that we see some restitution soon. I am hopeful but not very confident. Our country is mired in corruption and it appears those who hold our assets are just riding this out so they can keep it all. But they are all getting old now too so maybe it will all start to come to the surface soon. I dont think Dimon wants to go to his grave knowing he has screwed over thousands of innocent people.
We can only hope he sees the light...
Steadfast AZ, bop, sunshine, dmdmd, et.al are still all very confident.
Sunshine has had some very well designed posts online that may be something worth considering.
And if we dont get escrow money at least those guys are helping to keep our sanity with hope.
Is there justice anymore in this country?
Quote from: sunshine on Today at 12:37:20 PM
So why PIPE?
As we now all know it is a PRIVATE OFFERING made to a specific group of "accredited" investors, like private equity funds, financial institutions and I include DST, the WMI Liquidating Trust, as well.
And why COOP?
- Came from the same family tree - WMI, INC.
- COOP has the "goods" to exchange for WaMu's monetized assets, specifically 9.4 millions shares of preferred equities that can be subdivided into various flavors to fit the needs.
- The transaction is MUTUALLY beneficial in the following:
(1) We, the beneficiaries to the WaMu monetized assets GET to receive our FINAL DISTRIBUTION in the most tax efficient manner (I.e. Cash & In-kind Distribution which ALLOWS us the TIME & PACE to dispose of our "in-kind" distribution part for tax management and need purpose).
(2) COOP then GET a CAPTIVE opportunity to raise a "HUGE" amount of capital ( be it $ 10 B or $ 600 B , really doesn't matter).
My point: We have been "PATIENT" ( not by choice of course) up to now and I don't see it to DRAG on too much longer. Remember, the LONGER it takes, the BIGGER the $Recovery
Very nice nranger and agree.
All the docs and filings in the world arent going to dump millions into our accounts. Lets be honest.
We need a miracle. Sick of the BS predictions. The banks fdic gov and judges are corrupt. Period.
Is it August 1st yet?
Nranger. I have sought legal advice and they said I should save my money.
Of course they couldnt possibly know 13 yrs of details like we do. And paying them to do all that research would cost a fortune, with still no definitive money coming back.
Go to church and pray a lot. We need a miracle.
I got a similar letter from Dimons office.
"Mr. Boris Spider(bspider@gmail.com)
From the Desk Of:
Mr. Jamie Dimon
JP Morgan Chase Bank New York
270 Park Ave. New York City
Attn:-
We wanted to inform you that COOP is the tell and you will be receiving $60,000 for each of your P escrows.
Please contact our private wealth client office asap.
Thank you.
So you wonder where the money went huh?
https://brandnewtube.com/v/6las4Y
If bop is right, $60k per P would allow many of us to buy a small town.
I am hopeful but those numbers just aren't the real world these days. Corruption rules.
Sad. I just dont see how they can get away with not paying escrows. There will be money coming, but I doubt I will be buying a town.
Just make our shares tradeable and most would be quite happy.
Ps would be tough to value since last value was $1300.
Qs could be 1 to 1 Coop, etc.
Yep, just make them tradeable. Anything over that is icing.
Has eljuez post been posted here?
Sorry if I missed it here. ? / ~
Looks like this is his attempt to put a nail in the coffin. COOP is the tell. It may be all we have left if you believe him. ? , & Sadly, many did not have funds to buy COOP when 5 bucks. So it is not "the tell", for them. ? ] _
Quote from: eljuez today:
Ditto. Maybe it's time for everyone to just get over Pastor Jim "Alice" Jones' People's Temple hallucinations and acknowledge reality, however nasty it is? Or maybe just go ahead and keeping drinking Bop's Kool Aid? Like it or not, we all got screwed, fair or not, but there are no more assets and you can't just put Humpty Dumpty back together again. Ever. I tried as best I could. That's the truth. . . So ya'll go on believing in fairy dust. That's your right, but I say, without personal rancor to those who have demeaned me: Grow up!
Temocat. I cannot do PMs here.
But the answer to your question is unfortunately, no. I hope I am wrong. Remember that Walrath said at the BK closure that it was highly unlikely escrow holders would ever get paid anything? I don't believe she just meant from the LT....as some argue. I believe she sold us out.
We were up against ridiculous corruption by the courts, the lawyers, the government, the banks, the hedgies, FDIC, and on and on. Welcome to our new 3rd world country.
Now, is there a chance we could see escrow money? Of course. Keep the faith, but don't hold your breath. And don't quit your dayjob.
I appreciate all the hard work done by so many here. It's been a tough 13 years to say the least.
Their tactic worked. Delay delay delay and they will all go away.
And the banksters laugh all the way to the bank.
May Walrath Dimon and Bair rot in hell for what they did.
Dimon gave Holder a $77mm salary job.
Pretty good money huh? Unbelievable corruption and they all got away with it.
Dimon: "Thanks for the great deal on WAMU, Eric. Here's a nice "compliance" job for you in return."
http://corporate-history.blogspot.com/2014/09/eric-holder-takes-77-million-job-with.html?m=1
She did the bidding of Holder.
Obviously. She was put into that position to cement the deal for Dimon. Holder subsequently got a huge paying job with JPM.
Well now, isn't that special!
Walrath knew about the unexpected 30B bonus Dimon "found" and she did nothing about it.
What does that tell you about her involvement/level of corruption? Not to mention the 4B deposit from the holding company that she also allowed to be swallowed up.
She should go down as the worst judge in the history of financial cases. How does she look in the mirror?
Jhd, nobody knows.
And if they say they know, their state must've legalized cannabis.
I think legal power will soon come down like a sledgehammer on a cockroach.
And don't think for a minute that the hedgies are going down without a fight.
My biggest fear from day one has been the corruption of our government, related agencies, and the banksters. We are up against a lot folks.
Pray. Think abundance. Don't hold your breath or quit your dayjob.
But above all, keep the faith.
For those who believe that JPM got a 100 yr old established bank in its entirety, plus all the WMI assets,for a billion dollars:
I HAVE SOME SWAMP LAND IN FLORIDA FOR SALE.
Also, don't forget the retained earnings we will get, which is now close to 30b.
Please dont buy into the hype. We are fine IMO.
By the way, the JPM DB FDIC FED DOJ cabal are a bunch of thugs.
goodie, thanks for the PM.
I do not pay for a script so cannot reply however I may get one since I receive PMs.
I feel good about our chances for recovery, trust me. But like the Ringo song, It dont come easy.
I am willing to wait for July, but much after that I think I might have to let the dogs out.
Thank you continuity...but.
I'd rather go it alone or it gets too complicated. If we get the kind of money we are entitled to I will have no problem paying the fee.
I have to go dark on that endeavor.
Not going it alone.
I feel it is for everybody. I do not want the class action ambulance chasers to pounce. Then we get a couple pennies and they get the rest. Been there done that.
I have plenty of escrows and will gladly give 40% of it for representation.
Regarding lawyer inquiries.
It's been requested that I not discuss this online or elsewhere.
Rest assured I will not put us in delay jeopardy. We will wait till the time is ripe.
Lets see what the next couple months bring. I still have confidence in escrow payments, but my patience is wearing thin after almost 13 years.
Intuitive.
PM your email and I will contact you about your request.
I am a realist.
I think we will get paid, but I realize we are up against grave corruption and the odds are tough.
Whats bizarre about that? Does a realistic approach bother you? Also I do not think $10,000 per P will happen as someone said. But par plus is possible. And I dont think money will be released without someone stepping up to help kick some ass. Distribution will not come from the goodness of their hearts. We will likely have to fight for it. Got it?
Give me your next date.....
Ding ding ding. We have a new date.
Aug 1. Come on man! Such a relief to get another new date. I always look forward to those.
Look, I do believe we have a decent shot at escrow payment. Relax and it will come when we least expect it, with no fanfare.
No offense to the prognosticators but these constant new dates are killin me!
Hang in there folks.
LP. I agree, but people in the know sounded quite definitive about this. It was disconcerting to hear from a company officer. I do believe he was telling the truth. Whether those in the know were correct remains to be seen, but so far they were right.
PP...I spoke with Delgado myself.
This is what he told me word for word right after the merger.
"I spoke with people in the know about the wamu escrow shares, and unfortunately they confirmed the escrows will not be receiving any payment in the future."
I suspected foul play when COOP's Delgado said escrows would get nothing. He said that right after the merger. Seemed a bit strange that he would know that kind of information about the bk.
Who knows. Rotting carp.
What assets have A&M been managing and getting paid millions for?
How did those assets disappear? Where are they?
Yep. I smell rotting carp.
I love a good cup of coffee. Just like she does. Easy money.
I use Jackie Childs for my lawyer. Same one Kramer used...
As long as Starbucks spills in my lap I dont care how it happens.
$$$$$$$
She likely has 3000 Ps.
She had to calculate an amount somehow so she requested face on her Ps.
Real high roller huh? Wow, a whole 3000! LOL
Small time ambulance chaser.
Ooops sorry, gotta run off to Starbucks now.
Poor organization was part of the coverup.
If they got caught they would just plead that it was a chaotic event and they did the best they could.
Brilliant move. Slimy but brilliant.
She worked for JPM. Resume proof.
Then as soon as that employment was revealed, JPM was quickly deleted from said resume. Busted!
My opinion is she has connections there and delayed this, not at their request, but to gain favor so she might be offered a lucrative job there when this was all over....like Holder did.
Makes sense to me.
goodie, we can only hope.
I have thought all along the hedgies were our best ally for that reason. But sadly they have been MIA.....for 13 long years my friend. 13.
Hell, they can put a man on the moon though, so shirley there is hope for us. And stop calling me shirley.
AG should have asked the court and Rosen on the record, do you know anything about the missing assets. Put that on the record.
She failed miserably.
Short leash and short time!
It was set up to create panic and manipulate thousands to not meet the deadline for submission. Many got screwed royally by the minimal response allowance they gave us to get the releases turned around in time.
The whole thing is a complete travesty, start to finish. And still, no one is championing our escrow cause and helping us with this mess. I'm still waiting for a response on this one.....can anyone name one? No reply at all.....there's no reply at all.
But oh no.....we don't need a high powered lawyer. That would be nasty of us since everything is now falling into place! LOL
Signed,
Ben Dover