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Alice haggling over a silly UW stipulation is far from what we are talking about.
Come on man!
I was referring to Dimon et al.
And we really dont know if any back door deals were done with the hedgies. They sure have been awfully quiet and complacent considering they lost billions. Why is that? Hmmmm.
Well put, but not sure I agree about Mary.
That whole seizure and bk stunk like rotten carp. They hosed the employees and shareholders badly. And she stood by and let it happen. Even that aside, any good judge would have marched Jpm back into court when he bragged about finding that 30B "bonus", as he all but jumped up and clicked his heels. Legally that money was not part of the agreement and shouldve reverted back to the estate...escrows.
Same thing with Claster and Collyer. Nobody gives a crap about the little guy. Its all about the big money people. Right Jamie?
We signed releases but they didn't live up to their end of the agreement by not providing an equitable fair and reasonable settlement. I.e they lied, and thus voided the releases. That would be our contention.
They are the ones that will be screwed in the end if this does need to go to court. Ha. Imagine Mary, Jamie, Shiela, and Fdic on the witness stand. They'd have some splainin' to do!
We all appreciate your efforts AZ.
All the others who have put so much effort into this as well.
Lets hope we get good news one of these days.
No disrespect perceived AZ.
The majority here are escrow holders and frankly seeing the COOP price go from 5 to 35 is hurtful to many who have been unable to afford to buy shares of it because of how we have been screwed on escrows.
Such a travesty. But bk investments most often are unsuccessful, albeit painful for all of us.
I think we have been screwed and our only option may be to have a heavy hitter lawyer drag the bastards through the mud in court.
Few people on this board have COOP shares.
Most here are escrow holders who frankly couldnt give a flying F about COOP share price.
I don't mean to be cynical, but come on man!
How many dates will come and go before we realize we got kicked in the balls?
I am done with the dates. Thanks for your efforts easter bunnies, but its time for a reality check. My escrow accounts still say zero....13 years later. That's 13.
Anyone who goes against someone's prevailing theory is going to get chastised. (Geez, I almost went out and bought a new car since it looked certain that we were getting paid March 31.)
But I'm one tough old hombre and I can go toe to toe with the best of them.
Look, we are all in this together even if we have differing views and perceptions. If someone didnt care they wouldnt be here, right?
Let the chips fall where they may. Keep the faith. After years of anguish we deserve fair and reasonable more than anyone I've ever known. Ever.
The fact that she didnt tell us it was over is I guess somewhat hopeful. She said unlikely, not quite as definitive as, Your done like a dinner! But this is still not great.
I still have some faith in the hedgies pursuing this as well. They have a lot more Ps and Qs than we do!
And rumors of back channel whispers are usually just rumors. However sometimes not.
We have a few things to hang our hats on. As a high level manager in my career, I am always prepared for other eventualities and backup plans.
There are 3 types of lawyers.
A friend once told me this.....there are lightweights, middleweights, and heavyweights.
If its a serious issue, you ALWAYS want a heavyweight. That philosophy has saved me a small fortune in my life.
She couldn't be a clerk in this guy's office.
If I mentioned the name jaws here would be dropping.
Let him check into it. That will take some time. By then several more fruitless dates predicted will have passed and they will be begging for someone to raise hell.
People have gotten way too complacent...
Ok let's wait another 13 years and then maybe we'll consider legal action, if we're still on this side of the dirt.
The lawyer contacted is very busy and cant even look at another case for a while. Then when he starts to look at the highlights it takes time to file.
Relax. Not every lawyer is alice in wonderland.
You win for funniest post of the year.
"process finally is at a point where we can move forward."
LOLOLOLOLOLOL
In violent agreement. LOLOLOL
Unbelievable.
What then after July 31?
See this is my point. I'm not saying these opinions are not justified and based on facts. All I'm saying is, nothing will be done just like the hundred previous dates unless there is pressure. Who is looking out for escrows? Anyone answer that without making me LOL?
Oh yeah, lets just ask Judge Claster. He'll surely get right behind the moms and pops! LOL
Walrath was very clear escrows would get nothing. Everyone at the time said "she just meant from the LT." Yeah, right!
She knows in her heart that we got hosed. Her fair and reasonable nonsense proves she was not going to help the moms and pops one little bit. We were duped.
A good lawyer will flush this all out, her included. Trust me, he would not be the least bit intimidated by her or anyone else. She would likely soil her pants if she found out he was digging into this.
So now its Aug 1st.
Then Dec 1. Then Apr 2121.
Look, I know when it's time when the fat lady is singing her heart out. Time to get off our asses.
There are certain posters here who are heroes and have put in a huge amount of time and effort. And they disseminated their DD here for our benefit.
I applaud their valiant efforts. But the reality is nothing is happening. The tactic by the trust, jpm, and fdic is to delay and obfuscate until we are all too worn down or dead. Now they say if the escrows are deleted they can be brought back. Ha! Another obfuscation technique. They must think we are really dumb.
I have been in touch with one of the biggest lawyers in the country. He will get 40% from me. I will gladly pay that if he is successful. You will all benefit if he is.
But it is a huge undertaking for him to get up to speed on the entire case. We must hope he is willing. He will get to the bottom of this I have no doubt.
They will ride this out until it goes into oblivion.
It is starting to look obvious that the hedgies have written this off and moved on.....after all they are friends of Jamie's and maybe have been taken care of in other ways.
Our fantasies of dates and documents are not playing out as some had hoped. Sorry but we need to stop dreaming and face reality. They are bending us over.
Time to bring in the lawyers. And NOT a stupid class action!
Time to contact the lawyers folks.
We are getting buggered.
Yes, Judge Claster said not to forget about us moms and pops.
But they did. So much for him having any power.
Too much corruption. And the crooks all get away with it.
Sorry to say but our escrow chances are looking more grim by the day.
How do you know nothings coming back whenever?
Do you have insider info?
Truth is none of us know anything factual on dates. But remember that other bk companies take 9 yrs to resolve and release. We are in year 9 now.....so.....
It's not over till my ex motherinlaw sings.
So let's see how this plays out here before we accuse her. If we get paid the kind of money I think we may, I might even name my next dog Walrath in her honor.
Most people got very few shares from that first joke disbursement. But it was a good way to be sure their distribution list was accurate.
I doubt Walrath would consider that disbursement FairnReasonable since she knew all the numbers.
If there is no further disbursement she will go down as one of the most duplicitous judges in financial jurisprudence history.
Fidelity and TDA are awful now too.
On hold forever and get kids that can barely put together a couple sentences. GoDaddy, Directv and Verizon the same thing. What do they teach in school anymore???
It's very obvious that the work from home plan has failed miserably. Easier to stay at home, get stoned, have breakfast, do some laundry, run to the supermarket, get more stoned, walk the dog, cook dinner.
Look, I have heard the stories from people working from home. They say productivity and efficiency are down by over 50%.
Thanks AZ for pointing that out.
It's a simple thing, yet extremely important and telling....that the escrows are still alive and well in our accounts despite the LT going ba bye....despite many who said the escrows would vanish at this time.
Yep, quite important and also overlooked.
Rock on. Think "abundance".
The supreme court would never hear it.
Denied by the lower court. The SC would never waste their time with this nonsense after 4 denials.
She should apply for a job at Starbucks.
I have 3 words for Alice.
Get a job.
Hmmmm. Agree.
Look, why would she proceed with this charade if her back channel cronies told her big money was coming in a month or two? Who gives a flying F if the UWs get a few bucks more for their work.
She says her prediction is well above $109B. So if thats what she thinks who cares about the 1%ers?!
Something stinks here.
Two huge closing buys.
Remember this. Pros trade at the close.
So what gives. Surely this means something is afoot. And stop calling me Surely.
I would say there's been a leak about something. Like assets maybe? Who knows...
COOP may be the tell after all.
Name your next baby "AZ" if so.
She is trying for a JPM legal job obviously.
Only possible explanation. Why else do that for a lousy 25 bucks a share.
She worked for them in the past and no doubt is well connected with the lawyers there. She quickly removed JPM from her online CV when she was outed.
IMO.....
Yes wwhatthe, it was just a payment to start the process.
Those who think JPM got $299B in assets for $1.9B must be smoking something very strong. It's time they put away the pipe and face reality.
I'd like to buy a brand new Lexus for 17 dollars but the dealer would never give me the title....
Wwhatthe. You still here?
Miss your posts.
She won't get a dime.
I'm surprised the judge hasn't hit her with a frivolous lawsuit action. Maybe this time.
She will get a good job with JPM when this is all over.
She's worked for them in the past. I believe she has heard something about a job in back channels...
Hmmmmmm. Bop.
Woody, 75/25 is in the Plan and despite my grievances with the Trust the Trust has gone to lengths to assert that that is the split. I understand that AZ and others have claimed that Class 19 will receive only face plus interest and common will get the rest, but the Trust -- and the Plan -- say otherwise. Chew on this: if common isn't bought out then Bonderman -- who controls over 20% of face (in addition to common holds Ps and TPS) -- will hold over 20% of face, which is more than Tepper and Savitz combined. Tepper and the other Settlement Noteholders crafted all the plans and in every one save Plan 7 (the final one) common was cancelled. I have no reason to believe Tepper and the other hedge funds became altruistic and indifferent as to whether Bonderman would control the Reorganized Debtor and any future venture based on capital owned by WMI.
As for receiving $109B, my figures are more in line with Dmdmd1's numbers, which are above that figure. Remember, WMI stated in its SEC filings that it had approx. $135B in MBS (cumulative). The Trust claimed before the District Court that upon seizure WMI had only $72 million in MBS on hand. Where did the rest go? I think it went into a Trust and WMI became the beneficial -- not legal -- owner. I suspect former senior management and David Bonderman would know about this.
I fully expect the FDIC's WMB waterfall to be paid in full.
I have received information from multiple sources indicating a recovery in excess of $109B and I find those sources credible.
I am not doubtful of the outcome. What I don't know is timing. I've heard rumors from credible sources about timing and scale and I believe the information. I can't go beyond that.
The UWs knew all along what was behind the green curtain. Why else would they have sent a bevy of lawyers to her hearing?
This is all too obvious.
The book timing is very interesting hmmmmm?
I appreciate all the dd and insights from so many here. Thank you, Wamu escrow warriors.
We are down to the nitty gritty now. Will justice prevail? I think something good will happen very soon.
Vegas, anyone?
Never too late to buy COOP.
It appears this could hit 50 in the next month, especially on escrow news as recipients get paid and plunk money on COOP shares.
Wonder when they will split it...
I agree 10B would be a major disappointment.
But suck it up buttercup. Its a different world these days.
I feel we are justifiably entitled to hundreds of billions. Its in the docs. But will justice prevail? Doubtful.
10B would be welcomed by most just to be able to get money and move on with life. Ps at par and 2 plus change for Qs would make most happy.