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Don't count your chickens before they hatch! I noticed several large cancellations on the L2. I'm talking blocks in the millions just cancelled at various times as if they knew something. Why would buyers of many millions just up and cancel all of a sudden after making the play for the shares?
Some of the buyers were even offering the high ask. I don't get it. Did some of the bigger players just discover something and cancel or what? Odd action today.
Any ideas?
Sierra Leone News JUST In!:
UN Secretary General Ban ki-Moon 11 January 2010
He warned that the "deteriorating" situation in Guinea could jeopardize the fragile peace processes underway in the nation's Mano River Basin neighbours - Côte d'Ivoire, Liberia and Sierra Leone - as well threaten the stability of the greater subregion.
http://allafrica.com/stories/201001111367.html
Guinea’s political tsunami the need for urgent action
Author: Pa John Baimba Sesay - Freetown. Sierra Leone
January 11, 2010
http://www.sierraexpressmedia.com/archives/4892
Just the facts, no opinions, draw your own conclusions about stability, risk and so on.
No violations of TOU in my post.
Destabilizing effects on Liberia and Sierra Leone? Jan. 11, 2010
"The situation Guinea could have destabilizing effects on Liberia and Sierra Leone, the two countries still licking the wounds of war."
Link below from Africa:
http://allafrica.com/stories/201001111367.html
P.S. Good news. I figured out how to use the web cell phone I got a gift last month, so now I can stay in touch anywhere at any time. Parting was such sweet sorrow, so now there's no need to part. Aren't you glad? I was already kind of missing my buds on here.
Yeah, that's right. I remember that "mining" had started in Dec. 08. What's up now? You seem to be right about the O/S shares too. I don't understand all the personal attacks anyone raising the actual facts is subject to on this board. Do you?
Well, back to the old grind tomorrow, vacation has been fun since early December. But business is business.
I'll try and stay in touch with the many friends I've made here if I can. BTW, please remember that Guinea is a neighbor of SL.
I'll try & post some good news if I can ever find any. Adios (for now).
http://www.time.com/time/world/article/0,8599,1947309,00.html?xid=rss-topstories
http://www.sfexaminer.com/world/guinean-officials-say-countrys-no-2-leader-going-to-senegal-81088987.html
You know, for the regular people's sake, I hope you're right. I really do. I don't like the banksters any more than you do. However, there's some points about our wonderful US legal system that can be twisted against those in the right.
For example, You posted "Mr Dimon 'Do you think it is contracturaly fair to the American People that Bank CEO's and Representatives serve on any Federal Reserve Board?'" His lawyer will probably shout OBJECTION, calls for speculation or OBJECTION, assumes facts not in evidence, or OBJECTION, he's taking the fifth. Now, to get around the fifth he'll need to be granted immunity. When he gets immunity, his lawyer will probably tell him to spill his guts since he'll NEVER see a day behind bars for any crime admitted to while under grant of immunity. Duh. That's if he even committed a crime in the first place, which I am not saying or implying in any way.
Next, you said "Mr Dimon In the days leading up to the seizure and sale of WAMU, did you know that the Federal Reserve was planning on working with Congress to draft TARP and if so sir, could this be the reason why the Bank was seized on a Thursday prior to the announcement of TARP the next week?" His lawyer might advise him to answer (A) not at all -take the fifth OR (B) Gee..I don't recall OR (C) OBJECTION, calls for speculation. A good lawyer will also ask for the question to be broken into at least two parts since it is ambiguous in its present form.
Then, you said "Mr Dimon. Is it true that yourself and the associates of your bank worked in tandem to bring down the value of WAMU thorugh its stock price after the firm rebuffed your offer in March and opted for a "private equity" investment injection from TPG Capital?" His lawyer might advise him to answer (A) not at all -take the fifth OR (B) Gee..I don't recall OR (C) OBJECTION, calls for speculation. A good lawyer will also ask for the question to be broken into at least two parts since it is ambiguous in its present form. Also, the guy can't really speak for all of his associates since they're not connected at the hip, are they?
AND on it goes just like that. I wonder if you and some of the other self-described "Big Dogs" and "Masters of DD" had imagined anything like that scenario playing out? I know I have. My DD goes beyond what I know to be the "right thing that should be done" to what actually may end getting done given our pretty corrupt system here in the land of the free. Wake up.
OMG. I can't believe anyone still likes that awful song. Do you get drunk and sing on a karaoke? Man, talk about torture. Gitmo would be a breeze compared to that type of thing.
L-e-t m-e s-l-o-w i-t d-o-w-n f-o-r y-o-u...
Soyburger actually said "Here's a fact: Lawyers usually don't want their "clients" discussing delicate case matters in a public forum. Gee, I wonder why that is?"
Soyburger was answering another poster and using a quote from the other poster as reference.
Soyburger did NOT say "Soyburger said
" BTW, you said "It is a theory of our attorney's that JPM, FDIC, OTS, Treasury, Fed Reserve and various others colluded to drive the price of the stock of WM down to a level where JPM could either purchase the company "on the cheap" or better yet, Purchase it as a "distressed asset" from the FDIC. It is slowly being proven a "FACT" by a preponderance of the evidence (i.e. Inter-company documents and emails) that this theory could soon be proven true and would therefore be referred to by the court as FACT!"
This was a quote from the o-t-h-e-r poster. S-a-v-v-y?
"Sierra Leone and Liberia must be constantly monitoring the situation in Guinea with utmost concern as any instability in Guinea will have a direct impact in both countries."
Real news with real facts. No pump and no bash. Just the facts as requested by some folks on this board. Link is below.
Friday, January 8th, 2010
http://www.newstimeafrica.com/archives/10139
To da moon?
So, 23.5 cents is the most this might ever go according to your calculations? And that's if things go well?
You also said "I doubt Washington Mutual will actually pay the shareholders this money, it's far more likely that they will keep the excess dollars for operating their re-formed business and the common shares should remain intact and reflex the appropriate value."
Was there ever any talk of a reverse split or anything like that?
You said "we know this". For your information, not everyone reading this may know what you know or have considered what I have brought up. All I do is tell it like it is to keep it real.
Have you thought about the fact that legal proceedings are NOT a sure bet?
Have you thought about the possibility that holders of common shares are usually not well taken care of in bankruptcy proceedings or most settlements?
Have you thought about the possibility that the gov't probably has a few other surprises lurking in the future?
Have you thought about that donations are solicited for the lawyers in this case (from what I've read)?
Have you thought about the possibility that virtually anything could go wrong with the upbeat predictions?
Have you thought about the possibility that this could drag on for many years?
Have you thought about this thing going to trial?
Have you thought about the possibility that a judge could rule against Wamu and its interests in the future? What then?
Have you thought about the possibility that the adversaries would appeal any jury finding they didn't like? This would be costly and lengthy. The gov't and JPM can afford the time and money.
So, I say to you, perhaps you should step aside and take a hard IMPARTIAL look at matters as they really stand. IMO.
Yeah, you'd think so. It seems that the products just never seem to be the kind of thing that causes a big pps increase.
Actually, I have questions. There aren't a lot of good sound answers from what I'm hearing. Why is that?
Or it could be .001. We just don't know for sure, do we?
Please remember that things don't usually work out the way they should. OUR interests will take a back seat to the gov't, JPM, etc. IMO
They usually are above the law. Why would it be any different now? Madoff only got caught when he did because he opened his mouth. Things could have dragged on for years if he clammed up and played the illness card.
What's the O/S? Any profits?
That doesn't sound promising. Is there a reason for this?
Legal proceedings are VERY protracted. Also, commons are usually last in line for anything, if there ever is anything to be had. That's just a fact.
Does this thing ever get off the ground? What is the O/S?
How does this help the commons? At best, the other classes MAY benefit way down the road.
The legal cases filed I have now read pose valid probative questions that could cause more questions and troubles for the gov and JPM if there's no settlement to hush things up. Even an unlikely negative ruling could be appealed and expose even more unseemly matters. This is a stock with a Q on the end so it is not pretending anything.
I've always found that a settlement works out so much easier in the long run. Especially when non-disclosure agreements are signed and payoffs made. Everyone goes about their business and the payees have to shut up or else. The payors move on. All nice, tidy legal, and usually tax deductable for the payors of the settlement. They might even come out ahead this way in the long run.
A few billion settlement is a bargain in the overall big picture which is why I'm now monitoring this stock.
BTW, I was wondering who inca-tupac was. Some style to his bashing over there, however, his screen name here could use some work. It's too obvious. IMO.
He'll probably bash me for giving him constructive criticism, but I'm use to being attacked by other posters, so flame on.
As "lovers" they would cover each other's backs, would they not? Does that mean JPM can rely on a government helping to sweep this under the rug with a bit of bailout or allowing JPM to settle nice and quiet to save all their asses? What say you?
Even I've gotta admit that someone calling themselves WAMUQisWORTHLESS is most likely a basher and not just a skeptical investor performing DD.
I've been skeptical about various companies and to be honest, I start to wonder about what may be cooking in a stock where there are legal issues that could resolve in a big positive way that increase pps significantly. I say could, not will. However, this is the age of cover ups and perhaps JPM will prefer to sweep things under the rug by throwing some government money at this wamu problem.
The government does NOT want bad publicity at this time either.
I wonder if WAMUQisWORTHLESS might know something on the inside and is trying to drop the pps to scoop up shares?
I am watching this stock before committing substantial funds and it seems odd that WAMUQisWORTHLESS and some others just popped up prior to court dates that could prove beneficial. Maybe WAMUQisWORTHLESS will drive the pps down and tempt me to jump in? However, I think he's probably a shorter.
Remember, the US government is involved which makes this a different ballgame than a stock not directly "touched" by the govt.
What's an Equity Commission? Is it a good thing for this stock?
Why thank you for the compliment. However, I also noticed someone else posted about possible political instability looming in Sierra Leone in the near future. How will this impact the security, contracts, workers, investments, gold transport, etc? Also, remember the CC project is on LEASED land, not owned land. If you start checking more about Sierra Leone, you'll see they are in the middle of a crime wave resembling an uprising of sorts. Also, the regular people are very angry with the government since the government just imposed large taxes on things poor people need effective Jan 1. Oh yes, I also read something about armed rape gangs going around doing their thing. Just start googling and you'll be amazed at what's lurking and just waiting to erupt.
I wouldn't bet the farm on the CC hopes if all hell breaks loose their again. Just my observation from reading the latest news from Africa and elsewhere. I'm not making anything up. I'm telling the truth. If you can't handle the truth, well...
From the WSJ post-
"Drug trafficking and the instability in neighbor Guinea also threaten the fragile stability Sierra Leone has achieved. Drug cartels are being established in the region and militias are being formed across the border in Guinea, Mr. Cargill said.
Mohamed Ibn Chambas, president of the commission of the 15-member Economic Community of West African States, said, "Some countries appear to be gradually sliding back to military rule—Liberia, Sierra Leone and Guinea Bissau remain the most vulnerable."
http://online.wsj.com/article/SB10001424052748703436504574
Are you suggesting that? I am asking a question since I'm new. So far, things look ok from other posters info. I'm just curious about how the common shares will fair. The preferred looks good as do some of the gains in the common.
Not bad at all. Thanks.
Do you think it'll filter down to the commons in a big way?
OK. I got you. Thanks.
Really? So, they're going to emerge ok from the bankruptcy reorganization in your opinion?
Legal action against carbon capture company
Investors need to make sure that what is represented is actually what exists.
I also noticed the SGC had retained losses of $1,418,132.24. How does that bode for shareholders given the massive dilution?
http://www.smartcompany.com.au/legal/20100105-accc-launches-legal-action-against-carbon-capture-company.html
Is the pps going to drop more with the 2.7 million or more additional foreclosures set to occur in 2010? I don't fully get why this stock is above a buck at this point.
How much dilution has gone on? Anyone know?
What is the upside to investing in a bankrupt company? Is something positive afoot here?
The financials? You mean they aren't out yet for last summer? That's odd. The market & gold went up today, how come this stock did not?
It does sound a bit far fetched when you put it that way. Look what else I found about bubbles and such:
Seven Looming Financial Bubbles
http://www.forbes.com/2009/12/15/looming-financial-bubbles-personal-finance-bubbles.html?partner=alerts
Of course that would apply to companies with regular production updates, etc., I suppose?
Indigenous Peoples Own Carbon Credits, Group Says
If this is true, then what is stopping the gov't from nationalizing the entire venture? I think Uncle Soy had brought this point up.
Do you really think the tribes and gov't will let a foreign company make the lion's share of profits? Remember, the lands are just "leased" not owned. There is also a growing dispute about the new mining bill recently passed.
http://www1.voanews.com/english/news/environment/Indigenous-Peoples-Own-Carbon-Credits-Group-Says-79348182.html
Carbon Taxes Run into Hot H2O
Not only is the U.S. Senate leery of passing a carbon tax, but apparently the idea is also running aground in both France and the state of Minnesota. In any case, the value of carbon credits has been declining lately, especially amid disappointment over the failure to reach an agreement in Copenhagen. Meanwhile, recent reports have indicated that European taxpayers have lost over $7 billion to fraud in carbon credit trading scams in the past 18 months, according to CBC News.
http://www.webcpa.com/debits_credits/Carbon-Taxes-Run-into-Hot-H2O-52860-1.html