Drinking & Toking (soon I can write Scripts, YEAH!!!!!!)
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Has WMIIC claimed any/all of capital losses. When the BK happened, WMIIC assets were sold at the bottom, presumably at significant losses.
They work by the hour.
Jamie Dimon is a criminal, No?
This one is the exception. In fact, WMIH's future is connected to the LT as litigation proceeds 'may' still flow onto WMIH's balance sheet. Therefore, both are worthy of being together.
Everything changes once FDIC provides full accounting of what transpired. Until that point, everyone's opinions are speculation. At which point, the dusk settles. Your continued provocation benefit none.
I infer from this week's ridiculously low volume, with respect to outstanding shares: Most everyone who wants in, are in.
It's a huge COI being BOD members on both sides of a merger, it's double dipping.
You are correct. The whole thing leaves me so confounded I'm now forgetting the easy stuff.
How were the Saudi's made whole with their huge Citi investment. I haven't seen this reported anywhere.
I have long considered Countrywide a raw deal for Citi, but from what you wrote it seems you would consider it 'better'?
Totally agree about WAMU's fate. WMBfsb was what, the single most financially sound bank in the entire country (or darn close to it)?
A breathable air filled Lead balloon will float in a Sulfur hexafluoride atmosphere at Standard Pressure & Temperature.
The price has settled into 2.71/2.72 down 4 or 5 cents. IOW YAWN!!!!
Many people seem to have WMIH on their radar anticipating a move one way or the other.
I feel significant optimism today WMIH will be adding a few cents, perhaps $2.63-2.64 close.
Give me new information or give me death (by death I mean, death to the same old tired, rehashed, relentless unending of nothingness)
I am sick, near to death, of rehashing the same discussion points. I have immense desire to see NEW information. It doesn't matter, in the least, whether it deals with potential returns to holders of the old company or the new company. Just make it NEW !!!!!!1!!1!!!
It seems, Mains is taking the position of a martyr, exposing a corrupt system. His case would be dismissed for lack of standing if he was not subject to what he is attempting to expose.
This is has been singled out by banking 'activist' Neil Garfield. If you don't see that, read up on Neil's background, it's his 'game'.
Good to see someone else posting similar thoughts as myself.
I think this was to stave off potential outrage. Holders of markers are wound up very tight. If there were to be a payout of 2.9 MM shares to holders of markers and see those markers simultaneously disappear, there would be calls for heads on pikes.
I also believe the distribution to be 2.9/190 MM or 1.52%. The original distribution was 25/75% of 190 MM.
Meh!? I'll take some pieces. JPM in total is a worthless house of cards.
The share price isn't being helped by those speculating jpig is going to pay for all the 'assets/Assets' taken by the heist and the BOD only 'believe'-ing there are NOLs (not presently supported by an actual IRS PLR). Which would all go away if jpig were actually paying for what was stolen and the 'believe' was merely a hedge.
Seems we're an afterthought when a perceived broad market rally is afoot.
I see, you're making it up as you go!!!
The bond debt is not $25 billion.
You made the claim, show your work!!!!
?Oversold?
Do you or anyone you know possess a cypher to translate the telegraphed message into English?
As of yet, there is no proof of a single dollar available to payoff those jr bank bonds.
Let me add a degree of malice.
What if the reason they moved up the classes were for anticipating immediate return on their money. This and the reorganized debtor, with all those NOLs.
Though this doesn't explain why they bought and held P's & TPS's. They held those until the end, why? Sure they sweetened the pot enough with the $50 million (TPS) JPM buy-off to cover their initial buy-in (of course none knew what they really paid), but not enough for anyone else to consider legitimate.
What if their maliciousness were really to whittle down the Preferred class to only their own holdings? Then just sit on free markers for a few years until the real payoff.
They might have arranged it so outsiders wouldn't settle for a possible return of $0-50 for P's. This and knowing if outsider P's wouldn't sign-on neither would those pesky Q's, except for Bonderman, who also would have known to hold.
Just throwing it out there. Many here want to speculate, so...
"Now go do... that voodoo... that YOU do... SO WELL...!" -- Hedley Lamarr (Blazing Saddles)
I've been keeping an open mind to every position, which seems within reason. Not to name names, a few people on both sides are wholly unreasonable, though in unequal proportions.
I'm leaning toward FDIC still working within their mandate. I need something definitive proving FDIC will not be doing a proper audit to close the PAA.
Correct. Those WMB bondholders should be part of JPM.
Thanks RD, that's, amazing. It seems this board is understating its importance. One just put arbitrary points into these reports. It might really be very significant.
Is that from the 10K?
Again, this has to do with the failings of the WMIH. M&A is neither here nor there, with regards to whether after two years in existence they are unable to say the existence of the RONs issued at the inception of the WMIH have any bearing on present ownership.
Further to my point this WMILT revelation, within the scope of the bankruptcy court was not only relevant to those proceeding, but all material to WMIH. Which seems to be a failure of WMIH to file, as it is clearly material with respect that these notes which have been in existence for two years, are materially relevant to this company as an ongoing concern and have yet to be addressed in any filing as of yet.
Some of these RONs have been paid so far, but the company doesn't seem to know after all of this time whether or not paying them off constitutes another change in ownership.
So what is the score. Was there a change of ownership when WMIH was created? If the existence of the RONs constitutes an ownership share, did it prevent a change of ownership, was it the cause of change of ownership? Did paying off part of the RONs create a first or second change of ownership?
It is quite disturbing to find out they apparently do not know.
So exactly how much risk are they really exposing us too? KKR apparently didn't know.
I remember these facts. Though again, this is another instance in which this does not address my initial point. Which in this case, there was no documentation set-forth, within the scope of the bankruptcy proceedings outlining actual ownership, a paper trail if you will. Ownership of assets if I am not mistaken, from a publicly trading company will have all these subsidiaries in the public record, somewhere. Though in Wamu's case, none of this documentation was filed with the court nor was there an audit of what was what.
Not wanting to be disagreeable, no argument of hidden unicorns, just pointing out no one is providing definitive information, in which a reasonable investor can make informed decisions.
Yes, I've read that. Though with Ihub's auto-advertise, some of the emphasis is lost in trans-publication.
However, it does not address my point. Which was, WMIH 'might' think there 'could' be a change in ownership with the a possible sale. This is regardless of, if there is not a sale of the RONs what the IRS thinks of the change of ownership of WMIH at the creation of WMIH.
The company files "we believe..." statements, however has not addressed this issue as to whether or not all this time the existence of these RONs has had an affect on the change of ownership since the company's inception. Which after two years, this company has been exceedingly lax in defining its main 'asset'.
I'm have trouble with this. What were all of those 363 sales if everything was under WMB?
I don't recall reading any documentation stating actual, at the time of seizure, ownership to any assets. It seems all speculation as there was never an audit.
It is certainly above my pay grade. Though I wonder what the IRS consider these RONs to be as they are now. I wonder if perhaps they are presently and have been ownership of WMIH how does that affect whether there was actually a change of ownership. This could have significant implications going forward.
Investing based upon information found on message boards at your own peril.