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Miniscule yes. But Libor won't be. And then the waterfall can begin.
We are fine.
Boarddork, I get all that.
I just dont see the P issue not being addressed in any COOP distribution since WMIH owns/is COOP. IMO
We shall see as this unfolds. If it unfolds.
Xoom, you think P owners will allow Coop to utilize assets without Ps getting paid? Aint gonna happen.
Maybe they could issue new Ps but that looks unlikely.
This is far more complex. Its not a simple calculation to the benefit of commons.
Nothing in this case is certain, but this is undoubtedly the closest we have come to seeing an escrow payout. In fact, several.
My concern is the corruption of the courts, banks, government, and Fdic. We are up against grave corruption.
Having said that proceed with caution until funds appear in your account. I'm not holding my breath. But I do like our chances at this time. I have particular confidence in Judge Buckwald that she will do the right thing.
Coattails
AZ wow, multitudinous posts today!
Did Alice buy you a tall cappuccino this morning?
LOL
But seriously with shares, Libor, and more coming yikes. Happy days on the way.
Libor disbursement of funds starting. Ours could be next.
40210 4/20/2024 MOTION for Disbursement of Funds AFTER DETERMINATION OF REASONABLE FEES DUE, IF ANY. Document filed by David Klusendorf. Return Date set for 5/6/2024 at 11:59 PM.
Split t. It may be that 2.5b comes to COOP from Libor if the Wamu estate gets 100b.
So Fdic sues for 400b. Settles for 200b. Wamu gets 100b. COOP gets its 2.5% and issues those shares without affecting SP.
Hmmmmm.
AZ. Celebrate today with a vette ride. Say hi to Alice Cooper for me.
We are very close to big news brutha.
Theres plenty in the news now to take any attention off the mega settlement to come. Perfect timing. Plus the protection order will keep the whole thing quiet. If this happens the way it looks, there will be virtually no announcement of settlement. Dimon will like that.
We will just wake up to extra funds in our accounts.
Libor update.
So we know the Fdic has requested and been granted case protection. That means getting updates and settlement info will be difficult.
I think the judge granted the request due to the enormity of the case. It will be the largest in Fdic history. Why? Wamu, that's why.
I have a feeling as do others that we may see something happening any day now or the first half of May.
The secretive nature of protection makes me worry a bit, but its certainly understandable why the Fdic requested it.
Will the settlement be 400b? Doubtful.
But 100-200b is possible considering the banks made trillions.
Then the judge decides how the Fdic must divide the settlement. My guess is Wamu gets 50%.
AIMO
Wow boarddork great synopsis. We are close to knowing all the answers. Once Libor is done it willbe a huge pandoras box opening.
As hold2 says, could be days. Not weeks.
Libor is happening. Just released:
401804/17/2024PROTECTIVE ORDER AND STIPULATION.regarding procedures to be followed that shall govern the handling of confidential material. So Ordered. (Signed by Judge Naomi Reice Buchwald on 4/17/2024)
We are getting close. The judge has a fiduciary duty to follow the proper disbursement of settlement funds.
Hold2wm now thinks settlement is days not weeks away.
I agree but we dont know for sure. A friday afternoon news dump would be prudent. Bury it in the news.
What the new Fdic order of protection tells us.
This Libor order was approved by the judge. So it means 2 things.
A settlement is underway.
The Fdic does not want the terms public.
This may be good or bad.
Will we ever know the amount of the settlement?
How will we know that the Fdic is going to be fair with its distributions?
Lets hope the judge makes those determinations.
We know the Fdic is corrupt so how do we know they will divide the settlement appropriately?
We only have to be right once.
Its a corrupt world so nothings certain anymore. But all things are lining up now.
So ask yourself this.....do you feel lucky? Did you release?
LOL. So the FDIC keeps 400b???
Where do you people come up with this nonsense?!
Libor is on deck.
Yes Ron, this could be us. This is the first I've seen the FDICR mentioned in these recent filings.
Let's see what the coming days bring. We are close to something. I don't see this getting dismissed.
Will Libor be a summary judgment? Maybe.
There is a difference between a verdict and a summary judgment. A summary judgment is a decision made based on statements and evidence without going to trial. It's a final decision by a judge designed to resolve a lawsuit before trial.
So if a settlement cannot be agreed to Judge Naomi can make her own decision, which is very likely. Fdic wants 400b. Hoping the judge makes it at least 200b.
Suzuk. If Dimon does monitor this board:
Jamie boy. You have one last chance to right this wrong before you meet your maker. I suggest you consider restitution before you get to the pearly gates. Otherwise you arent going to like the eternal results of your deed. Your choice.
Xoom, the 10 day move up means only one thing.
A settlement was offered. Sounds like it was turned down but who knows. They always start with a low ball and the Fdic pobly said no way. All part of the game.
I agree and disagree with Alice.
No way does the Libor take up to a year. But I do agree that a settlement offer has likely already been made, albeit small and thusly declined.
She is making an educated guess but nobody knows the amount or timing.
I am more in the hold2wm camp. He thinks our Libor deal is only days or weeks away. I think we are very close as well.
My guess is by June. 50-100B
Lettuce pray.
Hi David. I got your note.
Nothing is certain until we see it in our accts.
I think we are closer to escrow payments now than we've ever been.
The first shoe to drop is in Judge Buckwald chambers. Let's hope she sees the grave injustice of our case and the corruption that has wiped us out these 16 yrs. Many of us have since died , gotten sick or divorced, filed for bk, etc. 40,000 Wamu employees lost their jobs and life savings.
So yes, the Fdic sued for 400b.
We shall see what the settlement is because no way will this go on to trial. Let's hope God guides the judge and all involved into a just resolution.
This next week could be big for us. But who knows in this crazy world!
Bang. Those who give shall reap the benefits. Those with greed will pay a price for that.
If we get the kind of money I think we will there will be plenty to go around. Help our vets, disabled, animal rescues,
elderly. So much need out there.
We can still have nice things and a good home. Yep. There will be plenty to go around. Visualize. Think abundance.
87b over 16 yrs is 100b.
So many avenues for payment once Libor settles.
Help those in need....you dont need a diamond rolex.
And dont forget the animals.
Collectively we can affect great change when we have money.
Good karma.
xoom, and hold2wm said very soon as well. There were several docs posted this weekend re Libor. So I'd say we are very close, maybe this week. Wonder when the due date will be for payment. If the judge finds in our favor which is most likely, I say she gives them till June 1 to complete payments. So, the brokers will offer us loans for those who need money sooner.
I may be totally wrong.
But I doubt it.
LP. Thats why Dimon mentioned that 30b he "found".
He was preparing the shareholders that he'd be returning that, plus interest. And much more.
Look people, dont think for a second that the hedge funds arent on top of this. And Dimon knows that. We Will get paid. Getting closer by the day.
Could this be our Libor week?
Lots of items cleared up in court last week. Our case is last on the docket. Judge saved the best for last. Will it be 10b 100b or 400b? That is the question.
Mega settlement under cover of war in the news. Nobody will care about our settlement as the war will dominate the news.
Lets hope this is not the end of the world...
Several Libor cleanup settlements underway giving a green light to the final mega settlement.
Sure why don't you knock on your son's school teacher's home door. Or the local sheriff's home door. Or your bank manager's home door.
Come on man. Leave people alone in their home. It's stalking. STOP please. I understand your anxiety about getting paid but bothering people in their private life just ain't cool. Relax. Ask your doctor for some valium.
Viking. This is different because the largest plaintiff of this 400b Fdic case is Wamu. 70% of Wamu investors who got killed by Libor were hedge funds. No way do the hedge funds give up on getting payment. So fnf will get their due as well. How much we dont know yet.
Its all unfolding now so we should know soon.
The judge in charge is 80 yrs old. I doubt she wants to retire with a legacy of failure. I doubt shes intimidated by Jpm at this point in her career. I think she will do the right thing and find in favor of the people. I sure hope so anyway.
Libor settlement may be happening now.....settlement conference with remaining defendants in chambers.
Thanks to Ron for the doc info
LETTER MOTION for Conference Regarding Preliminary Approval of Exchange-Based Plaintiffs' Settlement with Remaining Defendants addressed to Judge Naomi Reice Buchwald from David E. Kovel and Christopher Lovell dated April 9, 2024. Document filed by 303030 Trading LLC, 303030 Trading, LLC, Atlantic Trading USA, LLC, FTC Futures Fund PCC Ltd, FTC Futures Fund SICAV, Gary Francis, Gary Francis, Nathaniel Haynes, Metzler Investment GmbH. Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-02613-NRB.
Declaration of Vincent Briganti and Christopher Lovell
Order Preliminarily Approving Proposed Settlement with JPMorgan Chase & Co., JPMorgan Chase Bank, N.A., Citigroup Inc., and Citibank, N.A., Scheduling Hearing for Final Approval Thereof, and Approving the Proposed Form and Program of Notice to the Class
Declaration of David E. Kovel in Support of Exchanged-Based Plaintiffs’ Motion to Authorize Distribution of the Bank of America, Barclays Bank PLC, Citi, Deutsche Bank, HSBC Bank PLC, JPMorgan, and Société Générale Net Settlement Funds and for Reimbursement of Claims Administration Expenses
Since June 2021, amongst other activities, Mr. Kovel obtained the then-largest publicly announced single whistleblower award arising under the Dodd-Frank and IRS whistleblower programs, and successfully reversed a lower court ruling that dismissed a large number of foreign banks from In re Libor-Based Financial Instruments Antitrust Litigation, the high-profile litigation related to the banks’ alleged fixing of the LIBOR benchmark rate, which is now proceeding against certain non-settling defendants.
It appears LIBOR settlement is imminent. I expect news soon on how this will impact Fannie and Freddie but I will say this. I think the share price right now is a total bargain. I think we will see 4 bucks very soon.
GLTA
Well if this isnt our case shirley we are getting close.
And stop calling me shirley!
Libor settlement may be happening now.....settlement conference with remaining defendants in chambers.
LETTER MOTION for Conference Regarding Preliminary Approval of Exchange-Based Plaintiffs' Settlement with Remaining Defendants addressed to Judge Naomi Reice Buchwald from David E. Kovel and Christopher Lovell dated April 9, 2024. Document filed by 303030 Trading LLC, 303030 Trading, LLC, Atlantic Trading USA, LLC, FTC Futures Fund PCC Ltd, FTC Futures Fund SICAV, Gary Francis, Gary Francis, Nathaniel Haynes, Metzler Investment GmbH. Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-02613-NRB.
Libor settlement may be happening now.....settlement conference with remaining defendants in chambers. Pray folks.
Thanks Ron.
LETTER MOTION for Conference Regarding Preliminary Approval of Exchange-Based Plaintiffs' Settlement with Remaining Defendants addressed to Judge Naomi Reice Buchwald from David E. Kovel and Christopher Lovell dated April 9, 2024. Document filed by 303030 Trading LLC, 303030 Trading, LLC, Atlantic Trading USA, LLC, FTC Futures Fund PCC Ltd, FTC Futures Fund SICAV, Gary Francis, Gary Francis, Nathaniel Haynes, Metzler Investment GmbH. Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-02613-NRB.