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Unless there is a deep pocketed entity controlling the MMs.
JPM has manipulated the precious metals market for decades with derivatives. I am quite sure that manipulating a company's share price which has a small float to begin with would be no problem for them.
Hell yes our federal government is corrupt. That's why, while I respect individuals in the military, I loathe the way Washington and Wall street use our military. The US military is the muscle that supports the current corrupt world financial system. I would never give my approval to my children to join the military and be used by the politicians and bankers for their corrupt purposes.
Color me extremely disillusioned with this country after the Iraq fiasco and the corruption in our financial system we all witnessed in 2008.
So essentially the UWs understand any substantial recovery will be realized after the bankruptcy is closed. Why else would the UWs be spending money on attorney fees to defend a claim that is supposedly worthless?
Either they are stupid or they understand the value in a Class 19 claim. Occam's razor would suggest the latter.
When you couch the action in those terms why in the world would the UWs agree to such a thing?
Why? It seems silly to suggest the UWs were willing to take less money AND less of a guarantee that they would even get the lesser amount. It's nonsensical to suggest they weren't trying to get the best deal for themselves.
Well said. There will always be sociopathic opportunists that prey on the misery of others. A lot of them call themselves attorneys.
I agree. And I'll just say what everybody has been thinking. Jay, the COOP BoDs and the WMIH LT trustees need their collective asses kicked.
Who are you trying to convince....must be yourself.
This walk down of share price is obviously manipulated. The volume has been low. The available float is small. This has been accomplished by the MMs churning shares through cooperative short selling and covering.
I actually think COOP management facilitated this by instituting the reverse split. The goal is to drive as many retail shareholders out of the stock as possible.
Foreign holdings of US Treasuries decreases for the 9th straight month.So it appears that the Fed or theur member banks are engaged in a proactive attempt to prop up US treasuries. QE never really ended and it will probably never end.
Article documenting thus can be found on the Drudge Report.
They are churning the he** out of that 14%.There must be a reason why.
Why isn't this stock trading north of $30 a share?
I hope that's what it means. Isn't it interesting that the progressive judges all support the government's ability to act unconstitutionally by hiding behind beaurocratic, legalistic rules that thwart recourse against government overreach.
Because that is where the syndicate wants the price. It seems COOP management has little problem with it.
Without the MtM adjustments it was above expectations. The MtM issue will not recur going forward. The BTIG analyst put a target of $21 on the share price. IMO I think it hit $30 within a year unless the economy melts down.
Why does it matter to you if Ron and Az are wrong? We can't do anything with the escrows anyway.
Your constant efforts to lower expectations are more suggestive of an agenda than their overly-optimistic projections.
Why yes, yes they are. They do not want any price appreciation until they have have 95+% of shares in non-retail hands.
You never did answer the questions in my original post. Tell us why you think a company with a PE ratio around 1 will declare bankruptcy. The wild conspiracy theories you are spouting do not count as a legitimate reason.
What does this post have to do with COOP entering bankruptcy?
Walrath's actions and statements in court yesterday confirmed to me that she has never had a good grasp of the intricacies of this complicated bankruptcy case. I don't know if it is because of willful ignorance, laziness or just a lack of courage to do the right thing on her part.
That will be an interesting hearing in front of Walrath. "Tell me why you are already back in my courtroom?"
Talk about a litigation nightmare. The lawsuits would be flying fast and furious.
And please explain how a company with a PE ratio of 1 or less is justified in declaring bankruptcy. I'll stay on the line while you answer.
There are 2 points in response to your post:
As you pointed out, if there are no assets remaning why has Ko
osturos' firm been charging the LT millions of dollars to manage an empty account? That seems a little excessive even for attorneys.
2. If there are no assets in Class 19 Why didn't the UWs fight to be placed in 18 or higher. Even a few crumbs in recovery would be better than zero.
Rosen isn't even trying to cover up or hide his dishonesty. Does/will the judge care?
I agree and pretty much said the same thing in the 2 posts that were deleted. I have no idea why pointing out the arrogance of the LT, underwriters and Rosen in their attempt to deflect attention away from getting caught with their hands in the cookie jar warrants a deletion.
Must have touched a nerve in the LT's board monitors.
I am sure this post will be deleted, too.
Bingo! If the underwriters are really buying the manure Rosen is selling They should welcome having their claims returned to class 18. In fact they should insist upon it.
Exactly! Why would Rosen's law firm and the LT want to piss off the heavy financial hitters in the underwriters group by assigning them a worthless claim. It doesn't pass the smell test.
Rosen's whiney, butt hurt response and the underwriter's joinder seem to be at odds with each other regarding Rosen's claim that there are no assets for class 19. I think the past 7 years has been an organized delaying campaign by the DiP and their new allies at KKR to skirt Judge Walrath's intent in including equity(especially retail) in the 7th PoR.
Yes I do think it will deter them. They are incorporated in Delaware and I don't think Walrath will look too kindly on an obvious attempt to defraud investors again.
Only if they want a massive class action lawsuit filed against the current CEO and BoDs.
It appears the underwriters could have requested Kosturos and the LT board place their claims in whatever level of the waterfall they wanted yet they agreed or requested to have their claims placed in Class 19? Why? I am willing to listen to any theories.
If commons have the bulk of assets returning why didn't the underwriters ask for their claims to be placed in Class 22 with the appropriate escrows?
Because only the super rich get any benefit from tax cuts?
Tax revenues have increased every year since 2008 but they can't keep up with spending. And who is going to get hurt the most when the country defaults on its unsustainable debt?
BTW, I never touch wine. I much prefer Guinness and Jameson.
Yeah, it's the tax cuts that are causing our debt problems and not the massive entitlement spending. LoL.
Walrath has never done that to a pro-se filer/objector.
I support her filing because the underwriters response to it will give us an indication as to what they think their class 19 claim was worth.
D. $10 billion was a figure thrown out by Walrath when addressing the EC attorneys in court. I don't think she picked that figure out of thin air .
OK. Explain how he is wrong.
Things should be much clearer between now and March 7th when COOP announces their quarterly earnings.
It is a travesty. It is an indictment of our political and judicial systems and it is just one example of why the citizens of this country grow ever more cynical of the political and financial elite in this country. It makes one understand how the excesses of the French Revolution could have occurred. Perhaps Trump is just the forerunner of our own Robespierre.
Which section/pages reference the MARTA claims?
Can you post a link to the 10K you are referencing?