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Uzual, no matter how much these fools bluff they are not bluffing me. These people will do ANYTHING to keep from being tagged a CRIMINAL and that includes selling out their Mother, Father, Brother and Sister to protect their own hide. I will take it one step further, they have NO CHOICE if they want to avoid that criminal title. What Susman wants, Susman gets and that tells ne they have to forgo all of their claims, back equity into getting the G.S. denied and more. The only way we get the number we deserve is if Susman is able to take the lead.
IMHO, this Judge will do EVERYTHING in her power to keep Susman from taking charge (her actions are telling) as she wants to protect the Government Criminals at all costs. She would like to see equity get the NOL's but Rosie will have no part of that, YET! Anybody that called this POR "fair and reasonable" and basically said equity is out of the money over 85 times in her 109 page Opinion is not worthy of the Bench! Hopefully, Susman has her cornered with the crime of insider trading and if she dares approve this POR, then she can be accused of aiding and abetting the crime of bankruptcy fraud.
Seat a Jury on Wednesday at 1100am and at 1030am on Wednesday it would be settled for whatever Susman would ask and at that point (IMHO) it would be $120.00 per common share.
Joe, I agree and without any doubt we will know something tomorrow or even this evening. I will stand on saying there is NO WAY any of these Horsies can be depsosed because of one simple fact...they ARE GUILTY and a guilty person does not put their freedom in others hands who COULD tie them up for many years! The Confirmation Hearings NEVER happen without equity and may not happen period!
Ilenes, thanks millions and billions. There is NO DOUBT you are Equity's HERO!!!
Hi Knick, I do not see how it can ever make it to confirmation unless it includes equity. I think something big may happen tomorrow (8K filing tomorrow evening-equity driving?) due to the fact that there is no way any depositions will ever be taken. There is only one thing these criminals are afraid of and that is their freedom and they will trust no one when it comes to that. So maybe they have called Rosie off and will let Equity drive as they are in a hard position due to all of them being inbred with JPM. These people are NOT going to jail for JPM so either JPM/FDIC get on board to save the Hedgies or this blows wide open as the Hedgies will pull JPM/FDIC down with them. There are too many people here who have kept these multiple crimes quiet, so I suspect this could be over very soon as Susman will have to show what he is going after on May 13, 2011 and if they are not on board he will have to show insider trading, thus blowing the roof off.
SF, and that would not even inlude the 84 billion in "Unjust Enrichment", OH how I would LOVE to see this break open worldwide and this would make Watergate look like a pimple on an elephant's ass!
sf, I agree that something has been up awhile. When I attended court March 21st, I could just tell by how the players were acting that SOMETHING is up, as the actions of all of the players when they did not even contest AFTER March 21st. To me, this action was very telling! Just the coolnees and almost asleep perception of our side seemed to be and trust me, they have not been sleeping through this. I think it could be as easy as some entity offering a lot of money and Susman just has to wait his time. Once suman pins this judge with the crime of insider trading she cannot push this along anymore without becoming a criminal herself. As far as my little mind knows, aiding and abetting the crime of bankruptcy fraud is not only a crime to the players but also to the Judge. Does she REALLY want to push Susman...I HIGHLY doubt it.
SF, you make very good points and it DOES make a lot of sense, especially since it all happened about the same time, so settle all at the same time. The criminals are handling that case as well, oh to be a fly on the wall.
William, reread Susman's history of winning cases and you will undestand what I understand. This is going EXACTLY according to his larger cases he has won. I had a very bad feeling with the Examiner all along. I even prepared my wife for his sellout and she would get very mad at me when I would discuss it. I was saddened but I had the feeling he was selling us out especially when he was half way through his examination and said quote "everything is going just fine with no problems" and I knew right then that bastard was selling us out. I did not trade on it at all as I have just kept adding through all of this and I have never had a bad feeling on Susman. As critical as I can be, I still feel very good, but I have done a lot of DD on Susman's history and cases. I personally know one CEO that went up against him (lost-settled) and still says to this day (90 years old now), "that man will not quit-he will wear you down till you settle" or worse.
Thoughts on May 02?
I fully believe that if Susman has NOT been compromised (nothing tells me he has); he is following a VERY lucrative path and the only path the EC is traveling. I say this because I believe in judging on one’s actions and the recent actions of three new EC members shows this case is going exactly according to Susman’s history of winning cases. No depositions have been (and never will be) taken, the cases total quietness and many more smaller but yet telling actions show we are on the correct judicial path. I will not say when, but one can say and be exactly correct this case will end. It could go something like this and make your educated suggestion.
A. Over dramatically with a settlement.
B. Case blows wide open.
C. EC is sold out.
D. Case settled piecemeal.
E. Chambers meeting before/during the May 02, 2011 scheduled hearing some type of agreement happens.
F. The criminals could make an 8K filing suggesting that EC take control due to the above factors.
G. Plan on using current POR which will include Equity, thus ending 6/6/2011.
I strongly believe there will have to be something that takes place on May 02 as I would wager almost anything that these criminals will NEVER be deposed and yes I did say WILL NEVER be deposed. That means this could be over altogether or piecemeal with the criminals agreeing that the EC would take the case lead. This would make worldwide news and even though the criminals have been able to manipulate the media, they could NOT hold the price of WMI equities backs with any positive news involving equity. They could also keep the current POR and just add what they should have in the beginning, but anyway this happens will bring WORLDWIDE news to equity prices. I will go one step further and say this will be the single largest event that happens to a public traded company in the history of Wall Street, provided a settlement down to commons is in the cards. Patience, good luck, due diligence are still required and take care WaMuer’s as this WILL end and IMHO, we will be OK and Susman’s reputation will soar to new heights!
Attn. William48, t1215s on Y wanted me to post this for you. I think you have this but t1215s was thinking this is what you are looking for.
http://www.fticonsulting.com/
Apr 1, 2010 ... Filed by Washington Mutual, Inc.. Hearing scheduled for 6/3/2010 at 10:30 AM at US .... for Compensation Seventeenth Monthly Application of FTI Consulting, Inc. , ... to Appear pro hac vice of Justin A. Nelson of Susman Godfrey, L.L.P
THANXS -2/29/08~Ts
Royal Wedding Fri/Worldwide news diversion & timing-Interesting!
Well we all know this has to and will end one day. Speculation will continue until the very day we either get a deal or get snuffed out. I personally believe we are close to SOMETHING happening and what I mean by that does not necessarily mean a total settlement. I have always thought this would never end in a partial settlement but considering how well the criminals can control the worldwide news on the subject of WMI, well it has given them confidence that they can keep pushing out the inevitable. There probably has not been a case in recent times where the potential of 50-300 billion dollars are at stake. So, I am reasonable enough to understand that this could go down in stages, especially since the true deal makers in this mess have been caught with the crime of insider trading which will dramatically change the course that the people in charge of making the final deal will travel. The thought of EC gaining control will only happen if the criminals give up all of their ill gotten gains due to insider trading, agree to work with the EC and for the Hedgies bosses to tell JPM/FDIC, they are not going to jail for ANYBODY and they are now going to fully back the EC.
I fully believe that if Susman has NOT been compromised (nothing tells me he has), this is the only route that the EC is traveling. I say this because I believe in judging on one’s actions and the recent actions of three new EC members, this case is going exactly according to Susman’s history of winning cases, no depositions taken and none ever will, the cases total quietness and many more smaller but yet telling actions. I will not say when but one can say and be exactly correct this case will end. It could go something like this, over dramatically with a settlement (unlikely now), case blows wide open (doubtful due to successful media control), EC is sold out (highly unlikely now) or this case end up being settled piecemeal (I am starting to believe this) and what I mean by that is over a Holiday weekend (prior to it) or a worldwide news event (special wedding?), the criminals could make an 8K filing suggesting that EC take control due to the above factors. Patience, good luck, due diligence are still required and take care WaMuer’s as this WILL end and IMHO, we will be OK!
Joe, you could be right and of course this Judge wants this over which means JPM/FDIC get 50-100 billion in free cash and goods, not to mention ALL of the illegal actions they have been caught with. I guess it is really up to the EC and what they want. The EC based on these illegal actions should be able to take charge, exit bankruptcy as a solvent company and then continue to a jury trial in which the criminals would settle for whatever we ask for. Everybody knows NONE of the criminals would dare go to a jury trial and the only way we get it is to exit this corrupt system in Delaware.
Lawrence, very good but the problem is this Judge is out to protect the FDIC/JPM at ALL costs. Once again, actions speak far louder than words EVER did or will. There is no doubt we have to get the G.S. denied and this is how I think it COULD happen. Susman tells the Hedgies they WILL forfeit all ill gotten gains which is about two billion, this puts Assets far greater than Liabilities, then they have to call Rosie off and tell him that the Hedgies are now backing the E.C. and they WILL lead the rest of this case. So the Hedgies (wishful thinking) walk into the Judge's Chambers on 5/2 and tell her they have a deal with the EC and the EC will now be in charge of the case because they think that is the right (corced by jail time) thing to do. This explains all of their recently lawyering up even more and explains their depositions are still with the May 13, 2011 deadline on objections.
Gearing up for 5/2 (Chambers) Hearing???
Thank you Boris, [I pulled it off Pacer and it's rescheduled for May 9th at 10am.]
There is very little time between May 9th and POR objections deadline of May 13, 2011. My take is a Chambers meeting with the players discussing that Equity will need to take charge of the case due to the noteholders VOLUNTEERING to give up their profits and that they are behind the EC in taking control.
If I do say so myself, I am liking the way this is going and the way I am thinking, so does ANYBODY, ANYBODY...ANYBODY else?
ABSOLUTELY, however a settlement would unfortunately-probably negate RICCO and more, but at least we win!!!
Ponder this-NOL's = VW type of shortsqueeze!
With all that is going on with the known NOL’s and all of the other assets that Rosie is trying to give away via his current, amended, altered, voided, re-amended POS POR six and seven eights, it would seem SOMEBODY would offer the very minimum to take over this organization of WMI. As far as I know the POR was denied on 1/7/2011. The real question I have is why would somebody NOT make some sort of low ball offer when you realize just how many billions of dollars is really involved here?
Whether it be the EC, a competitor, a smart business person, Hedge Funds (can anybody say Blackhorse?) or a combination of these, I still have a very large wager saying an offer of some sort will appear before the Judge can rule on this ALMOST POR seven and I am thinking we will NEVER see a Confirmation Hearing period! I have no doubts and have always felt Rosie would NOT show any offer that MAY have been offered since this travesty began. I also believe Susman has evidence (smoking gun) of a bid (s) and if he can prove Rosie hid it and never showed it, and then Rosie is prison bound along with the entire destruction of Weasel/Gotcha and Mangle.
If you are worried as I have been on and off since 9/26/2008, then you should reread thises filings by the Susman team. Remember one thing what Susman said in the beginning when asked what his strategy was and he said, "I have to get this POR denied" and he did. If concerned, reread these filings and you WILL understand more and especially this very next filing with 97 PDF pages.
http://www.kccllc.net/documents/0812229/0812229110203000000000006.pdf
http://www.kccllc.net/documents/0812229/0812229110118000000000005.pdf
http://www.kccllc.net/documents/0812229/0812229110211000000000001.pdf
http://www.kccllc.net/documents/0812229/0812229110121000000000004.pdf
http://www.kccllc.net/documents/0812229/0812229110119000000000002.pdf
Hedge Funds actions = prison=information=some justice!
With four of the Hedgies depositions being delayed to post Easter Holiday, it does make one wonder. I have long thought if this case were to ever reach a point where people would have to worry about going to jail, real actions would start to happen. The Hedgies, even though they are not part of the GSA, does it really matter as they are going to end up with the reorganized WaMu the way it currently stands anyway? We have to realize early on and before there was an Equity Committee even seriously considered these very people had drafted the original GSA plan. Remember back during the Xmas/New Year Holidays in 2009 when this settlement was suppose to be announced (so planned early in 2009) but earlier in that same month the 800 pound Gorilla was dropped with Tim Main’s email, showing Project West and a lot of criminal evidence along with the planned (war room) take down of WaMu. On or around 12/16/2009, Joe McMahon introduced his filing (exigent circumstances) for the EC. Sometime during this same month, Quinn Emanuel was a huge player in all of this mess as well and they were having issues with Weil about where they stood legally in this case. Obviously, the criminals had to regroup, get on the same page and then this same GSA was announced on the infamous date of March 12th, 2010 and we ALL know what happened then. Actions do seem to be coming to SOME kind of head and I believe very positive for longs.
I do not think a settlement actually has to happen soon although possible, but what I do expect very soon is the Hedgies to reveal how they are going to play this by either working with Equity or taking a chance and gambling on prison time. I say intelligent, smart and savvy people will NEVER gamble on going to prison. With many thanks to Thoma, Gibson, Ilene (Ihub) and many others, we would not be in this exciting position of the criminals in a very trying position, which position equity had to have to win or at least get a seat at the settlement table. I will also say as long as ALL four Hedgies do not end up being deposed, Equity is in a very exciting position. If three of the Hedgies get deposed and one holdout, IMHO, that would be the talking horse and I am sure some of that has already happened. I believe we will have a good indication where the Hedgies are going by the second week in My, 2011. The intense quietness, non communication, no voting instructions and much more is all discussed in Susman’s Bio about how he wins cases and this strategy so far is exactly following this strategy. We shall see SOMETHING very soon. Happy Holiday to all and have a SUPER week ahead!
William, obviously you and I are much alike in the way we think. I learned a long time ago when making important decisions to follow one's actions and make your decisions accordingly. Most people do NOT like to do this because they want something more instantaneous and they think they get it by talking to people. The problem with this reasoning and action is that MOST people lie, including VERY high level people with these exciting titles such as the President of the U.S., CEO of this and CEO of that.
I have read enough of your posts to know that you and I make decisions based on one's actions as opposed to just listening to their recipe for losing and of course Rosie is a great example of that. After reading this EXCELLENT post of yours, I can tell you that you are "spot on" and you and I will be VERY close to being correct when the next major filing is made (such as an 8K) discussing the next course of action that this case will take. Enjoy and have a very safe Holiday and ENJOY this weekend!
fsshon, thank you and make sure you and your family have a wonderful Holiday and enjoy the weekend in a safe way. You always have great, sensible, realistic and common sense posts!
With all of the negativity on the Y board and some of it carrying over to this board, I felt compelled to repost what I wrote last night.
Our time is VERY soon-Have patience Grasshoppers!
The POR clearly states that the EC will be disbanded in its entirety, along with cancellation of equity period. Now, I know what some of you will say to my question about who is going to pay Susman post POR confirmation. I know some will say he will take on a contingent basis. JPM is nothing more than a branch of the U.S. Government disguised by hiding behind a corporate title that has equity issues trading. There is no way Susman is going up against that without pay as he works and of course I could be wrong, but I doubt it. Not only that, but these criminals will be released on most major issues. For those of you that think Susman is trying to make a class action suit out this case at some point, I do NOT think you would lose the Chapter 11 case with Equity zeroed out and then think people are going to put up more monies to chase another rabid squirrel. I could be wrong but to me this does not make any sense.
I will go on further to say if PJS is any good at what they do, they would have had what WMI owned before chapter 11 filing and after in a very short period of time. That would have been very easy and only taken a short period of time, which would explain why they have not done much. It is already done and waiting for the timing as many people say, you cannot just go into court and blab. So now we wait for our turn in court. I have thought for a long time the EC was working indirectly with TPS and others, but would not divulge this. This also explains why the EC hits certain hot topics and the other parties hit the hot topics we do not. I am sure we will see some type of individual or corporate interest or even a POR based on the real assets, when the time is right. We SHOULD have an indication of this on May 13, 2011 if not before due to the Hedgies actions or no actions. I also said at the very beginning of this case, I was extremely worried about corruption reaching the Judge and ALL parties. After all, why shouldn’t I? Isn’t that how we ALL got to where we are?
I have also always felt that the competition would save us from corruption. Any good business person knows their competition and what interests they have and most people even know what their competitors are worth, know their subsidiaries and know almost as much as they know about their own business. With that said, I have no doubts people who have interests in making billions and billions of dollars are not about to let Rosie and his band of thugs get by with a 140 million dollar valuation on the reorganized WMI. All Susman has to have is a valuation by a reputable firm, interested parties (yes there are some-Susman’s filing) to show up at the confirmation hearing with either a POR based on the signed numbers by PJS or to show the Judge a confirmed interest with potential price tag and it is all over for Rosie. Yes, this could have been accomplished in a very short period of time, considering how long we have been here and Equity has to wait for their turn in court which, is rapidly approaching. So here is to BIG MONEY to the sum most people here could only dream of but first, PATIENCE GRASSHOPPERS!
William, from the sound of the discussion between Bopfan and Gibson that Willingham will be gone, but I have no idea.
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_W/threadview?m=me&bn=86316&tid=725285&mid=725285&tof=1&frt=1#725285
Our time is VERY soon-Have patience Grasshoppers!
The POR clearly states that the EC will be disbanded in its entirety, along with cancellation of equity period. Now, I know what some of you will say to my question about who is going to pay Susman post POR confirmation. I know some will say he will take on a contingent basis. JPM is nothing more than a branch of the U.S. Government disguised by hiding behind a corporate title that has equity issues trading. There is no way Susman is going up against that without pay as he works and of course I could be wrong, but I doubt it. Not only that, but these criminals will be released on most major issues. For those of you that think Susman is trying to make a class action suit out this case at some point, I do NOT think you would lose the Chapter 11 case with Equity zeroed out and then think people are going to put up more monies to chase another rabid squirrel. I could be wrong but to me this does not make any sense.
I will go on further to say if PJS is any good at what they do, they would have had what WMI owned before chapter 11 filing and after in a very short period of time. That would have been very easy and only taken a short period of time, which would explain why they have not done much. It is already done and waiting for the timing as many people say, you cannot just go into court and blab. So now we wait for our turn in court. I have thought for a long time the EC was working indirectly with TPS and others, but would not divulge this. This also explains why the EC hits certain hot topics and the other parties hit the hot topics we do not. I am sure we will see some type of individual or corporate interest or even a POR based on the real assets, when the time is right. We SHOULD have an indication of this on May 13, 2011 if not before due to the Hedgies actions or no actions. I also said at the very beginning of this case, I was extremely worried about corruption reaching the Judge and ALL parties. After all, why shouldn’t I? Isn’t that how we ALL got to where we are?
I have also always felt that the competition would save us from corruption. Any good business person knows their competition and what interests they have and most people even know what their competitors are worth, know their subsidiaries and know almost as much as they know about their own business. With that said, I have no doubts people who have interests in making billions and billions of dollars are not about to let Rosie and his band of thugs get by with a 140 million dollar valuation on the reorganized WMI. All Susman has to have is a valuation by a reputable firm, interested parties (yes there are some-Susman’s filing) to show up at the confirmation hearing with either a POR based on the signed numbers by PJS or to show the Judge a confirmed interest with potential price tag and it is all over for Rosie. Yes, this could have been accomplished in a very short period of time, considering how long we have been here and Equity has to wait for their turn in court which, is rapidly approaching. So here is to BIG MONEY to the sum most people here could only dream of but first, PATIENCE GRASSHOPPERS!
Maybe I should rethink that fsshon, because this Judge let the Debtors go after the EC and then several quit but I think being a member of a Committee is different than an ordinary shareholder wanting to show cause.
fsshon, IMHO this Judge can legally sign this for Appaloosa, but if she does she is ROTTEN to the CORE. I will go out on another limb and say she will not sign it for the the Hedgies but there is NO doubt in my mind that if it was JPM/FDIC's filing and they wanted it she would NO DOUBT sign it.
fsshon, exellent discussion and SUPER call. I am ready to go out on a limb again as I finally recovered from that last one as you, THANKFULLY braced my fall and I hope you were not hurt to bad.
I like to make ideas/opinions, decisions based on peoples actions. With the Hedgies recent actions of "blinking", I think we are in for an 8K filing between Wednesday and Friday of this week or a filing of a MAC (material adverse change) which will make or could make a difference in the equity prices Susman is not allowing himself much time for his May 13, 2011 filing of objection to the POR. Based on this fact he HAD to already get some VERY valuable information or has already made a deal with the HEDGIES. So far, I am on my own and if I am wrong, it will make for a VERY hard landing!
WaMu seized-A Thu evening-Long weekend-Bair gone-Horsie actions?
With one of the Hedgies depositions being delayed to post Easter Holiday, will there be more? I have long thought if this case were to ever reach a point where people would have to worry about going to jail, real actions would start to happen. The Hedgies, even though they are not part of the GSA, does it really matter as they are going to end up with the reorganized WaMu the way it currently stands anyway? We have to realize early on and before there was an Equity Committee even seriously considered these very people had drafted the original GSA plan. Remember back during the Xmas/New Year Holidays in 2009 when this settlement was suppose to be announced (so planned early in 2009) but earlier in that same month the 800 pound Gorilla was dropped with Tim Main’s email, showing Project West and a lot of criminal evidence along with the planned (war room) take down of WaMu. On or around 12/16/2009, Joe McMahon introduced his filing (exigent circumstances) for the EC. Sometime during this same month, Quinn Emanuel was a huge player in all of this mess as well and they were having issues with Weil about where they stood legally in this case. Obviously, the criminals had to regroup, get on the same page and then this same GSA was announced on the infamous date of March 12th, 2010 and we ALL know what happened then. Actions do seem to be coming to SOME kind of head and I believe very positive for longs.
I do not think a settlement actually has to happen soon although possible, but what I do expect very soon is the Hedgies to reveal how they are going to play this by either working with Equity or taking a chance and gambling on prison time. I say intelligent, smart and savvy people will NEVER gamble on going to prison. With many thanks to Thoma, Gibson, Ilene (Ihub) and many others, we would not be in this exciting position of the criminals in a very trying position, which position equity had to have to win or at least get a seat at the settlement table. I will also say as long as ALL four Hedgies do not end up being deposed, Equity is in a very exciting position. If three of the Hedgies get deposed and one holdout, IMHO, that would be the talking horse and I am sure some of that has already happened. I believe we will have a good indication where the Hedgies are going by the end of today, but certainly we will know something by Wed/Thu late evening. The intense quietness, non communication, no voting instructions and much more is all discussed in Susman’s Bio about how he wins cases and this strategy so far is exactly following this strategy. We shall see SOMETHING very soon. Happy Holiday to all and have a SUPER short week!
William, as usual, another outstanding post and as you know MOST of us truly appreciate your thought process! Regardless of what ANYONE wants to say, there is undoubtedly something very GOOD going on for Equity unless we have been sold out. I ABSOULUTELY do not feel this way, which is contrary to the Examiner. I made point when Susman first ask for the Examiner as it scared me dearly, due to the fact of a Government employee and only one which would be easy to buy off. Unfortunately, we all know how that turned out.
I am normally correct with my vibes and again, I ABSOULUTELY do not see or have any negative feelings or thoughts about Susman. In fact if you look at Susman's history of winning cases, this is a perfect example of being quiet, planning for the attack, surprising his adversary and when the timing his correct, he will unleash a fury Rosie has not seen. This is how he explains in his Bio how he works which include deposing few people and then waiting to the very end to depose them. He has this case set up perfectly, but I will believe it when I see the facts as we have ALL been wronged from the very highest in the US Government to the lowest.
I still say the Hedgies cannot be deposed and if they are ALL deposed then I think this would be more of a negative for Equity than not. I am counting on them NOT wanting to go to jail!!!
Discussion-What can/could be discussed on 6/6/2011?
During last December Confirmation Hearings the Equity Committee presented something such as assets and/or other but were denied the opportunity to present whatever it was. I believe it was along the lines of someone being there from Solomon (expert witness) who was going to testify about the assets. Does anybody remember this and exactly what it was the EC was trying to present but was unable? If you do know what it was, do think it was the EC’s fault what was this about and they were unable to present? I thought it was extremely crucial to the EC and a huge overall negative for us at the time.
I am bringing this up because if Susman/Willingham have an interested Party (s) who may want to submit a bid based on Rosies numbers, but not giving monies away to the perpetrators, using these monies to make the Estate whole along with all holders of equity. They could possible exit chapter 11, continue on with the same business plan Rosie had but not cancel equity. With the potential value of the NOL’s, there has to be several interested parties. I just do not know if the GSA has to be denied first or if an entity (s) can have their interests known before a decision is made on the current GSA/POR? I find it hard to believe the court would not want to hear from someone who is willing to pay much more than Rosie’s plan provides. It would also be very disturbing to realize one cannot show interest to the court before a decision on the current POR is made. If the EC has to show everything it will discuss ahead of time, then the EC would have to present everything they are going to have/discuss on May 13th, the deadline for objections, I presume. I am wondering if this is correct or not?
This may go back to the debate about a Chapter 11 plan only having eighteen-twenty months to be confirmed and if it is not confirmed within this time then competing plans may be involved. The problem for us has not been people who are not interested but the Debtors/shielding/hiding assets and interested entities not knowing what is exactly available to make a plan on. The following link discusses the maximum time allowed in chapter 11 in the fifth paragraph.
http://www.abiworld.org/AM/Template.cfm?Section=Home&TEMPLATE=/CM/ContentDisplay.cfm&CONTENTID=41335
William, another very intelligent reply and you are correct. There would be no way that Rosie would want to take a chance on another valuation...why would they as they already have the results they want and our wonderful Judge gave all of our remaining assets to the criminals. Thus, the POR "fair and reasonable" and we still have too much money with the NOL's. What is one to do, since he cannot come out and give it to Charity? Maybe he can get more favors from the Government and use all the excess to reduce the national debt.
So, yes, William once again I think you are "spot on" as Rosie had to find somebody gullible enough, young enough, who probably expects handouts for every trivial thing such as waking up and telling him this will look GREAT on his resume. Not to mention, we will give you an astronomical sum of money if you just enter what and when we tell you to. They have to reduce by at least 500-to 8oo million dollar ranges and I would assume the Judge, if she does anything to the Hedgies, will make sure the amount reduced fits into Rosie's (skeptical-oh yes) range. I hope I am wrong about that but one's current and past actions cannot be ignored if you want to look at reality of where we are and how we got here.
I feel our real chance of winning in this court will be that Susman has to show the Hedgies committed a crime. Along with this showing the true assets pre and post petition filing. I am of the belief that we may not have to go that far as I feel the Hedgies have to be thinking about prison this weekend and they will not be deposed. As people say a good lawyer is several steps ahead, so Rosie is planning on devaluing his already devalued assets. I just cannot imagine this going to a Confirmation Hearing without equity included.
Unfortunately Jack, you have stated the facts as they have happened and it just goes to show you what the Judge has carved out in this case. That is, she gave the entire WMI assets to JPM for nothing and MAY leave us with some NOL's that are still enough to get dollars to commons if the Judge has a spine to at the very least, give the new WMMRC to the EC which is teetering on what Susman has.
I wish Susman could get this sham of a bankruptcy case stayed until this POR could move to the Supreme Court or other for appeal. Due to her past actions, she is going to do everything in her power to get a POR approved in her court without an appeal being heard before confirmation.
Catz, they either made the trades or they did not during the time frame that they were negotiating. Their history does not lie. Keep in mind, when they originally were making this scam POR, there was not an EC for the first 14 months, so they thought they were scott free with NOBODY watching. Oh yes, they are GUILTY as their actions prove. They only have two ways out and that is if Susman is compromised or they work with the EC and that may even be to late.
I say there will probably be no depositions taken, due to the fact of the criminals, without question, have committed insider trading crimes. With that, I say they give up all of their monies and work with the EC to avoid depositions and I believe that still MAYBE possible, of course depending on their cooperation.
With what ever moves the Hedgies make should reflect VERY soon and positive in ALL WMI equities. The very simple fact is, they will tell on anybody and do ANYTHING to avoid prison and there is only one way (maybe) left to do that and that is to work with Equity PERIOD!!!
CXLT 8K filing should make for a VERY green future!
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7543603
Backup plan? GSA expired 1/31/2011-FDIC/JPM free to negotiate?
If I am not mistaken the GSA expired 1/31/2011 and all it takes is one of the parties to send a one liner saying they are out. In other words the criminals have been free to negotiate with Equity. This discussion has all gone by the wayside due to the criminals wanting to see if they can get the Judge so sign off on all of this corruption. I feel something is going on and has been going on a while now due to the actions that I have noticed in court as recently as 3/21/2011 and other smaller signs. The discussion on this board had dried up in reference to the expiration of the GSA. While it may have been extended verbally or other, I believe the criminals are still free to negotiate with Equity, where before 1/31/2011 they could not even do that. In other words, surely they have a backup plan.
Now the criminals have to know that the insider trading issue kills the POR as this is a crime and Rosie had access to the 2019 showing who bought what and when. This should be easy for Susman to prove, especially since he was awarded discovery for trading records, dates, time’s third party issues and more. One would have to think the criminals still want this to go away sooner rather than later and they also have to know the Judge cannot approve the POR once Susman enters the evidence of a crime without being complicit to the crime herself. So what do the criminals do? I would think they have to have a backup plan that will include Equity or other.
The criminals have kept these crimes blacked out worldwide for almost three years and I cannot imagine them letting Susman expose all on 6/6/2011. Something HUGE has to give real soon and maybe with one of the two Holidays fast approaching. Even May 13th, 2011 has to be huge as Susman has to show what we are going to oppose, object to, discuss and more, so this filing should be an “eye opener” if we get that far all IMHO!
Preliminary proof of insider trading. NO DOUBT! ALL LONGS READ!
When you start reading PDF pages two through six, it shows the preliminary evidence that Susman already has and please read the foot notes. All longs need to read this NOW and you WILL have a different perspective of what Susman has already done and is doing with the insider trading issue.
Once the crime is proven, I can see NO WAY this Judge can approve a POR based and built with criminal intent. NO WAY, NO HOW this Judge can approve and call this fair and reasonable once the proof is submitted, unless she wants to be part of aiding and abetting bankruptcy fraud. Susman basically shows you the proof in this filing and how he will get the rest through depositions if any is needed.
http://www.kccllc.net/documents/0812229/0812229110203000000000006.pdf
Wow William, you have outdone yourself again!!! Truly, another outstanding, well reasoned, fact based and informing post. You and I must be related as I agree with just about everything you have said about this mess since I started reading your posts quite some time ago. Keep up the SUPERB work and DD, as you no doubt have a large following with this case.
I would suggest ALL true WaMu longs to read this filing by the Susman Group AGAIN and let it SINK in.
Keep in mind, the depositions of the Hedge Funds will take place between 4/13/2011 and 4/21/2011, saving the best (crime) for last. IMHO there is nothing better to get the POR thrown out than being able to show proof the Settlement Note Holders engaged in the crime of insider trading.
Yes, I understand that Rosie will say they are no longer part of the Global Settlement; however they DID draw up this mess and therefore will be proof of NOT FAIR & REASONABLE by evidence of a crime. Now IMHO, there is just no way this Judge could approve this POR, if in fact proof is shown of the crime of insider trading without being part of enabling the crime of bankruptcy fraud in the Delaware court system. Please take time to READ this filing as the timing is perfect and will give all longs encouragement.
http://www.kccllc.net/documents/0812229/0812229110118000000000004.pdf
June 06th, 2011...Just does NOT make sense... Unless?
Let’s look at the facts of this case since 1/1/2008. We know that Dimon conspired with several other people to bring WaMu down as he had been after this organization for many years. Everything Dimon did from signing non disclosure contracts, flooding the media with libel/slander about WaMu, advising other Senior Executives about WaMu’s state with confidential material but NOT telling them the real truth, Project West, Bair’s Emails and on and on for almost three years now.
When we look at the total blackout on WaMu worldwide in print and media, this is truly a major feat for any entity including the US Government. The constant Congressional lies put before the American People about WaMu with the bogus hearings that most of us heard, the continued lies about WaMu’s financial performance, assets, liabilities and more, how could ninety nine point nine percent of the American People know any different?
Now here is my conjecture and I say this Confirmation Hearing on June 6th, 2011 cannot happen unless Equity is included or better. With everything the true longs and the true Bashers know about this, how can the criminals actually let Susman and PJS get up in a public domain and discuss at length all of the assets, proven solvency of the WaMu organization, current and future NOL’s which bring in many more billions without bringing this whole tragedy out into the open and no, I do not buy under seal as there is just too much? I will be here in the end and I will still say unless Equity is included, there is no way this Confirmation Hearing can take place.