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Thoughts???
I do not expect the Confirmation Hearings to take place unless Equity is included. I feel the Hedgies have to make a deal and with that they forfeit all of their monies they have made, plus have to agree (probably sealed) to let the court know the POR was made in bad faith due to several of what I will call “mistakes”, thus making the plan not “Fair and Reasonable” and has to be reworked with Equity. Of course the FDIC/JPM could pull out at anytime, if they are going to throw the Hedgies under the bus and if they do, this is going to be a lot of fun. I just cannot believe these criminals are that stupid, but from JPM’s past actions we know they will “eat their own” for power, money and anything to propel them higher.
With the latest news about Hedgies and insider trading, this will either be over VERY soon or Susman will be going for control (my guess he is) and I suspect he will corner this Judge due to the insider trading crime (sealed again), with the Horsies approval and will force Rosie out. As far as a settlement goes I think has to do with media news coverage. If any coverage starts this will be over in a New York second, because the amount of money JPM is making they would like to make this last years. I feel very good about this; we have waited almost three years and the fun is just now getting ready to start.
Strike, I agree with 6/6 not taking place UNLESS Equity IS included. Let's look at the facts, total blackout worldwide for almost three years, controlled/slanted information that is let out, one continuous lie compounded by fraud, continuous bankrutpcy fraud, on and on. So all of a sudden they are going to let ALL that happened in the worlds largest financial crime of the centruary and those who contributed to the seizure of a solvent bank, destruction to 49 thousand former WaMu employees positions to be disclosed to the world?
I just do not think these people are that STUPID. Now the real destruction has started with the Hedgies being thrown under the bus...does JPM/FDIC continue to act like they are God or do they end this quickly before the Hedgies take them down with them? Now there is a 200 billion dollar question for you.
William48 and Uzual,
Patience Grasshoppers, patience. I have no doubts you will be happy. From Susman's end this could just be a timing issue and everything in this Judge's court is a Confirmation issue. So Susman and team is just biding their time. Susman has already showed us in his filings that they have found evidence of interested parties, however Rosie no doubt sent them packing. I would not be surpised that Susman has evidence of a bid or bids that Rosie has squashed.
Common sense tells me with multiple of billions of dollars here; trust me there are plenty of people interested and you will see a new POR soon (exclusivity was over after 20 months) or interests from other entities who could use the NOL's to maximize the Estate
http://www.uscourts.gov/FederalCourts/Bankruptcy/BankruptcyBasics/Chapter11.aspx
Just sit back and relax, pull up a chair, turn up the music and get ready to watch the fireworks. Even with a crooked Judge, we will win but how much may be a different story.
By the time we get it, it will be between 4:30 and 5:00 Eastern Time. If there is something good in showing equity positive, Susman may file it around 3:00 to 3:30 eastern time to give us a little present and Rosie some of VERY distasteful deserving medicine!
I agree there are buyer (s) lined up and that could indicate what appears on the surface to be soft approach, as they are having to wait for the timing.
Sf, great post as always and I hope to meet you one day!
SF, I have no doubt something big is going on and going down soon. Lets look at the facts. This multitude of crimes against humanity has been going on almost three years. This has been blacked out worldwide, in print, media and ogther for the same period of time. Now all of a sudden on 5/13/2011 and 6/6/2011, the criminals are going to let Susman show the world to a degree what he has, what he is going for and other goodies he has found through discovery-entriely exposing what the criminals stole including a solvent bank. I just do not believe ANYBODY could be that stupid, so to you I say, you WILL be closer to being right when this is all done and said than ANYBODY else.
Wamuvoodo, I think you are wrong on that as the Judge would not let Susman enter some evidence at the last Confirmation because it was not disclosed ahead of time (I think), so he will have to disclose any and all that he wants to discuss on 5/13 for 6/6. I have doubts we will see a Confirmation Hearing and also some doubts we will see all of Susman's objections on 5/13. Think about this, the criminals have kept this blackout worldwide in news, print and media for almost three years and now all of a sudden they are going to let this out on 5/13 or 6/6 and along with the weird voting from the Brokers (calling us-other), the Hedgies Prisoner's Dilemma, it would seem to me this (MAYBE) getting close to finality.
William48, I have done much DD on Susman and I encourage you to do the same because you will understand how he works, previous results and much more. He is very quiet, says very little, does his work, and then when his opposition think they have it in the bag, boom, he nails them with overpowering, fact based that even a crooked Judge will have a very hard time overcoming and he has recipe for that as well. Now, I am not saying Susman has not been bought off like the others, but this is set up PERFECTLY for him to win (previous results prove) and surprise, knockout punches is how he operates. He will tell you this in his Bio and also has many cases over the decades to prove his results. I know an old ninety year old former CEO that had to settle with him over 25 years ago for forty million and this CEO said, you do not want to be on the wrong side of this Texan.
On Friday evening we should have a VERY good idea of where we are and what is going to happen. Have faith in this and I WILL WITH HOLD judgement on TEAM SUSMAN, and if he sells us out then I can rant but not before. Keep in mind Susman always files on time and at the last minute, so plan on seeing Susman's filing between 4:30 and 5:00pm on Friday evening May 13, 2011. So far Susman has been on point and after all his lead objection is the ONLY objection this VERY SLANTED Judge used to deny this POR or otherwise this stock would have been halted in January, 2011 and we would have ALL been zeroed out. Think abou that for a few minutes.
I thought her term was ending this June, anyway???
Great post and again I agree 100 percent.
William48, there is no doubt that I love your post and I agree, if Susman can corner this Judge with the crime of Insider Trading, we are GOLDEN! I still think that there is a reason that a very professional, successful law firm like SG would not advise it's Shareholders on how to vote. I do not buy he told us the first time. I was at the March 21st hearing and I saw how all of the players acted when it came to the voting. TPS,EC Or Blackhorse acted is if it did not matter. I am a huge believer in ones actions and to me these actions were and are very telling. I am thinking we see something this week that makes the voting a mute point. I just do NOT BELIEVE SG would ignore Equity when if fact they would desparate to know how to vote.I think this action is HUGE and would like your thought on this...Thank you
William48, a truly very interesting an valuable post. One problem I see and I am sure you have to is the date of 6/6 for Confirmations Hearings. Unless we ask for and receive a delay to push this out to July or whatever, the Shareholder's Meeting is a mute point, very similar to the Delaware appeal that will not happen in time.
Bigbang, I hate to say this but this Judge has ignored about another fifty billion worth of cash/assets, so what is ignoring another ten billion or so including the releases that due to the changes are now good in her and Rosies opinion.
You are correct Bigbang, but my thoughts are based on this Judges current and past actions...says one thing does another...no follow through...never holds Rosie to anything positive for Equity and since Rosie has change a couple of words she will "move forward" and sign POR unless Susman has her cornerd and I think he will/does. I do not let emotions get involved with my thoughts/decisions, only this Judges current and past actions. I wish somebody including the Judge could prove me wrong!
Week ahead-Very telling-Watch actions closely-Could be decisive!
The week ahead will show if the Hedgies will be deposed. I still say none of the last three will be deposed and yes I did not think Aurelius would be deposed either. I have since had thoughts on why they were that I think makes a lot of sense. It appears they were forced to be deposed, and the reason being (according to billings) would be they are VERY guilty. Now, if one is going to dismantle the GSA, it would make sense to have the guilty people on record showing they were part of this crime of stealing the reorganized WMRRC, hiding assets (bankruptcy fraud) and zeroing out shareholders. Then Susman could make a deal with the other three Horsies to prove verbally and in writing (throw under bus) Aurelius is guilty, thus cornering the Judge (who wants to sign current POR) into denying the POR/GSA or will prove she is aiding and abetting the crime of bankruptcy fraud. This play is truly brilliant and this would explain why Susman did NOT give Aurelius ANY choice as Susman needed this on record to prevent the Judge with coming up with some lame excuse to sign the POR and leave her NO WAY out, unless ignoring crimes is on her agenda. Quite frankly, the EC has NEVER looked so good! If we see the other Horsies delayed or moved this will tell me Susman is on his way to taking control of the Estate. Then we would either see an 8k filing very soon, disclosing a deal with the Horsies or since we are so close to the 5/13/2011, he will just include it in his total objections due 5/13/2011.
Next we get to look at the real valuation of the entire POR and even though this is extremely important, I feel the above is the only way we can get the POR denied and that is because the crime of insider trading really destroys the criminals overall strategy. We have already seen this Judge give everything to the Government and the ONLY thing she may want Equity to have are the NOL’s and she expected Rosie to do this which he will not. I do not believe she would cave into Equities favor versus turning Rosie and the POR down. I am sorry folks, her actions are far to telling on what she WANTS to do so with that said I feel Susman has to make the crime his MOST important stance (even over valuation) if Equity is to get charge of this Estate. The Judge will make sure there is no appeal heard in Delaware for the sake of Equity, before she has a chance to sign this POR, thus mooting the decision if there ever is one. I also believe this is why Susman has been working on Rule 65, to overthrow this Judge or invoking a stay if in fact it goes that far. I still believe we have multiple plans of attack and I feel strongly that Susman has to work the angle of a crime being committed to get control. The criminals can come up with many weak excuses, other paid of criminals and so much more to reinforce their under to no valuation of the Estate and the Judge will no doubt sign this POR, based on HER PAST ACTIONS!
I have said this before and will say it again and that is we have multiple plans of attack planned and Equity has been quietly working with TPS, Blackhorse and others (behind the scenes) to ensure this POR is denied and/or coming up with our own POR to be entered sometime and maybe even this up coming week. Susman knows beyond doubt this Judge will approve this POR unless he has something extremely damaging and that goes back to proving the crime of insider trading and the forced deposition of Aurelius. I feel there will be multiple reasons the POR has to be turned down, but the only reason (POR is denied) will probably be if Susman is able to successfully tie the Sr. Note Holders to the crime and I feel very confident, based on billing records he CAN and WILL accomplish this. Many times in the past I have said we would never see a ruling on the infamous four billion and see a total asset list/valuation. The criminals have kept this blacked out for three years, controlled the media, threatened people and any/everything to keep anyone from finding out, so most people expect that this is going to be on the front page news during the Confirmation Hearings or before? Makes one really wonder now, does it? not? Is this the week that SOMETHING is finally and really getting done? If it is not, it WILL BE very soon now. I expect a lot of green in WMI securities this week.
In all honesty when there are billions at stake, what does it really take to influence a 150-200 thousand dollar a year employee called the Judge? The way these criminals operate, if one thinks they have not corced, threatened or swayed the Judge is just plain naive. I am hoping this case is bigger than the Judge or I would have sold a long time ago. I have faith in the case being larger than this Judge and competition will come to our rescue offering much more than Rosie's give away program. I would think the competitors of the criminals would do this just for spite if nothing else.
Rocki, there is no doubt this goes all the way to the very top in the U.S Government. What is so sad is our Forfathers were so intelligent and knew these types corruption were going to happen so they made sure there was three branches of Government, to protect us against what we are now experiencing. Due to all the previous corruption, everybody always seems to get off even when they are caught so what really is the deterrent. Just like here they are so fearless they do not even want to make a small settlement for what they got caught stealing because, again, there really is no deterrent. These people are so sick and greedy, they are poisoning the VERY pool we ALL swim in.
Night, as much as I hate to say this, Walrath and Rosie IMHO have acted as if they were teamed up for this assignment and partners to the end. To me, actions are and always have been far more telling and trustworthy than what anyone has ever said or can say.
wamu, she already is. What do you call fair and reasonable where she says in her Opinion at least 85 times of a 109 page report that there is basically no money for equity? The almost exact same rant as Rosie. Sound familiar? I am just hoping that Susman can corner her on the crime of Insider Trading, but I am even afraid she will say as Rosie has "well I am going to move this forward as they are no longer part of the POR" but they are as they are the ones who hold the majority of the stock.
This chart is great but the problem is our Judge who has given EVERYTHING away with a chance at some NOL's.
Terrorism and this court appear to be on an equal footing. Oh, what an tangled web of tragedy this country has become which is the tragedy in and of itself! Hopefully Susman can at least bring some justice and if commons only received a dollar, that should trigger the worlds largest "shortsqueeze" which would be some justice.
I agree, we should see something unless this is just tied to over all insider trading.
uzual, wow it traded 1.4 million shares with it down fractionaly. Something is up but why no change in price to speak of... that does not make much sense????
fsshon, I will go out on a limb and say if the Hedgies do not back the EC with what Susman wants, they WILL go down and Susman has already warned the Judge IMHO, several times about doing the"right thing" and he will go after the court to get control of the Estate. Anybody who would let the Government have everything they stole along with destroying 40-60 thousand employees careers, 401k's and much more and call this POR 'fair and reasonable" should be removed from the bench.
If she was getting to much pressure, then she should have removed herself before she tromped on the U.S. Constitution, destroyed a 100 plus year old institution and damage into the hundred of billions of dollars. When one takes into consideration what happened to the world economy after the financial world realized the U.S Government stole a organization to prop oup a corrupt one called JPM/FDIC. I will say if the Hedgies do NOT make a deal with EC (still possible), Susman will expose them and he will NOT seal their depositions but Walrath probably will.
goph, they can avoid this prosecution if the Hedgies cooperate with the EC and that is why they WILL NOT be deposed. If they are deposed then what you say is true, but until then they are not under oath and everything is circumstantional. Basically, what I am saying is they have to give Susman everything he is asking in order to avoid the deposition which in turn avoids criminal prosecution that would follow a deposition.
The only way she will is if Susman's goal is to blow up the G.S. (yes-IMHO) and take control of the Estate, but Susman has to threaten her (he has rule 65), have the goods on insider trading (yes-Hedgies's actions) and has to have the Hedgies back the EC by letting the court know the G.S was not fair and reasonable due to their trading (they will-avoid prison) and then before Susman get's total control and before Bair leaves office we may see the "real deal" but would have to be IMHO at least $75.00 a share to get releases and to bury this forever.
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.