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More than likely the only reason it is up like this today is due to the press announcing the WaMu class action lawsuit that will pay eleven cents a share and people are getting this confused, but hey, I will take anything. If this goes to ten or eleven cents quickly, this may be worth a quick trade with only shares one could play with-without hurting yourself in the event of a REAL settlement...remember this COULD happen at any given minute!!!
That would be UWBK that is just getting started...another illegal seizure. Drrugby has some knowlege on this one.
Goph, good points and even make it more simple. With just the Judge's posit on the ten billion, because that is fact of her previous rulings at thirty percent of a total of 35-40 billion in NOL's. So at the very minimun using FACTS, A>L an SHOULD control the case as equity is the rightful owner!
Strike, the great Dr. A valuation says it all with the exception, I believe of all the extra money for the NOL's and the Judge's posit of ten billion for the reorganized sub post chapter 11.
So there are actually two areas of attack, one for the entire WMI organization and then for the smaller reorganized sub, assuming the Judge wants JPM to keep everything else.
What happened with ANICO today...ANYBODY?
Watch, thank you and Uzual for your help.
Uzual, off topic a little but do you know how to highlight messages and show them as non highlighted after read? For a long time after I read a message it would change so I could easily see what I have and have not read and now all messages stay highlighted. Do you know how I can fix this? Thank you very much.
$425 mil/.25 cents for WAMUQ=Control=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 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.
William, I am in agreement with you as I am a HUGE believer in one's actions and not what they say. Actions speak VOLUMES and thank you again for ALL of your D.D and constistant, knowledgeable posts.
I have always felt and act the same way...thank you.
Mordicai, excellent post and OBVIOUSLY I agree with you. Do I have your permission to take your post over to Y and thank you in advance?
Believe or not to believe!
I have thought about competition in early 2008 leveling the playing field at some point. This point will probably come at the Confirmation Hearing, the day before or maybe even the day after. I find it hard to believe with billions and billions of dollars at stake, people who are envious, jealous, spiteful or just plain good business people would let JPM get away with this in total. Do not forget about John Reich, and other gentlemen who took off for the mountains as he would not cooperate with these criminals and much more who could be aligned with Equity. I feel we have the proof, many examples of illegal activity and there is no way Equity could lose this case other than selling out. I just do not believe the Susman group would do that but I am a realist and understand anything is possible.
If one would look at Susman’s history and go back and look at how he got to where he is, I believe would help explain as this case is exactly what he describes in his bio. Total silence, surprise attack (we saw some) and let’s his enemy make all of the noise while he is using this noise to go for the crushing, devastating and total knockout. If he said anything that we would like to hear, then he would have totally strayed from his historical perspective. Trust me, it does not feel good but if the results in this case even REMOTELY resemble his history, we are golden. I feel there is so much illegal activity, corruption, and other it really would only take a couple of these examples/crimes to blow this out of the water, so we do not need overkill and timing is everything. Rosie is ALL out of bullets and we have not even fired. Now you either believe in somebody like Susman or you do not and it is that simple. I also feel whatever Susman is going to do, there is never enough that Equity could do in promoting this travesty to the public. I know of one and only one action that supersedes all other and works EVERY time with the criminal element who hides behind the Government or Corporate titles and that is PUBLICITY. Now, this one word is the key for Equity since this has been blacked out worldwide since 10/26/2008.
My personal feelings are what is/could be under seal and/or in our discovery process are witnesses who have come forward with either themselves or evidence of competing bids and/or offers for the company pre/post petition. There is no doubt WaMu was very much sought after, if it would have been handled correctly. Just imagine all of the wrong doing that we KNOW of and all one would really have to show is a couple of pieces of this, not to even mention what a POR would look like even with Rosie’s crooked numbers. This could explain why we may not know and why it does not seem that the EC is doing much. This was either won or lost when Susman signed on and everything still appears to be going exactly as Susman’s bio shows. This is not to say Equity should remain quiet, as I am ALL for any publicity we could get out there. The problem is three individuals who include Rupert Murdoch control ninety percent of the world media which include all forms of communication and they are aligned with each other, so short of demonstrations, publicity will be very difficult
In light of the Judge approving the D.S. tonight 3/30/2011, this post COULD make more sense. I suggest a re-read and I will repost it below and check out the first paragraph.
This case has more twists and turns than a coiled up rattler. There has to be some actions very soon that will direct the course of this case. If the Judge goes by any of her directions/decisions made in court on 3/21/2011 and based on Rosie’s actions with his reply to the Judge’s directions, then there is no way this Judge can approve the Disclosure Statement. She did not approve it on 3/21 and now she has called Rosie out and he has refused to accommodate any of the Judge’s mandates. Rosie cannot show assets greater than liabilities because number one that would be tantamount to admitting bankruptcy fraud and number two he would lose control of the case to Equity. So does the Judge ignore her own demands or does she push this through to confirmation? If there is a true settlement in the works, then I say she pushes this through as there will be no confirmation hearing and the settlement would be announced at one the two upcoming Holidays such as Easter or Memorial Day.
I say this because Sheila Bair’s term ends I believe in June. I cannot imagine the criminals wanting to leave this case dangling with a lit fuse, just waiting to make fireworks around the world and let the new Chairperson have to deal with this mess and not to mention the President’s reelection campaign will be starting. The last thing the President wants is to have this case light up the world as he is starting his campaign. If the so called “power players” have any thoughts of ending this, I would think the window of opportunity is rapidly closing in. Now if the Judge follows any of her own orders and she denies the Disclosure Statement, then that tells me there is no settlement in the offing. I would say to people if the Judge pushes this through to a so called Confirmation Hearing date, this should be deemed as great news if one believes in what I just discussed above. I have to admit it would be demeaning if the Judge approved the Disclosure Statement but we all know one fact – this will end at some point and I would be hopeful the Confirmation Hearing would never happen.
I have said now for two years the Judge would never rule on the four billion, a true asset list describing all assets would never be shown and now I am going to go out on a limb and will say there will be no confirmation hearing unless equity is included. With a settlement, everybody would be off the hook with no admission of wrong doing by ANYBODY, equity in the money and this all goes away quietly on an extended weekend announced before the start of said weekend and late in that particular evening. If anything short of this happening the risk to the “power players” is so enormous that I do not feel they want to risk this. Unfortunately, Sheila Bair will walk out of Government into her private life looking like a hero instead of the criminal that she really is. All of this will be a faint memory to some and to others no memory at all.
What the Disclosure Statement decisions could mean!
This case has more twists and turns than a coiled up rattler. There has to be some actions very soon that will direct the course of this case. If the Judge goes by any of her directions/decisions made in court on 3/21/2011 and based on Rosie’s actions with his reply to the Judge’s directions, then there is no way this Judge can approve the Disclosure Statement. She did not approve it on 3/21 and now she has called Rosie out and he has refused to accommodate any of the Judge’s mandates. Rosie cannot show assets greater than liabilities because number one that would be tantamount to admitting bankruptcy fraud and number two he would lose control of the case to Equity. So does the Judge ignore her own demands or does she push this through to confirmation? If there is a true settlement in the works, then I say she pushes this through as there will be no confirmation hearing and the settlement would be announced at one the two upcoming Holidays such as Easter or Memorial Day.
I say this because Sheila Bair’s term ends I believe in June. I cannot imagine the criminals wanting to leave this case dangling with a lit fuse, just waiting to make fireworks around the world and let the new Chairperson have to deal with this mess and not to mention the President’s reelection campaign will be starting. The last thing the President wants is to have this case light up the world as he is starting his campaign. If the so called “power players” have any thoughts of ending this, I would think the window of opportunity is rapidly closing in. Now if the Judge follows any of her own orders and she denies the Disclosure Statement, then that tells me there is no settlement in the offing. I would say to people if the Judge pushes this through to a so called Confirmation Hearing date, this should be deemed as great news if one believes in what I just discussed above. I have to admit it would be demeaning if the Judge approved the Disclosure Statement but we all know one fact – this will end at some point and I would be hopeful the Confirmation Hearing would never happen.
I have said now for two years the Judge would never rule on the four billion, a true asset list describing all assets would never be shown and now I am going to go out on a limb and will say there will be no confirmation hearing unless equity is included. With a settlement, everybody would be off the hook with no admission of wrong doing by ANYBODY, equity in the money and this all goes away quietly on an extended weekend announced before the start of said weekend and late in that particular evening. If anything short of this happening the risk to the “power players” is so enormous that I do not feel they want to risk this. Unfortunately, Sheila Bair will walk out of Government into her private life looking like a hero instead of the criminal that she really is. All of this will be a faint memory to some and to others no memory at all.
PJS Managing Director, Ethan Buyon will be deposed by the debtors on 4/5/2011 and maybe they will get the same treatment the EC did...literally a fishing expedition but in this case maybe a pictoral of a Federal Prison will get their attention!
http://www.pjsolomon.com/ourpeople/811bio.asp
Here is some new news posted at 4:05pm eastern time right after the market close. Probably going much higher tomorrow.
http://eresearch.fidelity.com/eresearch/goto/evaluate/news/basicNewsStory.jhtml?symbols=CXLT&product=USPR____&provider=PR_NEWS_&storyid=201103281605PR_NEWS_USPR_____FL72662&hlinks=vnhl
Rosie will stay in control as long as he can show L>A and once Equity is shown to be larger than liabilities then Equity should run the case. There is nothing saying this is going to happen, yet. If Tepper gets afraid of insider trading charges he could order Rosie to include Equity in the new reorganized company called WMRRC, but we have no idea of what Susman's demands are. I am hoping Susman is able to take control, take WMI out of chapter 11 and pursue the criminals at warp speed for all of the claims previously discussed.
Beulah, it is referencing a short sqeeze which could potentially make a stock rise into the hundreds of dollars per share (for very short time period) based on how many naked/short illegal shares are outstandng. You have to understand the criminals had no plans for WaMu stock to EVER be in the money as they are still trying to cancel the equity shares through the chapter 11 process.
Knick, you are oorrect in that the EC is keeping the PJS valuation under tight lock and key, thus making Rosie's life untenable. He almost has to show the truth on the non Debtor Subsideraries, as he does not know what Susman has or does not have. This is why I think the "end game" is soon. If Rosie continues to lie, he will have bankruptcy fraud stamped on his now VERY wrinkled forehead. In order to get the D.S approved to move forward he has to show something and this something almost has to make A>L and once again if Rosie continues to show the negative, Susman will then prove bankruptcy fraud on the Debtors sparking even more excitement.
William, another great post and I was just discussing the "end game" this morning coming to the very conclusions that you have. The only reason your suggetion would not work and this worries me is the Judge would not enforce any of her own rulings and go ahead and approve the Disclosure Statment, thus letting Rosie continue with his voting scam.
Short of the Judge doing this and her recent actions are positive towards Equity, the timeline you describe seems to be spot on. You have to figure Rosie does not want to go to jail for these criminals and there is no way for him to know what Susman has, hence his whining on 3/21 about PJS. With that said, he almost HAS to show assets greater than liabilities with his amended, reformed, amended, discombotulated, confusing, illegal, non disclosing POS POR 6 3/4 but not POS POR 7...
William, thank you "take a walk on the wildside"...
Turning of the tide & Rosie becoming defenseless!
There is no doubt after attending the recent hearing on 3/21 that the tide is turning in favor of Equity. I have said after the 3/21 hearing that I thought there was NOT any doubt that this Judge would like to see Equity in the money. Now does that mean just preferred or all of Equity? This is the ten to fifty billion dollar question. One of the most important things to note is Rosie does NOT know what Susman and Company has. This is going to get very revealing because if I was hiding all of my eggs and claiming liabilities are greater than assets, one would really have to worry about what kind of eggs PJS found. This should be easy to find out what WaMu had before bankruptcy, especially with the likes of Iron Mountain, previous tax accountants, previously filed taxes and much more that could have been found current all the way up to the seizure date. Now if Susman shows even some of these assets that Rosie has been hiding, he then has bankruptcy fraud stamped on his forehead. This should bring on a multibillion dollar malpractice claim against Weasel/Gotcha and Mangle, claw back of all of the legal fees now approaching one hundred and thirty million and much, much more.
What will Rosie claim and how will he act at Monday’s hearing? This should be very telling, as these multiple crimes have to be wearing on him. I saw him close up on 3/21 and he is aging very fast, not to mention appears very nervous when anybody mentions anything about assets. I am normally a very good read of an individual, especially after seeing and learning how one acts. Rosie to me now seems rattled, frustrated and very concerned as opposed to say one year ago. There is a huge change which tells me he is not sleeping well and is getting attacked on multiple fronts that we do not see. Keep in mind, great lawyers are usually several steps ahead of the average opposition, so this should tell you that Rosie has to know where Susman is headed and he does not know what he can or cannot show. His real and only recourse is to come clean and let assets start showing greater than liabilities if he is to avoid much of his personal disaster which is now coming is way at warp speed. I say Rosie cannot be stupid enough to go down with the ship, but his window of time is very close to being closed permanently for him, his firm and close to one thousand other lawyers. Is he greedy enough to compromise the whole entity? I say no and if I am correct the equities will be moving north substantially VERY soon. I expect you will see some positive action in this regard tomorrow.
Keep in mind, the Judge has not even ruled on E&Y which is a surprise because she usually signs these kind of filings the very first day or so. Now Rosie has a lot of homework to do and he has to show assets are larger than liabilities if he is to avoid this personal disaster. I just love this because he just does NOT know what non Debtor entities Susman has or does not have. Keep in mind Rosie has worked very hard at making many of these go away but history, previous filings and Iron Mountain does NOT tell stories. Also it is very clear to me this Judge has given EVERYTHING to her bosses from the Government except WMRRC and the NOLs which she, IMHO wants equity to have. She probably does not know and does not care about the entire naked/short illegal shares and this works to our benefit immensely. So with this little company carved out with the NOLs, if Rosie does not act positively with Equity there is no way he can keep from losing control. This is his only way now and this time starts very soon and maybe some indication on 3/28. The Judge wants him to stay in control without any diubt, but he has to give Equity their share or risk total implosion and devastation. I am more positive about ALL of Equity being in the money more now than ever. I sense Rosie bleeding internally and about ready to explode from an aneurism!
No worries, I would have punched some holes in it if I thought it was warranted but most of ALL of your thoughts are the same as mine. Maybe a twin in another life...LOL
William48, your earlier and much more detailed post was ABSOLUTELY OUTSTANDING and I thank you for all of you D.D. and well articulated posts!!!
I was VERY impressed with the young lady lawyer for Blackhorse. She ate them alive!!!
Ilene, you are without any doubt, one of the BEST and thank you for all you have done and are doing! It was very nice to see you again. I have no doubts we are more than half way across and GAINING speed which also includes seeing a most impressive GREEN HORIZON!!!
Equity wins the day without any doubt!
Thanks billions to Bet, Ben, James, Ilene and others who made all the difference today and there is no doubt Equity is NOW a HUGE player. These are great people and Equity should be EXTREMELY PROUD they are on our team and believe it or not Seth helped a little too!
Rosie just is just as ugly as ever to the idea of A>L and our team along with TPS, Steinberg had Rosie’s group searching for papers and looking for information. This would truly make any true WaMu long smile from ear to ear. It was such a joy to watch them scurry and play defense. Believe it or not, they are not good at defense as their faces showed desperation. The Judge was very good today and she no doubt appears to really feel for the shareholders, as I do not think she could fake these actions this long. Ben Mason had her laughing today a couple of times and she listened and took notes intensely while he and other Shareholders were talking.
At the end of the day we were able to make the Debtors produce more value concerning liquidity information, real estate and this certainly bought more time for Susman to tighten the screws. This D.S. by NO MEANS was rubber stamped today. TPS was able to get a moderator and was given one week to come up with one or the Judge will. This devastated Rosie and Company and I took GREAT pleasure at watching his hair plugs pop out as I was sitting right behind him.
I would encourage anyone who has not attended a hearing and who has skin in the game to attend one if at all possible. Trust me by attending will give you another VERY valuable perspective on this case! I feel stronger than ever about equity being in the money after a HUGELY positive day for ALL WMI Shareholders!!!
Good morning Ilene, I have made contact and in discussion. Thank you.
Good morning Ilene, I have received your message and had the front desk geve her a message before I saw your PM. Is it to early this morning 0630 to call her?
Thank you and I think this could/should be a GOOD hearing with positive results. Remember, last June when Rosie was trying to tell the Judge they are working torward some kind of deal and Nelson was like we are not even close Judge! Then the night before that hearing they moved agenda items forward and the hearing was basically a bummer but still worth it.
Will be landing in Delaware in two hours and getting ready to see the Susman Team, Blackhorse and others make Rosies hair plugs pop out!!!
JuJu, I thinks if Susman has the evidence of a crime (insider trading) they have to show it on Monday so the Judge is cornered and cannot move this forward without being complicit. If Susman has this, then he can save all of the rest including valuation for the REAL POR from Equity. I still feel this Judge will do almost anything to keep Equity from being in the drivers seat, as she has been protecting ALL of the criminals with the exception of MAYBE the Hedgies. She knows once Equity is in charge, Katy bar the door-because Susman will have a direct beam on FDIC/JPM>
Fsshon, you arec corret and I doubt the public would actually believe this happened as they will just say say another Hollywood great. I totally agree that Susman would only show what he has to. I feel this is at such a delicate time and place in this case, they have to make sure with enough evidence that this Judge is cornered and does not let this move forward.
Fsshon, I think you are MUCH closer to the truth than NOT and I agree!
Fsshon, what are your thoughts for Monday? I feel if the Susman Team does not show anything related to a crime such as insider trading, then the D.S. will be approved. I am EXPECTING our team to show something VERY revealing (not all) as we cannot let that Judge get her pen even close to confirmation in May.
More than likely there will be a Chambers meeting before court and they agree on some things which IMHO would be very favorable to equity.I cannot believe the criminals will let financial information about a potential POR from Blackrock become open and public knowledge as the securities would skyrocket. I still look for some fireworks because the Judge cannot silence all of the Objectors or at least I hope not.
fsshon, I have no doubts TPG was paid off in another way such as "banks on the cheap" or in other dubious ways. The main action that TPG HAD to agree with is to say nothing, hear nothing and KNOW NOTHING. None of these criminals had any idea that equity COULD be in the money, even remotely!
WAMUQ appears to be HALTED on Fidelity!...ANYBODY?
Monica, I firmly believe that Susman will ONLY give up what he has to, to get the D.S. denied. I believe he will show valuation just on WMMRC and possibly some proof of insider trading on or before 3/21. He alluded to both of these and more on 3/9 and now he HAS to show PART of his hand as we do NOT want this to move on ot May 02, where it will be even easier for this Judge to sign off on this corruption.
I also believe if Rosie is forced to let the EC join in as opposed to Rosie loosing total control, then you may see this in an 8K filing as early as Friday evening. This would be deemed bad news for the criminals and they would not want this to come out on a Monday morning. So I would NOT be suprised to see something VERY POSITIVE for equity late Friday evening around 8:00pm to 11:00pm Eastern time.
William48, thank you VERY much for such an astute observation in light of all of this negativity that is going on now in world markets!!! If there ever was a positive indication that this Judge would like to see equity "in the money", then this would be IT.
It is also possible this Judge does NOT have any idea (or chooses not to have) in reference to all of the potential naked/short shares that have never been covered due to them knowing what 'WAS' suppose to happen (cancelled) at the end of chapter 11.
None of the criminals including Rosie could have ever discussed this naked/short share issue with the Judge due to what happened to WaMu are crimes. If the Judge wishes to see equity in the money, it would stand to reason she either does not care or does not want to know what the nagative consequences are for the criminals if equity stays GOLDEN!! This COULD be the EC's INVISIBLE ACE in the hole.
Actions that I always speak of-Here are two very important ones.
I always speak about one’s actions due to all of the corruption, fraud, favoritism and more. I do NOT believe anything that comes out of the mouths of the so called “power players” including the Judge, as I will judge and invest more/less due to actions of these people and not what they say.
A few weeks ago there was a lot of discussion about Ernst & Young being brought on board this case by Weasel, Gotcha & Mangle payable back to 1/20/2011. Normally anything Rosie puts in front of this Judge, she signs the same day or very quickly and to my knowledge, the Judge has NOT signed on to E & Y- nor should she. E & Y will not even back anything they say and want to use disclaimers for ALL of their work that they are not responsible, so why WOULD the Estate pay for any trash like this?
Then there was the motion Rosie brought to the Judge to allow him to give back 33 million dollars regarding the new stock that was to be issued for WMRRC on approval of this POR. The Judge NEVER signed on to this and then questioned Rosie at the last hearing, “did you think you did NOT have to have the Court’s approval to release these funds”, and he basically said no. There is no doubt this Judge had to be fuming as Rosie made the Judge look like a clueless, powerless and hopeless individual. Now whether she is working directly with Rosie or not, this had to make her livid and not to mention all of the new/old objections with powerful facts that this Judge has to act on.
With Blackstone, TPS, The EC and more cornering this Judge into making a decision on the FJR which puts A>L, decision on valuation that nobody from the Debtors will sign or back up, I do NOT see how this Judge in her most favorable/corrupt terms could possible sign this Disclosure Statement when she turned the POR down based on releases. This seems to be every bit as important or more.