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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.
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.