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That is to low with what we know now! JPM could buy us with WMI's own money if they are allowed to profit with our money and no penalty for getting caught. This is now $75.00 a common share! Wake up and figure out what they stole, the money they have made off out money in 18 months and much, much more.
fsshon, always love your DD and legal thoughts and facts. Most of these people are just wasting your time but at least you are giving people who want the facts...the FACTS. Keep up the great work as it is "ALMOST OUR TIME"!!!
Large Green loves LARGE stock price!!!
Why do you think JPM STOLE the bank, because their bank had the MONEY!!!
Fsshon, I have said here and on Y for the last 12-15 months that the Judge will never rule on the 4 billion and so far I have been right.
JPM/FDIC have made such a big deal out of the money when there was really no issue to begin with; that by the Judge making a ruling for WMI could make JPM stock plunge ten to 20 dollars. Money Managers will see they lied about the 4 billion and will sell their stock in heart beat, assuming they lied about the rest. They will not continue to take a chance with JPM stock.
So now we are at a crossroads, the last weekend before the 4th of March and I would think JPM/FDIC would want to announce this mess on a Thursday night (imagine a little Carma) so they can get the news out on a Friday, only to never hear of it again (or very little) so when Monday morning comes this is old news/buried.
Our fine UST saved equity from tragedy, as I have no doubts Rosen was planning on announcing this mess over XMAS-2009 or New Years-2009, without equity and to the beauty of that beholder his plan was DESTROYED.
Slyone, I will challenge you to prove JPM paid anything for WMI. I will wager you can find any proof to prove JPM actually paid what was said they paid. With all of this collusion, JPM did not pay one red cent for this travesty....YET.
fsshon, this is your quote.
NITE is shorting, maybe they are going to buy all the shares from the employees "off market." JPM we already have a buyer for the shares, just sign here....A created mess by JPM that could allow NITE to cover his shorts quietly!
I highly doubt WMI employees who have shares in their 401K is enough to put a pimple on the elephant's ass, so to speak.
If there is any truth to being 700 to over 1 billion EXTRA/SHORT shares over the recorded total of 1.7 billion, then their shares will do nothing for JPM's short position. Just my thoughts.
Here are some more thoughts. I have said for the last 15 months or so THE GOOD Judge will never rule on the 4 billion, due to the devastation it will have on JPM. People who control large amounts of JPM shares would then dump JPM shares thinking "if JPM lied about the 4 billion...what else are they lying about"?
Obviously, if they do not settle she will have to rule at some point and I think March 4th is the date after listening to the last hearing. I do believe it is possible this thing could be settled this Thurs/Fri as the timing of the settlement is very important to FDIC/JPM. Announce on Thurs/Fri and then on following Monday this is old news not to be reported on again or at least very little reporting.
Diamond, I have said for the last 15 months that the Judge will never rule on the 4 billion and so far I have been right. Now that leads me to a potential conclusion, that the Judge has basically told the FDIC/JPM that the money is WMI's and she is going to rule March 4th.
I do not think the Judge will change her mind AGAIN (loses credibility) unless there are major changes. I have also said the timing of the settlement announcement and when it is, is just as important to the CRIMINALS as the price of shares is to us. After the Judge signed the confidentiality aggreements, I agree this is HUGE!!!
All of this leads me to a conclusion theat a settlement COULD be announced this Thursday/Friday time frame to allow for the market to have issue to it before they take it off of the news on the following Monday morning, not to be heard (very little anyway) from again.
Weil is practicing nothing other than what is commonly called Bankruptcy Faud, by doing eveything in it' power to hide WMI assets!!!
VERY DESTRUCTIVE AGAINST JPM
http://www.thestreet.com/stock-market-ne...
Hers is a 13G from TOSCA
Form SC 13G/A WASHINGTON MUTUAL, INC Filed by: Toscafund Asset Management LLPBY 10K Wizard
— 4:59 PM ET 02/10/2010
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=6748623
Filed on: February 10, 2010
More WAMUQ News
JPM, Santander heads discussed US bank bids-report
Reuters - 10:27 PM ET 02/05/2010
Bank failures to keep rising in 2010
MarketWatch - 04:54 PM ET 02/05/2010
Bank failures to keep rising in 2010
MarketWatch - 03:42 PM ET 02/05/2010
Do not trust those crooked Politicians, as she never said a word and the only reason she is now riding somebody's coat tail is she wants to get re-elected.
JPM & Bank Santander Colluding!
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JPM, Santander heads discussed US bank bids-reportBY Reuters
— 10:27 PM ET 02/05/2010
* Dimon, Botin met, discussed bank bids -TheStreet.com
* JPM e-mail detailed executive opinions -report
NEW YORK, Feb 5 (Reuters) - JPMorgan Chase & Co (JPM) Chief Executive Officer Jamie Dimon and the chairman of Spain's Banco Santander SA (SIBEX:SAN), Emilio Botin, met in 2008 and discussed bidding on U.S. banks, according to TheStreet.com.
TheStreet.com posted what it said was an internal JPMorgan (JPM) email, dated June 5, 2008, from investment banker Jose Cerezo to colleagues. It recounted the Dimon-Botin meeting, and may draw antitrust scrutiny, TheStreet.com said.
According to the email, posted on TheStreet.com on Feb. 4, JPMorgan (JPM) and Santander discussed the possibilities of bidding on banks including SunTrust Banks Inc (STI), PNC Financial Services Group Inc (PNC), Washington Mutual Inc (WAMUQ) and Wachovia .
The two men agreed that Santander could not compete on price if JPMorgan (JPM) made an offer, and so Santander would not bid if JPMorgan (JPM) were interested, the email said.
Santander would probably hire JPMorgan (JPM) as an adviser if JPMorgan (JPM) was not going after the deals, according to the email, which came to light in recent litigation, TheStreet.com said.
JPMorgan Santander and the U.S. Department of Justice were not immediately available for comment.
Botin suggested jointly pursuing opportunities including Wachovia Corp and asked Dimon why he had not bid for WaMu, according to the email.
Dimon and Botin both expressed interest in buying Citigroup Inc's (C) Mexican banking unit Banamex. Santander said it had tried to buy Citigroup (C) but it was "not for sale", according to the email.
Botin said that Royal Bank of Scotland Group Plc (RBS) did not have a strong enough financial position when it went after ABN Amro, according to the email. (Reporting by Clare Baldwin in New York; Editing by Gary Hill)
Johnny, welcome back and where have you been? I have missed your educational responses and if you would not have come back, I probably would have purchased more WMI securities. You saved me a lot of money.
When you were doing your last educational series, I made sure I sold all 500,000 WAMUQ's, 10,000 WAMPQ's because you are SO SMART.
Thanks so much for showing up again with all of your education as I would have probably bought so much more. LOL!!!
Penny, my guess the total settlement has to be at least 70 billion because our legal team has proof to prove RICCO charges even though they were suing for "improper value" to begin with. Though discovery there is proof of RICCO and I am down to three remaining posts as I have been fined by IHUB.
Diamond, there would not be a problem with the short/NSS if JPM were able to purchase WMI in it's entirety, but if I had anything to say about it, JPM would be the last entity that would get WMI.
It would be a massive disservice to the WMI shareholders to let this happen. If WMI does not want to stay in business, then they should settle with JPM and put themselves up for sale via the bankruptcy process to the HIGHEST bidder after all bids have been looked at in a PROPER venue.
If WMI stays in business or sell themselves through a bid process then all of these shorts/NSS ARE a HUGE problem for JPM; or am I missing something...Please elaborate and welcome back.
Yanik, I would not put much stock in her B.S as this is the first thing she has said in 16 months. Give me a break she is nothing more than a prostitute with a fancy title.
Anybody worth their stock would have stood by a 110 year old corporation with 65 thousand employees and many smaller companies counting on their existence to survive and she waits 16 months to say anything. She should be put in jail for failure of her fiduciary responsibilities to her own constituents.
Fsshon, welcome back as I have been there too (IHUB Jail) and the board has not been the same with out you and Diamond. I still only get five posts a day under penalty and confirmation at the IHUB trial.
My thoughts are the final outcome is any day now and I mean that sooner than later or this thing will blow up and make Watergate look like pimple on an elephants ass.
HERE IS OUR FRIEND!!
http://www.rallymonkey.com/oldvideo.php
Mordicai, I have felt before the Judge ruled that at some point she might call for the EC. I have been very concerned that NOBODY was asking where the subs were, the value of the subs, the 3.1.A with what was transferred and many other examples that have not happened or was put on the A/L list.
This also made me wonder why the Judge never demaned the 200 billion dollar question, where is the list of what was tranferred? My God, even after you eat at McDonalds you get a receipt!!!
In my opinion, after 16 months and no factual A/L list; this is nothing but bankruptcy fraud at it's highest to destroy equity, happening right under the nose of the Judge.
Diamond, do you think the EC's rebuttal to disband the EC will ever get filed? I would think JPM/FDIC would be afraid for the true assets to get out in public but in order to prevent that JPM/FDIC would have to make a deal to prevent this filing (which is due on the 21st of Jan.) from becoming public till they can announce a deal, pssible by then end of this month.
Diamond, your response to this post, please.
When the EC's response to Weil if filed (deadline is 1/21), I would expect a very solid and tart response in reference to the EC being disband.
I would expect many assets that we know and have discussed so much such as tax refunds, NOL's, claw-back, cash on hand, cash JPM owes as WMI prepaid taxes and many other facts showing how much the holding company is really worth.
I would think there will be so much here that the thought of dis-banning the EC would be just more fraud taking place and I do not think there is any way that will happen.
If there are many people who agree with what I have just stated, then my thought would be once somebody from Wall Street hears WMI is solvent; I would think this could be/would be the start of a MASSIVE SHORT SQUEEZE.
Knick, I think when we see our EC's legal team's response (I think on the 1/21) we will know how strong our team is going to be with their rebuttal to Weil on the disbanning of our EC.
I believe it will be very strong due to the keen knowledge our members have learned over the last 15 months. Keep in mind it was our people that gave Weil much knowledge.
If our team is as strong as I thing it will be by showing assets much greater that liabilities, this should take "The Street" by storm and scare the hell out of the short/naked shares that have not covered, thus sharping skyrocketing all equities.
oil,
I have been wondering this for sometime. When EC's legal releases their rebuttal (I think on 1/21) to JPM referencing disbanding of EC, I would think it will be more accurate with assets greatly exceeding liabilities.
Therefore the MASSIVE SHORT SQEEZE begins unless they can do something to trick the EC into screwing equity somehow.
Once sombody on the street finds out WAMUQ assets are greater, I would think word woud spread like wildfire and skyrocket the prices on all equities.
Cash, no problem as I am always open for good conversation that discussed both side of the issue. How could anybody that has a half a brain not look a both sides of the coin to make an educated decision about investing in WMI.
This is the best play that I have ever seen in my life, barring more fraud which I think was discoverd before Weil could make toast of our commons. WMI was very solvent before so how could that change? It should be worth even more now because they have been caught red handed.
I think someone very IMPORTANT (can you say deepthroat?) who tipped the US Trustee off about Weil getting ready to make an past Holiday announcement that would not have inluded common, totally screwing equity.
I think Weil made a deal with JPM for future business to let JPM off the hook for all of the naked short shares, regular shorting and all of the illegal spamming of WMi stock to cancel the shares and issue new shares. There is no doubt the assets are far greater than liabilities, hell just look at about 100 subsideraries that has not even been discussed not to mention another 10 billion that has to comeback to WMI through the chapter 11 avoidance powers. We should be GOLDEN.
Cash, far be it for me being a traitor in WMI as I am pre and post holder of equities. Once I realized the scope of the seizure which took only a day or so (I purchased 1 day before seizure) after seizure, I realized this is the best thing that happened to me. I knew this would come to a head in a couple of years, so I have been purchasing all along.
You need to reread my post as I believe you misinterpeted it.
fsshn, I am sitting on the WaMu train in the caboose, keeping an eye out for traitors that may want to derail us again.
All one needs to wear is a rubber band on their left or right wrist when attending WMI hearing.
thepennyguy, I am afraid I have to agree with you. I was worried all along because I was afraid they would try to cancel equity...just because they can. I thank the God for who actually got that US Trustee to "bust a move" as there is nor doubt in my mind (due to Rosen's actions) that they had a deal without equity and were going to announce it on Xmas Eve or New Year's Eve, as both Holidays were on weekend. That would have been the worst Xmas gift anybody would have received.
By the way, I always look forward to reading fish's posts.
Yea, Joyce is truly a savior. I wonder who actually got the US Trustee to finally come to WMI/equity's rescue? I am wondering if our Good Judge could have asked the US Trustee to look into it as Judge Mary knows this case will make history and she wants to be on the quality side or possibly an insider from the legal team who was not happy with being forced to do the wrong thing by canceling equity. This settlement will make bankruptcy history when it is finally announced and I think there are still some people who care about what is right...at least I hope so.
Liabilities/Assets...Why are All of them Not Listed?
I know early on in WMI's chapter 11 (October,2008) that it may have been important to show WMI insolvent, at least the way Bopfan explained it. What difference does it make at this time that WMI be shown insolvent? They were very clearly made insolvent by losing the main part of their business so what is the point after sixteen months?
I would like to know why we have not been shown the truth as to what WMI really owns and why hasn't the Judge even questioned this? It is very obvious our own legal team has been manipulating the price of the stock by continuing to claim liabilities > than assets.
I think we found out why our legal team was trying to do this as to zero out our own shareholders and claim billions of dollars for a very small group of SPECIAL corrupt individuals.
How can the legal team continue to keep misrepresenting WMI's true assets like all of the subs, numerous pieces of property, Providian and tons of other assets? The asset side of the balance sheet has been cherry picked as to only show certain assets and I do not want to be a "negative Ned" but with all of this fraud going on around us, could someone possibly explain how the legal team can get away with not even discussing what WMI truly owns?
That would let JPM off the hook (creating new CUSSIP #'s) for creating all of the extra shares and massive shorting. There needs to be a MASSIVE SHORT SQUEEZE requiring them to cover all of those naked shorts they created and normal shorting of shares. They created this massive fraud and they shoud have to pay.
WMI Legal Team in Bed With JPM Legal Team?
It is looking more and more like our legal team crawled in bed with JPM to cancel WAMUQ..
When one realizes there are 1.7 billion common shares outstanding and when you figure in the naked short selling, regular short selling and JPM's affiliates all downgrading WMI to ensure it didn't survive is very telling. There could be as many as 3-4 billion common shares outstanding which would have prevented a very large problem for JPM if the common stock came back to life. Can you say MASSIVE SHORT SQUEEZE?
Here is what I think happened after listening to that Omnibus hearing on the phone in December when the US Trustee proposes his emergency EC. There is no question in my mind the way Rosen conducted himself that there was something far larger going on with him and the US Trustee. Such as WMI legal team already came to an agreement with JPM to cancel the common shares to let them off of the hook and announce the settlement around XMAS or New Years Day Holiday since both of these were on weekends-an ideal time.
With the very recent law change that most people did not predict, it put WMI's legal team in a precarious position by assets becoming more than liabilities-a big problem trying to cancel common shares. What to do with this character popping up at the last minute, demanding an equity Committee-how dare him.
So now they have to go back to the drawing table and worry about this massive short squeeze if common stays green. What to do-What to do?
Going back and watching, listening and paying attention to ones actions tells me our beloved common stock WAS toast-not anymore and than God to Joyce and others. Just a pre and post holder of WaMu.
John, I have thought for a long time there is so much money here that when it is released there will not be a problem on anybody's part, but then again I do not trust anybody when it comes to this kind of money.
The EC could be a mute point and I know the legal team can not divulge anything, but I am very happy with the EC. It would be to easy for them to zero us out and I do not want to take that chance.
REUTERS on WMI,
WaMu shareholders form official bankruptcy groupBY Reuters
— 10:00 PM ET 01/11/2010
* Formed at request of U.S. Trustee
* WaMu asks court to disband panel
By Tom Hals
WILMINGTON, Del., Jan 11 (Reuters) - Shareholders of Washington Mutual Inc formed an official committee on Monday to represent them in the bankruptcy of the bank holding company, according to court documents.
The committee was formed at the request of the U.S. Trustee and it comes as Seattle-based Washington Mutual (WAMUQ) is nearing what is likely the final months of its bankruptcy.
The formation of a committee usually occurs at the beginning of a bankruptcy. Equity committees have been rare in bankruptcies during the current economic downturn as companies have tended to be insolvent and weighed down with secured debt, leaving no hope of recovery for shareholders.
Washington Mutual (WAMUQ), which filed for bankruptcy in September 2008, immediately requested the court disband the panel, according to court documents.
"The debtors are baffled as to why the U.S. Trustee, at this late date, would choose to saddle these estates with another committee and, presumably, professionals that will needlessly incur significant fees and expenses," the company said in court papers.
The Wilmington, Delaware, meeting of shareholders was hosted by the U.S. Trustee and drew about two dozen mostly retail investors from across the country. Individual investors have been actively following the case and pressing for official recognition through informal groups.
One group has been led by Joyce Presnall, who will sit on the official committee along with other individual investors and Esopus Creek Value, a Short Hills, New Jersey, hedge fund that is active in distressed companies.
Washington Mutual (WAMUQ) shares rallied recently after the company said it may receive an additional tax refund of up to $2.6 billion, increasing the likelihood of some recovery for equity holders.
The committee will be represented by firms Venable and Benesch, Friedlander, Coplan & Aronof.
The company's common shares fell 3.7 percent to 18.2 cents while its preferred shares rose 10.6 percent to $82.35.
The case is In re Washington Mutual Inc (WAMUQ), U.S. Bankruptcy Court, District of Delaware, No. 08-12229. (Editing by Gary Hill)
Copyright © Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.
fsshon, good to hear from you again. I think there may be a court filing or 8K this evening regarding the EC due due the exgigent circumstances as said by the US Trustee in December. What are your thoughts? If it was that important, I do not think the US Trustee will even waste a day getting it filed.
Diamond, I was watching CNBC about six months ago when a guest mentioned WaMu and wanted to talk about WaMu; they went to a commercial immediately and the guest was GONE when they came back from break...hell, CNBC is scared to death about WMI, especially after they have been watching the court records and wondering when their supoena is coming...they would never mention WMI at this point and unless somebody provides a link, I would not believe it...only one more post tonight.
fsshn, I absolutely second your post about Mordacai representing our EC. Only one more post today. What happened to our friends L and JW?
Mordicai, thank you for the excellent reply and always appreciate your professional DD. Have a great evening and a wonderful and safe NEW YEAR!!!
fsshn, great reply and one has to love your posts. Let me ask you, when this information comes back; I am sure a lot of this is information is criminal that the legal team has or will have and since JPM has done nothing to prevent this yet, what do you think will happen to this information? As with any bank robbery or criminal action, they start arresting people. Do you think they will arrest a couple of smaller Managers and call it a day or assuming JPM settles soon or after sttlement will they just sweep it all under the rug? To me it is already to late to sweep und the rug. I fully believe the only high up person they will nail will be Bair and they will let Paulson, Dimon and a couple other one go free. What are your thoughts?
I only have two posts a day so I could not reply yesterday and I know you can understand IHUB jail.