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This is Harry,
Caldwell Barry H Sold Some 7,980 Washington Mutual Inc (WAMUQ.OB) Shares.
By: Staff Writer
Mffais.com
Published: Friday, October 16, 2009
LONG BEACH, CA (Mffais.com) -- Caldwell Barry H Sold Some shares of Washington Mutual Inc (WAMUQ.OB). The number of shares affected was 7,980 which was a 0.00% change from the 314,344,565 number of shares. The ending number of shares of Washington Mutual Inc (WAMUQ.OB) owned by Caldwell Barry H at the time reported was 314,336,585, these transaction(s) occurred on/as-of 2009-10-15 but information regarding them was just made public today.
Caldwell Barry H was listed as an officer (Senior Vice President) of Washington Mutual Inc (WAMUQ.OB) during the time of the transaction(s).
During the preceding 12 months of this action Caldwell Barry H type of transactions of Washington Mutual Inc (WAMUQ.OB) Summarized:
Transactions: 2 Buying: 1 Buying Pct.: 50.00 % No Change: 0 No Change Pct.: 0.00 % Selling: 1 Selling Pct.: 50.00 %
Score: 3.00 Brand New: 0 Increase Existing: 1 No Change: 0 Sold Some: 1 Dumped All: 0 No Comparison: 0
Compared to only the 3 months prior of this transaction:
Transactions: 2 Buying: 1 Buying Pct.: 50.00 % No Change: 0 No Change Pct.: 0.00 % Selling: 1 Selling Pct.: 50.00 %
Score: 3.00 Brand New: 0 Increase Existing: 1 No Change: 0 Sold Some: 1 Dumped All: 0 No Comparison: 0
Diamond, it is not just interest on the 4 billion. It is also the money JPM made on the 4 billion which if you figured they made 5% percent during the last year; that would be another four billion. You have to figure JPM would load 4 billion out at least a 20 multiplier which would be 80 billion and then 5% of that figure so JPM owes WMI 4 Billion on the four billion alone so the total would be 8 billion. Big ass difference!
FSSHN, I have thought for a while now about another reason this is taking longer than what most people have thought and it has nothing to do with delays.
I have noticed for quite a while that LEHMQ trade in tandem with WAMUQ and that has had me thinking that the term "global Settlement" really means settling the Lehman Brother mess at the same time, thus making it much more complicated and time consuming
This also explains why a lot of people think WMI's legal team have been treating JPM with kid gloves by lifting sanctions and not pushing discovery. Your thoughts, FSSHN or anybody else with serious contribution intent.
Survior, yu are exactly correct. There is no middle ground here. It will all be settled at once and then swept under the rug. The only thing these corrupt people are worried about is their own "skin" and that is the only thing that will bring a settlement and no way will it be done half assed!
fsshon,
WMI legal must not want any kind of news as they have not said a word. This is Bondermans' style as he has never wanted publicity...good or bad. All one can surmise with this "kid glove approach" is they have already reached a deal with the larger part and it may take a couple of months to finish.
I think this would have been settled long ago but WMI is calling the shots and probably rebuffed JPM buying the rest of it, as they should.
Diamond,
I am getting concerned as to why WMI legal counsel keeps treating JPM with kid gloves. If this were the other way around, do you think for a minute JPM would have any consideration for anybody, anybody, anybody or anybody? WMI dropped sanctions and do not appear to be pursuing aggressively. I just hope the legal team, JPM and the Government are not all in bed together.
Everybody wants to talk settlement, but hell you can talk til the end of time. I am hoping WMI is in control as they should be and not JPM. There is no reason WMI should sell out entirely to JPM. I would demand cash/stock for what these corrupt bastards have done and either stay in business or put yourself on the auction block to the highest bidder and sell out to JPM's competition.
The last person I would sell out to is JPM and when you are in the catbird's seat as WMI is, this is the direction it should go. For a cash pile of 60 billion, WMI could get double the stock price when accepting somebody else's paper.
Crimial Investigation & Preferred Share Exchange For WMI Debentures.
Look on page 65 and this is where it shows in the billings. I would like the boards thoughts on the share exchange. A debenture is almost like a regular common share with nothing associated with it.
http://www.kccllc.net/documents/0812229/...
TPG/Bonderman NOW Owns a Bank!
Starwood, TPG Team Wins Corus Asset Auction
Published: Tuesday, 6 Oct 2009 | 5:39 AM ET Text Size By: Reuters
A group of investors led by Starwood Capital Group and private equity firm TPG have won the auction for assets of failed Corus Bank, in a deal that will see them invest about $554 million, a source familiar with the situation said on Tuesday.
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The Federal Deposit Insurance Corp (FDIC) is running the auction, which is being watched for its potential impact on the commercial real estate market. A deal is likely to be announced on Tuesday.
The consortium will have a stake of 40 percent in the assets; while the FDIC will hold the remaining 60 percent, the source said.
The consortium is led by Starwood, a real estate investment firm, and TPG, one of the world's largest private equity firms which has investments in firms such as Harrah's Entertainment.
The two will each have a 40 percent stake in the consortium's overall share of the assets.
The other members of the consortium are billionaire investor Wilbur Ross and Perry Capital, which have smaller stakes, the source said. The price values the assets of Corus at about $2.5 billion, the source said.
The condominium loans and other assets had a face value of roughly $5 billion but any deal had been expected to be at a significant discount to the assets.
Bids for the Corus assets were put in at noon on Sunday, said Ross, chairman and CEO of private equity firm WL Ross & Co, at the Reuters Restructuring Summit last week.
Ross, who founded his firm in 2000 and is known for distressed investing, said previously that the FDIC was offering financing for the deal, but declined to give any details about the terms.
Related Companies had also made an offer, a source previously told Reuters.
Sources previously told Reuters that other possible bidders for the Corus assets included private equity firm Lone Star Funds and real estate investment firm Colony Capital LLC.
Long controlled by the Glickman family, Chicago-based Corus Bank crumbled under the pressure of bad loans on commercial real estate and condominium developments in Arizona, southern California, southern Florida and Nevada.
On Sept. 11, the FDIC seized the bank, a unit of Corus Bankshares, [CORS 0.08 -0.006 (-6.98%) ] and sold its deposits to MB Financial, leaving the bulk of its assets to be sold later in a private placement.
TPG, formerly Texas Pacific Group, has been burnt in the past by one financial investment -- its investment in savings and loan company Washington Mutual was wiped out by a move in September 2008 by the U.S. government to close and sell WaMu's banking assets to JPMorgan Chase & Co [JPM 43.80 1.94 (+4.63%) ].
Slideshow: World's Best Banks
drrugby,
That would be a nice "end game" at hopefully $24.00 or more a share.
Chiron, I think ths "Project Sonic" will be huge as this goes back to March billings and normally when a company codes something it has to do with a huge (positive) undertaking.
WMI "Project Sonic" = End Game?
I would like to discuss what "Project Sonic" actually means as this in my opinion will prove if WMI is actually staying in business, keeping a viable namesake or selling out completely.
I believe with all of the DD since last year, proof of license/fee renewals in many states, discussion on keeping WMI name and trademarks and many other identifiers leads me to believe they will continue in possibly on line banking or other.
Project Sonic is the key to finding out what WMI's true agenda really is. I feel it will be huge as we also know Bonderman through his TPG fund has been trying to purchase seized banks.
drrug,
I think summary judgement is almost a "forgone conclusion" and I can not imagine JPM wanting this loss known around the world, even though it was never their money. I think JPM will walk in with a settlement before the Judge rules or they will get the date moved up another month or two if WMI is not ready for settlement.
fsshon,
I have believed since February that the four billion will never be turned over or a judicial decision made on it as I believe the four billion is tied to an over settlement.
If a settlement is near there will not be a judicial decision and conversly if a settlement is not at hand, then the Judge will find reason to push the four billion judgement off for another month or two.
Dude, this will never happen because of the "powers that be". There are only thee people who control about 90 percent of the communication worldwide and Rupert Murdock is one of them. They are all in the same little group with Dimon and a handfull of others.
TCH,
I lost feed and that was NOT the WAMU case, the Judge said WaMu is next and then silence.
TCH,
I lost feed and that was NOT the WAMU case, the Judge said WaMu is next and then silence.
Anybody Expecting An 8K Tonight?
I thought tonight or tomorrow night would be a good time for Judge Walrath to hand down the 4 billion turnover action plus penalties/interest; unless of course there is already another type of an agreement. The boards thoughts, please.
John,
I think the "Good Judge" will file an 8K on Thursday or Friday night advising on the four billion as she already has it written. She also knows the only thing that JPM has written and will write is 'bull' and she will finally use summary judgement for WMI.
The only thing that will change is if they are serious and make somekind of offer and they have already notified the Judge of this. In this case she will not rule on the money for a while, pending outcome.
Jest,
You are absolutely right, another good point and as I said these are just a couple of examples of the many billions of dollars just from JPM. I think WMI has spurned JPM as WMI will not let JPM buy the rest of them. WMI is demanding cash/stock and to reamin a viable entity to settling JPM's damage and I do not think JPM can afford it now as a separate entity.
Gold Nugget,
But you are forgetting one of many important wrongs JPM continues to violate which is patent/name (knowingly) infringment which has a mutiplier of 3 times the 6 billion in damages. FDIC is not at fault for JPM continuing to us a 100 year old namesake a make money on it.
Then you have the 4 billion which JPM has knowingly kept. You can not just figure a nominal interest rate. You have to figure how much JPM made of of this cash pile. It goes like this, JPM could loan the 4 billion out at a 20 times multiplier which means they loaned out and was making money on 80 billion. if they made 3% on 80 billion that would be 2.4 billion that would be recoverable under this illegal act and WMI laywers have cited just this methology.
And there are many, many more examples which goes into many more billions of dollars in damages from JPM, alone.
Fsshon, great information and I know she held the line on Rule 2004, but it seems she is letting JPM misrepresent the court, continue with the same ridiculous lame and same responses time and time again without any respect for the court, going over her head to another Judge and trying to make appeals in other courts on issues the Judge has not even ruled on. I guess we want answers and decisions made and this constant badgering with no new eveidence is nothing more than frauding the court and estate.
When the Judge mentioned she might rule on the four billion in June and did not and still hasn't, that has kind of tested some of us.
Fsson, I would also like to know what you think of this question, why not depose J.D. first since this is unlimited discovery and call him later as well? J.D. could not answer one of WMI questions without perjuring himself. It would seem to me this would end much of JPM's trash.
Diamond, I am pre and post seizure and have WAMUQ averaged at 5 cents and a ton of it. It is one thing to be careful so to get 'it' right, but all the sleaze and delays JPM is throwing out, the Good Judge has not even as much as cautioned JPM. If she has, I am sorry I missed it.
Abighammer, are you not confused? This is JPM/FDIC who own the world and everybopdy owes them their life. You BAD, BAD and BAD for questioning GOD or JPM (any difference?). Of course just being facetious.
SF,
You and I are on the same page as I agree there is no way in hell WMI is settling with JPM by a total merger. This will never happen or this deal would have been done a long time ago.The valuation is the easy part, WMI wants to stay in business either whole or at least in name and the filings point to just that. JPM wanted WMI out of business as much as it wanted the whole company so it could pay lower interest rates, raise fees, and put a total screw job to customers and employees alike...now this is what JPM really wanted.
WMI has renewed licensure fees, tradmark names and have paid various filing fees in all of the states that they operated in the past. The hold up on settlement is JPM DOES NOT want WMI in any form of business, but JPM will lose.
I can not understand why so many people think JPM has the upper hand and why WMI would even consider a total merger. This would be insane and a terrible outcome for the estate considering the hand WMI holds. The deal JPM could have recieved in a total merger would have happened in December of 08, but that train left and WILL NOT return.
Tatsu,
Of the seven billion you refer to; that was the total including the China connection and TPG part was only two billion so the China connection is five billion.
When you figure in TPG's (Bonderman) part use their total of two billion.
Viva,
Large Green will be in Las Vegas as Large Green will enjoy playing with SOME Large Green!
If this deal is not done this holiday weekend it will create another GREAT buying opportunity on Tuesday-Thursday following the holiday as WAMUQ will probably come down quite bit. Keep some AMO.
Pascal,
Has there ever been a solvent bank; one of the largest in the world ever seized illegally? If your answer is no, then you can answer your own question of "has any stock ever gained 80,000 percent"?
John,
Weil, Gotschall and Manges is the same firm handling LEHMQ, so my guess is they are speculating on that as well as other issues that are the same. Imaging,where ever there is corruption, illegal activites a lot of money, there is JPM leading the saga.
Biz, I do not believe they have any authority to sell anything other than the banks which does not include their name "WaMu" or trademarks. If that was the case what would keep them from taking your car, house or for that matter your wife (if you have one)?
SF, I do not think most people realize, WMI does not want to be merged with JPM. Let's face it, if JPM gave WMI $24.00 a share, WMI would cease to exist.
Now if WMI can get $24.00 in cash/stock to settle with what they have already stolen, (should be easy now) WMI can sell themselves to another entity (GS,MS,C) they could demand double ($48.00) as the entity would be paying in stock so that would be the premium for the cash pile and stock depreciation.
Diamond, I would think you would NOT pull sanctions unless it WAS signed sealed and delivered as JPM has already made a fool out of WMI by filing that adversary claim in the middle of negotiations.
It would seem to me you would not leave another opening for these bastards to pull more court room antics, since they have not even been chastized for their behavior to date. I understand why the Judge may be giving them flexibility, but when you out right lie, deceive the court and make total misrepresentations, I would think something would have been leveled by now.
Royal,
I think it is possible for WMI to want a small leak such as not redacting the filings. They know we are watching and it would not look so bad to the public if WAMUQ runs to a couple of dollars before a $25.00-$30.00 dollar settlement.
Fsshon,
Great post as your norm, I have been following all along as I am pre and post seizure. I agree with you 100% percent about Bonderman and company. All one has to do is Google him and learn about his education and that is a 'tell all" in refernce to this case.
The reason he has been so quiet as he already knows the out come based on his education/experience. When he started the behind the scenes recovery, he knew it wuld probably take 1-2 years so he has no reason to run his mouth, but to make these bastards pay through action. This is exactly what we are seeing, his action.
Supr,
Greed always destroys! I would be willing to bet JPM could have setted this for $10.00 per common share but that train left the station in December 31, 08; however it will now cost a minimum of $25.00 a common share and if the pay by JPM stock the value will be double in JPM stock as there stock could slide 30-60 percent with the announcement.
I posted this on Yahoo but due to all of the facts we know and have found out since September of 08; WMI is in a position of total strength ans is calling all of the shots now.
I will not lay out all of the fact now but I have been in the camp all along JPM can not turn any information over as they could (unknowingly) turn something over to 'forever' damage JPM's corporation. So with Congress leaving town for three weeks, I believe this Friday or Monday would be the time for settement. By the time Congress comes back there will be bigger fish to fry.
Jeff,
I believe it has to do with "future business" dealings with the law firm. You can win a lawsuit with dignity and lose with dignity. The law firm is whipping JPM badly and they do not want to embarrass them to bad as JPM would probably hire them in the future if they handle themselves with professionalism and sound judgement.
Abighammer,
I already have enough that will truly change my life, but I will take another large stake this week unless it settles. This is a once in a lifetime opportunity that should of never happened so I will load, load and reload till that infamous 8K is released giving us the news that Diamond was a little short in his $12.00 plus a share as it will be $24.00 plus a share. JPM missed the $12.00 a share settlement when the Christmas 2008 train left the station.
freemarket, you are totally correct. There is no way a top notch legal firm would answer an email in that manner.
Diamond, Hey man I am with you all the way but I think your $12.00 a share would be a total steal for JPM and a screw job for WMI shareholders.
You would be in the ballpark with $24.00 plus per share. Your $12.00 per share left on the Christmas 2008 train and it is not coming back.
FSShon,
This will be forever life changing for me and I can tell it probably be for you as well. I just want to take a moment to thank all of the great people who do wonderful DD and you certainly know who you are such as FSShon.
I agree in terms of time, we are very close, just maybe not this weekend and if no settlement this weekend, I think Monday-Thursday will creat another superb buying opportunity for WAMUQ between seven and eights cents a share.