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Can Nate Thoma participate in the depositions?
How about let's hang on to those releases and sue JPM and the FDIC in DC for what was "wrongfully" seized plus damages if "foul play" can be proven? Susman, evidently, is fabulous at trying a case in a jury trial. Obviously, this is where the huge and much deserved payout would be. We've come this far, if no fair and reasonable settlement is offered, I'm for holding on until we get what's rightfully ours.
I sure hope Susman/EC are sending that message to our adversaries loud and clear. It appears that may be happening.
Would you rather take a $8-$10 settlement next week or wait for a really big (an deserved) potential payout in DC? Possibly the 2 X value plus that diamondguru-one has mentioned.
IT + PJS valuation + releases + Susman = ? I'm thinking diamondguru may be pretty close to the minimum if this goes to DC. JMHO
"let them take all the time they need to get it right". Absolutely.
Memo to EC/Susman: In your settlement negotiations with JPM, please factor in the "windfall" profits they've made off WAMU since the seizure. If you "have the goods" that there was some "hanky-panky" going on, how about a refund on those profits? That would be billions and billions to deprived shareholders.
If Susman's character and integrity is what I believe it to be, that's another enormous plus equity has going for it. There's a lot of, potentially influential, power and money on the other side.
Who's going to stop them? Maybe Stephen D. Susman is having an impact. The closest thing to a "revolt" in this regard that I've seen is the Washington Mutual shareholders activism challenging the WAMU seizure and subsequent bankruptcy proceedings.
boarddork, please fill me in on what "post petition" means.
Memo to EC/Susman: Please no deal unless JPM and the FDIC pay dearly.
If you got the goods on them, MAKE EM PAY, BIGTIME! Why should there be any concessions? Consequences of a jury trial up against Susman? How does treble damages and a lot of tarnished reputations sound?
boarddork, that post makes realize more than I ever have, the potential claims Susman has to work with. What was the context of Justin Nelson's "$30 billion" reference?
I sure hope Susman is holding firm on that.
Look at this crap! JP Morgan Chase buying back stock.
http://www.bloomberg.com/news/2011-06-02/dimon-says-jpmorgan-chase-buying-back-stock-at-faster-pace-than-announced.html?cmpid=yhoo
Actually, this might be to our advantage if there's a stock swap with JPM.
Don't underestimate what this is inferring. "Shareholders will also have the benefit of a $30 million trust set up to seek recovery from other parties involved in the collapse of Washington Mutual."
Looks like you can add Stephen D. Susman to that list. Cheers!
What we "Truly Deserve" vs. what is acceptable in a "Settlement". That is a monumental decision that EC/SG are faced with. I understand the compromise factor, however, I still hope what we "Truly Deserve" weighs heavily in EC/SG's settlement negotiation posture and demands.
Just hope there's not irrational exuberance here. Another hope is that EC/SG hold out to get what shareholders truly deserve in a settlement.
I sincerely hope that EC and SG have all these factors firmly in mind as they determine what they will accept in this settlement. Also, a bona fide assets valuation MUST be a critical determining factor in their acceptable settlement decision. If the adversaries don't comply, would they prefer taking on Susman in a jury trial and other, potentially, damaging litigation?
Large Green, you posted, "diamond, the problem is there is anywhere from 1-3 billion illegal shares out there". Is this a guesstimate or is this fact? How can this be known, for sure?
"pleasant surprise" = diamondguru-one's 2Xs value plus ? Wonder if Dr. A would be OK with that figure.
It better be a bundle.
diamondguru, considering the settlement compromise factor, does the $16-$17 range seem "fair and reasonable" to you?
I got the 2xs value part figured out. What about the "plus"?
diamondguru, are you talking the $16-$17 range?
Are these big buys institutional buys?
$1.00 to $1.50 coming soon? How can WAMUQ not reach at least the $1.00 to $1.50 range in the not too distant future? Too me, that's minimal with the settlement talk. Pretty good speculative play at around .12, I'd say. JMHO.
How can WAMUQ not reach at least the $1.00 to $1.50 range in the not too distant future? Too me, that's minimal with the settlement talk. Pretty good speculative play at around .12, I'd say. JMHO.
mehedi, great time to get in tomorrow, as you probably have figured out. JMHO One way or the other, it is nice to have you back as a contributor of analysis.
Will Walrath ever "call out" Rosen for his possible shenanigans? Even claw backs, possibly? What are the chances?
yep, I agree. That line of reasoning could be starting to show already. Makes a lot of sense to me.
Very good observation. I have a feeling something along those lines may evolve over the Memorial Day weekend. Anybody else have that feeling?
Where's the resistance?
Can we run through .12 today and hold?
Absolutely, nothing is official until Susman says so and Walrath approves. Take what Rosen says with a "grain of salt".
Maybe Gibson and/or Bet need to talk with Susman instead of me. They seem more concerned about Susman (and Willingham) than me. At least for the time being.
Thanks diamondguru-one, very interesting perspective on our potential.
How does the WAMUQ leverage, right now, compare to the Bear Stearns leverage?
Looks more like around .11 for a close now. Wish it would drop back under .09 in the next few days, I'd like to pick up a few more shares in that range.
I'm thinking around .12 for the close. Which wouldn't be too shabby for today.
Did CNBC report anything regarding Friday's news? Wonder if they'll say anything tomorrow if we get a nice run up.