Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Yes lodas ! And this is what Alice try to find out. Where's the "sausage" and who want to eat it without us ?
Yes ! If FDIC sold $30 Billion WAMU related assets for only $1.88 B to JPM, then it would be (minimum) an immoral contract, if not even a planned crime !
Especially I like Alice statement in page 5:
"There is approximately $14 billion in the FDIC’s waterfall and therefore the FDIC has no interest in any recovery in excess of that amount."
Yes ! I thank AZ really very much for his work, but I am really not sure if we still will have ESCROWs in our depots after the end of the BK. How shall that work, if Escrows are cancelled ?
YES BBANBOB ! After reading her (Alice) latest filing NOW (!) I've the same feeling ! SHE is the only one which is STILL FIGHTING for us (EQUITY) !
All the other theories are just speculation. But what she fights for REAL !
J.P. Morgan said it would not be acquiring any assets or liabilities of the bank's holding company.
HM
Where's the documents for this litigation? You don't post any because WMI never sued the FDIC for $307B.
wowalters: Scientific Accounting is extremely accurate. Dr A's $86B belongs ALL to commons. Bonds and preferred's will have already been paid with interest after the Chapter 11 bankruptcies have been closed.
You could be right !
Why not EQUITY too ... will find an (un)expected $30 BILLION (or more) bonus ! Christmas is THE time for surprises !
$6,311,630.68 in fees for EXAMINER !
But at least we've the following statement:
Akin and Gump are discussing the scope of what the Examiner can examine and what he cannot examine:
"We also have in there the part (b) of what is to be retained, and that is because in negotiations that we had with all of the settling parties, with the equity committee last week, with the FDIC, we did talk a great deal about the concept of the retained assets! Now, it's my position, Your Honor, that the examiner doesn't need to know much with the retained assets other than say the assets are retained and therefore the liquidating trust can go ahead and pursue them. They will still be there; they can be carried through. But I understand that the equity committee is very interested in having a neutral third party do an investigation of those retained assets."
But in this case the seller had (for the owners) the task to check the house for possible hidden values BEFORE the sale?
And everybody told them, that there are minimum $30 BILLION inside the 'house' !
What you're saying is ridiculous!
And later JPM found the $30 billion 'unexpected bonus' !
It is SO SIMPLE to be FAIR & REASONABLE !
JPMorgan shall give us back the $30 billion 'unexpected bonus' they found in the remains of Washington Mutual, because it belongs to US and NOT JPM !
LINK
Wouldn't it have been WMILT's job to find these $30 billion ?
JPM found these $30 billion only some WEEKS (!) after the BK in September 2008 !
So it must be very easy to find them !
worker
It's very easy ! If all the people here don't get the proposed "FAIR & REASONABLE" then this case will never ever end ! So I'm sure and I hope that THEY know that and make the right decisions at the end of this case ! Otherwise new problems (for them) are pre-programmed !
"Everyone has ALREADY received fair and reasonable, it's called Coop."
WHERE ? ...on Mars ?
WHY NOT ! Anything is possible ! JPM has also found only a few days after the purchase unexpected 30 billion dollars
THEY (assets) WILL STILL BE THERE....The legal group Akin and Gump are discussing the scope of what the Examiner can examine and what he cannot examine. We also have in there the part (b) of what is to be retained, and that is because in negotiations that we had with all of the settling parties, with the equity committee last week, with the FDIC, we did talk a great deal about the concept of the RETAINED ASSETS.
Now, it's my position, Your Honor, that the examiner doesn't need to know much with the RETAINED ASSETS other than say the ASSETS ARE RETAINED and therefore the liquidating trust can go ahead and pursue them. They will still be there; THEY CAN CARRIED THROUGH. But I understand that the equity committee is very interested in having a neutral third party do an investigation of those retained assets.
That's easy HOTMEAT. We all (except you) are still waiting for the documented "FAIR and REASONABLE" compensation, which hasn't happened yet.
What don't you understand ?
worker
but ZEUS .... according to the documents the ESCROW holders shall get a "FAIR and REASONABLE" compensation, which hasn't happened yet.
DO YOU AGREE ? Yes or Yes ?
worker
HOTMEAT .... "They found something unexpectedly good: about $30 billion of mortgages on apartment buildings"
Mortgades are something completely different than loans !
says it all !
HOTMEAT...what a coincidence !?
Worker
correction $30 Billion !
HOTMEAT ... during the trial Nelson always stated that there will be minimum $300 billion of assets left for equity.
And by the way, if somebody (FDIC) sell a multi billion dollar bank for ridiculous ~$1.9B and 1 month later the buyer (JPM) find an "unexpected bonus" of $30 BILLION, if that's not a fraud, then I don't know !!
worker
HOTMEAT you forget one thing ... why shouldn't we be as lucky as JPM and find (the next) unexpected $30 billion bonus?
https://www.businessinsider.com/r-jpmorgan-builds-up-apartment-loan-leader-from-wamu-rubble-2015-7?IR=T
worker
If this actually ended without money, it would never end. That's why I think they will definitely distributing money in the end to close this case forever. Otherwise this "story" will never ever end !
HOTMEAT....$30B "unexpected bonus:
Finally it belonged to WAMU, whatever you say. And what once belonged to WAMU now belongs to ESCROWS. End of discussion !
Hotmeat...."TPG only accounted for $3B of the $7B"
Oh ...only $3B ! "PEANUTS", right ?
HOPEFULLY they will find an (minimum) $ 30 billion "UNEXPECTED BONUS" for equity too !
Hotmeat will surely agree, because for him they're just peanuts.
HOTMEAT... now I understand a little how do you think !
Maybe that "JPMorgan found a $30 billion 'unexpected bonus' in the remains of Washington Mutual" ... are also "PEANUTS" for you.
https://www.businessinsider.com/r-jpmorgan-builds-up-apartment-loan-leader-from-wamu-rubble-2015-7?IR=T
30 BILLION "Bonus" for JPM but nothing left for equity ! I can't believe the way you think.
HOTMEAT ... we speak about 7 (in words SEVEN !) BILLION $$ !
What do you smoke, that you believe this is nothing for Mr. Bonderman ?
HOTMEAT.... Do you've told this to BONDERMAN (TPG)? Because we are waiting for recoveries....along with Bonderman !
Mr. Bonderman, co-founder of the giant private equity firm TPG, engineered the firm’s $7 billion capital infusion to Washington Mutual !
Do you've told this to BONDERMAN (TPG)? Because we are waiting for recoveries....along with Bonderman !
Mr. Bonderman, co-founder of the giant private equity firm TPG, engineered the firm’s $7 billion capital infusion to Washington Mutual !
2010 ...“The settlement has been a setup from the beginning,” said Justin Nelson in his closing arguments. The Susman Godfrey attorney represents the official committee of equity holders, which has argued the company may have assets worth as much as $33 billion.
..and later in 2015 "JPMorgan found a $30 billion 'unexpected bonus' in the remains of Washington Mutual"
https://www.businessinsider.com/r-jpmorgan-builds-up-apartment-loan-leader-from-wamu-rubble-2015-7?IR=T
"H"appy "L"ife "C"hanging "E"vent !
In my opinion they've been told us for years we'll get something back. But the only reason for was, that we keep our mouths shut!
Now it seems we will get NOTHING ! And that's why I LOVE ALICE GRIFFIN's objection !
If these criminals went to jail, I peronally would give away all of my ESCROW shares immediately !
If an LT (who is normally responsible for the fact that former shareholders receive as much money back as possible!) don't care about an $30 BILLION (!) "unexpected bonus" which was given as "gift" to JPM, then I believe their will and must (!) come back much more money to the ESCROW owners !!
We are not alone ! The Hedge-Fonds (TPS Bonderman and Co.) have also waited all the years ! And during all of these years they have don't say any single word even if they would lost $ Billions, if there would be nothing left ! Think about !!