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Exactly....that is one thing that I have been pondering over for the last 6 months yet I have yet to find anything regarding the holding company owning the land under the old wamu branches. I am sure that some of the properties were leased to WMI through 3rd parties; but I am certain that there must have been quite a bit of real estate that belonged to the holding company that the banking branches operated on.
Maybe that is why it was so easy for JPM to throw up their signs...since they half to pay rent...i dunno....still trying to figure it out.
"The only sure thing in life are bills and death, my friend ..."
AND TAXES!!!
I disagree. This is a ch11 bankruptcy proceeding. The goal is to reorganize, settle liabilities and reemerge as a operating business entity in a reasonable amount of time. Does anyone know the last time JPM was in a jury trial?
guess i got lucky :)
"Folks, I have several questions:
1, if there is a settlement, does the settlement apply to all current share holder?
2, I don't know the possibility of the settlement, let's say there is settlement possible, compare the gains and risks, it will be a very good invest (assuming $12/S for settlement, it is more than 4000%). But why there is no one rush into it. Consider the low volume today and these two days share prices, can we say the possibility for the cash settlement is very very low?"
I'll be nice...
1. A share is a share. If there is a settlement and commons get paid u get paid.
2. I think the question you are asking is "why hasn't the volume and share price increased more then it has given that it seems theirs a high probability of commons getting paid?"
- This is a question that I have asked myself for the last 5 months of holding wamuq.
I think its fair to say that the answer to the question is because of multiple reasons:
1. Commons could still be canceled. The increase in pps lately in my opinion has happen because of more 'confirmation' signals from positive court proceedings that commons have a better chance of receiving some type of monetary compensation. There are some great members of this board contributing a heck of work into keeping board readers up to date. Browse there post. Oh ya thank them too!
2. Market makers are trying to hold this down the best they can. Why? So they can get more shares.
3. Lack of media coverage (oh wait NO media coverage). The media isn't going to cover this. Its not going to happen. Settlement talks are private, court proceedings are semi-public. If it does hit the mainstream media I will have to purchase depends. If it does hit the mainstream media and information gets out about how the OTS/FDIC and JPM's takedown of wamu may have contributed SIGNIFICANTLY to the economic collapse of 08....our market will crash again.
That is why it will never hit the press.
Zecco is usually quick...but not for me today. I entered my order before lunch and didn't get it filled till 10mins before the closing bell.
I grabbed some at .0001 few mins before the close....zecco shows it closed at .0002....hmmm
Yep just picked up 1000 more my self at the ask...yay!
i bought in at .04 - holding till the end....up 300% so far...yay! Happy friday all! Condolences to everyone involved in 9/11...
Ive had my GTC order for 1mil shares for 2 months. Just logged into my trading account and saw that they finally sold. I lost a lot on this stock. I have installed the collectors and tanks....good products....bad management. The company diluted the piss out of this to make up for lost revenue. Unless there getting their act back together (I highly doubt) I would not put any money into this. Seems people here got lucky.
No one really knows....volume started coming in a little after 1:00pm est. Speculation thus far has been that there may have been a leak in regards to the 4.4 or settlement. No one is sure though.
Over 40 million traded today!
wow just wow!
I know of two local Wamu branches in my area that have brand new shiny chase signs....Does anyone know of any contract with the holding company for the modifications/take over of the properties?
I have always pondered the cause/effect of this case actually being broadcast in the media. At the time the motions for discovery were granted I thought for sure that this case would make it into the media. It hasn't. Important dates have come and gone for court proceedings. No news has derived. Why? At first I thought that maybe there just isn't enough 'meat' involved in this case thus far to make it worth while for a network to gain ratings on this story. After all there was a TON of coverage on WAMU just a year ago when there was 100's of people lining the sidewalks outside the branches to withdrawal money. As time went on after witnessing far more coverage on recent financial events involving firms like CIT, GM, GS and BOA etc...it has dawned on me that no matter how much individuals send news alerts out to the media requesting some type of coverage on wamu...we are not going to get it. Sure we'll get these silly little 'equity group' PR's, but that isn't news. Anyone with a brain can read past that.
Many may disagree but logically in my mind this case would have already made it to the airways had their been no one to pull the plug on the feed (jpm/fdic).
This is never ever going to make the news. This case making the news would speculatively cause such a large ripple effect in US investor sentiment (ie confidence in US monetary policy) that in my opinion it could have devastating effects on our economy.
This has been swept under the rug for good imo. Were not going to wake up and see some crazy $12-25 per share value and have coverage of all the new WAMUillionaires. Its going to be a overnight stockswap of some sort, or its going to be a pure HALT and buyout. Maybe a few years down the road there will be a 20/20 investigation on this....thats it imo.
Prove me wrong media.
Time will tell.
got my sell limit in for $12 per share... ;)
In my opinion Weil wouldn't of taken an aggressive approach like opening up the road to Discovery unless he had hard evidence. These guys are getting paid big bucks and aren't messing around. They are going straight for the throat. It is going to be very interesting to see what he has in his rabbit hat. National coverage is just around the corner, this can't be hushed hushed for much longer. Happy Friday Everyone! Cheers!
I just hope we all get some fancy gift baskets at least...
SHOW ME THE MONEY!!!
Haha same here
Lol id be 26 and use the money to go back to school! Then Retire! Hehehehe....
I still am curious however. Lets say that the roles were reversed. Wamu was the "bad guy" all along. Lets say only the upper elites of Wamu (TPG too?) knew that JPM wanted them real bad and knew they were willing to do anything. Just speculating but what if this was all planned out and there was actual collusion between wamu and the fdic/ots. They got seized questionably. They didn't get tarp money. They weren't put on the 'no short list'. They knew JPM's buddies would short the crap out of their shares and gobble them up as soon they had the chance. JPM took the bait.
Anyone?
.105-.12 by eod imo
OMG can't believe it...its alive?
Good point.
"Wait until the WAMU discovery is completed - and the Fed's cover up/screw up & JPM's criminal participation is revealed! It will make the BofA/Merrill deal look like a mere petty crime! GO WAMU!!!!!..."
Yep. This is just the start though. IMO if this really does get into the media and winds up stirring national coverage, this very well could turn into a tidal wave of destruction to not only the FDIC and JPM but also to foreign/US investor confidence in our governments monetary policies.
IMO this can now go only one of two ways:
1. JPM will settle behind close doors. (buyout/very near future)
2. JPM will settle in front of the world. (National Coverage/forced settlement/more$$$/by next year)
what u think close .15-16 today?
The fence (fdic) and JPM will be liable. JPM is trying to do all it can to get the liability into the FDIC/OTS lap.
This paragraph from the article is the meat right here:
"....
The Washington Mutual seizure was a shot heard around the world. This event caused untold worldwide distrust of the US Banking system. It eroded people's faith in the markets resulting in record losses for every worldwide stock. Many people took a big "hit" in their retirement plans, which will take countless years to repair. Taxpayers will wind up picking up the bill in the form of the tax write-offs businesses and individuals will undoubtedly have to take. It's time for US citizens to get answers, but all they have gotten from the FDIC and the government to date is "no comment." Taxpayers deserve an
explanation and transparency. For this reason and many others,
Washington Mutual shareholders demand a full and immediate
investigation of ALL parties immediately....."
--This is exactly why this whole thing has been on the 'down-low'. The US economy has picked up a little in the last few months. A bull rally in a bear market recession (fabricated?). Sadly enough as much as I want WAMU/WMI to win a settlement, in my opinion if the FDIC is found liable for its wrong doings and has to pay out the A$$ there will be such a sharp decline in investor confidence in our governments financial regulatory policy that it very well may lead to even a far worst economic collapse then just a few months ago. Am I wrong? I hope so. But you can't rule it out. This is big time stuff. Lots of people lost A LOT of $$ for no reason.
Fine with me, gives me more time to get some more :)
GLTA im still holding my shares as well. Housing starts have at least shown a little bit of an improvement which is a good sign. There is still a heck of a lot of "green" related dough out there for new home buyers and builders to take advantage of in terms of tax incentives and rebates from the state and federal levels.
I honestly thought that TS would be bankrupt by now...maybe not? Time will tell.
were moving up from the 14' runabout into a yacht
----------------------------------------- flat line = dead body no life left what a shame.
Yep i agree with you, we shouldn't worry about bond holders, thats not what the concern is here focus is on the lawsuit and reorganization plan. Bond holders know that ultimately there going to be paid through their original agreements, maybe jpm will have to pay them?
wow congrats to everyone, if this really does go into dollar land this play would probably allow me to trade for a living and have a lifestyle that I have always dreamed of! GLTA!
Word is starting to get around. I think well see another solid run this afternoon after lunch. News is going to break nationally on this. Its going to get intense guys. .50-$1 is around the corner. Maybe more? Don't get greedy take this blessing for what it is.
I use zecco as well, great service and great pricing.
Wow this is so weird!!! I missed all the action today. Not only did I almost double my forex account lately but my wamuq predictions have come through. I really feel blessed!! Unfortunately I had to go to the hospital this morning on account of some health issues I have been going through with some 'collusion' between some antibiotics that my doctor prescribed me. Literally the side effects have been that of cocaine/ecstasy eee! My friends and family really thought that I was on intense drugs the past few days. Im not going to get into it because this isn't the forum to talk about things like that but I am blessed to be alive and kicking and am very pleased to see WAMUQ do some justice for once today. The individual bashers on this board need to wake up. The good in the world is coming back one step at a time! I am still detoxing from my antibiotics (may be a possibility that someone drugged my drink) but I look forward to conversing with many of you in the future and may seriously consider a 'stress' relieving trip to vegas to help alleviate some of these most recent financial hard times. Wish you all the best of luck, god bless! - Peter
Lol well keep working on pumping wamuq cause id be real happy with $35 per share :)
http://stockcharts.com/c-sc/sc?s=WAMUQ&p=D&yr=2&mn=0&dy=0&i=t40336446417&r=3850
Ya the chart's technicals are definitly looking great. The 50 day moving average is creeping upwards, the MACD is on its way up to potentially break above the zero level (a very bullish sign) and the Relative strength index is looking very strong too.
So crazy to see a chart like this down to .02 cents that was once valued at $45 per share lol.