Is throwing matches into plato's cave.
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from the examiner report:
JPMC's Opp'n to MSJ at 24-28, Turnover Action (July 24, 2009), Dkt. No. 102. JPMC asserts that increasing
the Master Note was inconsistent with Project Fillmore, which was the effort to reduce the overcapitalization of
FSB. Id. at 27-28; JPMC's Suppl. Opp'n to MSJ at 27, Turnover Action (Sept. 11, 2009), Dkt. No. 156; see also
Debtors' App. to MSJ at A115-A116, Turnover Action (May 19, 2009), Dkt. No. 16. In order for FSB to meet the
federally mandated qualified thrift lender ("QTL") test, 65 percent of FSB's assets needed to be in qualified thrift WMBassets (i.e., real estate-related investments). JPMC's App. to Suppl. Opp'n to MSJ at B1079 (Logan Dep. 220:10- 17), Turnover Action (Sept. 11, 2009), Dkt. No. 157; Logan Interview. FSB's compliance with the QTL test was closely monitored at the end of the month. JPMC's App. to Suppl. Opp'n to MSJ at B1079-B1080 (Logan Dep. 220:10-223:7), Turnover Action (Sept. 11, 2009), Dkt. No. 157; JPMC's App. to Opp'n to MSJ at B92-B94, Turnover Action (July 24, 2009), Dkt. No. 103. In the months preceding the Petition Date, the Washington Mutual treasury group proposed to decapitalize FSB. Debtors' App. to MSJ at A15-A16 Of 38), Turnover Action (May 19, 2009), Dkt. No. 16. On at least four occasions, Washington Mutual management had decreased the amount due to FSB from WMB per the Master Note and increased the amount FSB had on deposit at WMB. JPMC's App. to Suppl. Opp'n to MSJ at B1080 (Logan Dep. 223:8-19), Turnover Action (Sept. 11, 2009), Dkt. No. 157; Logan Interview.
Ms. Logan explained that the increase in the Master Note associated with the $3.67 billion transfer was capital effect neutral, and that it did not adversely affect Project Fillmore. JPMC's App. to Suppl. Opp'n to MSJ at B1051-B1052 (Logan Dep. 108:16-112:10), Tw-nover Action (Sept. 11, 2009), Dkt. No. 157; Logan Interview; see also Debtors' App. to MSJ at A115-Al21, Turnover Action (May 19, 2009), Dkt. No. 16.
http://madblab.com/post/fdic-report-wmbfsb-had-no-assets
http://madblab.com/post/tag/wmbfsb
he is a good samaritan, christmas is around the corner and he has to save some souls or Krampus gonna get him...
-----
Krampus is a mythical creature. In various regions of the world it is believed that Krampus accompanies St. Nicholas (your Santa) during the Christmas season, warning and punishing bad children, in contrast to St. Nicholas, who gives gifts to good children.
Dr. Archaryas Objection should hit docket tonight or later this week. cant wait to read his objection.
exactly
she only said see is not watching the docket 24/7.
She definately sees all fillings, at the latest when they are printed on her desk
here you go... facts
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=56675745
also you might wanna read the debtors last filling and the sideline critique against examiner... (seems ochestrated, IMO)
Another WAG is that we get 50% of the reoganised WMI.
My future WAG is that the US needs to rework BK laws. In some countries you cant reorganise sucessfully without preserving old stockholders, so you might wanna contact you congressman/woman.
no
it is:
Paypal fill in the e-mail of
wamufight. (wamufight@gmail.com)
but please wait for DON (fsshon) to make the anouncement he will explain everything needed.
bump!
close to 100 german shareholders have contributed so far. some even with 100$+ amounts. Please consider your participation in order to raise money to pay the entry fee for the laywer representing United Int..
even amounts from 15$ onwards are better than nothing.
dont wait to be executed by JPM/WMI/FDIC. If we are to go down, we can at least do so fighting.
Don and cat can verify that the amount is set up for this purpose.
They will certainly post an announcement here, but because time is of the essence please familiarize yourself with that effort!
From a rationalist perspective, if this seems like a scam as some on yahoo argue, whats a small contribution relative to the amount you have invested in Wamu. think about it.
Guys emotions are up, that is understandable given these circumstances.
however, we should not turn on each other, not now!
Joinder letter is in the making, 1000+ shareholders on board.
EC is silent and probably waiting for the depositions to take place before they file any further motion.
WMI's last filling to abandon equity puts the 5B in front of the judge, so she can see that there is something on the table for equity that might get utilized to pay up.
as for 2times value plus.
I think DG1 gets that from the original Ch11 filling of wamu
32B assets - 8B liabilities = 24B - 4B preferreds = 20B
+ 5,8 tax refunds = 25,8B/ 1,7 = 15,17$ /2 = Value 7,58 $
just a wag.
my calculation says.
available assets
+ 4 bill FSb deposits
+ 5.5 bill Tax refunds
+ 5 bill Boli/Coli
+ 4 bill Trups
+ 6.5 capital contributions
--
+ 25 bill
liabilities
16 Bill to reach common equity
--
- 16 bill
+ 9 Billion for commons = 9/1,7 = 5.30 $ per share
also just a wag
correct but as of yesterday
these groups are now one = United International
i guess cc-ing both emails so you dont get lost is the best way until the database is up and there are no double registrations.
We gotta close the ranks here
We need a little more coordination.
now that wamufight joined with United to form United international Bopfan asked for the same thing. It seem most Yahoo members follow Bopfan, ihub and ariva request recieved little notice on yahoo.
if we get the cohorts together into a legion it would be a very strong presence we could create with 1500+ shareholders.
now there is a phalanx for Mr. Rosen to circumwent
oh boy, he is really on fire in this one.
pointing out the discrepancy of what was meant to be the examiners business and what he actually did.
thx bizreader
now tell me how the hell shall i find any sleep without reading the whole thing...
dont know,
two relatively large buys with 50.000 and 30.0000 respectively.
the rest is retail with 5.000 each.
100.000 traded already in Germany
now it is at 0,38 € = 0,522 can$
http://www.finanzen.net/aktien/Energizer_Resources_1-Aktie
thanks for the info.
i guess lots of people are eager to read the objection of Dr. Archarya. It will definately be eloquent and well-versed argument against the POR.
thanks alot.
deleting cache made it visible!
hey catz,
am i blind? i cant find the audio sticky and it is not in the archive. Is it out yet?
Trust preferred Securities
may i ask which version u use? i have 5.0
well yes i can call in.
but the freakin robo-voice doesnt recognice my "#" DTMF tone.
no solution found in any forum so far
damn
cant call in with stupid skype because i doesnt support DTMF
another 30$ for regular pfone costs, thats 700 shares thrown away...
anybody has a solution?
thanks bbb
danke!
volume is relatively high!
i wonder if we bounce of that 0,05 support.
How Susman has to play it:
now that all parties think equity is utterly defeated, Susman might pull of a trick like this:
the examiner report wasn't out till Nov 1st. Billing is just until 30th of September. So in the next two billings we can really see how and if Susman was involved.
Willingham must be in the red quite hard.
he stated in court he has 1 million shares and bought in at 0.27ish.
1 mill x 0,27 = 270.000$
1 mill x 0,055 = 55.000$
= - 215.000 $
oh boy
he sold 300 JPM if i remember correct. It was in the news about his appointment.
scan it and post it please.
vote against it. abstantion will be counted as a yes
you mean this?
http://www.trutv.com/video/conspiracy-theory/govt-sachs.html
it may have valid argument, but the way it is presented is riduculus. Drama-TV with almost no content than one ever-recurring theses.
We need sth better than Rambo or Alex Jones type of guy.
on the botton right corner click on "save file"
HELP NEEDED Incongruities in the Washington Mutual Inc. takeover
update 1 - added info provided by users, pdf upload (i am almost my own reuters, lol)
http://www.2shared.com/document/B8uMfBjX/Incongruities_in_the_Washingto.html
PLEASE provide me with more details, correct typos or other mistakes so i can expand this shareholder evaluation.
It would be best if you post bullit points here including citation so i could expand by just copy pasting.
Then we have a document we could provide/bomb news agencies, senators and the EC with.
What the examiner got wrong:
available assets
+ 4 bill FSb deposits
+ 5.5 bill Tax refunds
+ 5 bill Boli/Coli
+ 4 bill Trups
+ 6.5 capital contributions
--
+ 25 bill
liabilities
16 Bill to reach common equity
--
- 16 bill
+ 9 Billion for commons = 9/1,7 = 5.30 $ per share
thats just what is in the agreement and its releases
he sways that and other assets away by asserting that the supermighty FDIC and JPM may raise counterclaims.
so frustrating...
it is a Corinthian hoplite helmet.
Incongruities in the Washington Mutual Inc. takeover
A shareholders perspective
******************************
I started a shareholder assessment of our situation
please help me with all your DD to complete this letter and offer it to FSSHON and LUV2SHOP and maybe attach it to our JOINDER
please also provide citation in order to make it a serious assessment attempt
******************************
Evidence of bad faith
· The Wall Street Journal (WSJ) reports that the FDIC called JP Morgan with an offer to sell WAMU six days before it even received the failed bank.
· As WSJ reports “WAMU Sale Kicked off by FDIC Call to Jamie Dimon.”
· “over the following days, JPMorgan and the FDIC negotiated the terms of the WAMU purchase despite the FDIC’s claims to other banks that terms were non-negotiable. On September 26, 2008, JPMorgan purchased Washington Mutual’s $188 billion in deposits and a coast-to-coast presence from the FDIC for $1.8 billion AND SIX PAGES OF INDEMNIFICATION RIGHTS AGAINST FUTURE LIABILITIES AND LOSSES.”
· WAMU Bank run occurred from 15th of September and onwards. WAMU lost 16 billions in 10 days. However FDIC offered WAMU to other banks before the seizure.
· Non-negotiation of terms for other banks combined with the possibility of negotiating term of purchase of WAMU clearly qualifies as bid-rigging.
Tax refunds
· The FDIC has publicly stated that the sale of WAMU can be considered as a zero-loss transaction of tax-payers money. Yet it is about to receive a portion of the tax refunds. Taxes the FDIC never paid.
· JPMC also receives a portion of the tax refunds, although it only acquired WMB and not WMI (the actual entity that incurred loss and thus has to be attributed with the tax refunds). Furthermore JPMC as a bank that received TARP funds is by law not entitled to receive any tax refunds.
Asset list
· WMI as the holding company of WMB also possessed a plethora of direct and indirect subsidiaries. The whereabouts of those assets is unknown for the debtors has stated multiple times in court that they are not aware of which assets had been transferred to JPMC by the FDIC and what value these assets possess.
· Additionally WMI and WMB were holding significant portions of shares of other institutions (e.g. VISA shares) that are exchanged for lesser value than their actual market price and without consideration of dividends.
· As of today, over two years after WMI has filled for creditor protection/chapter 11, shareholders have neither seen a complete asset list of WMI/WMB nor a thorough valuation of those assets.
Ballot incongruities
· A large number of preferred stockholders have yet to receive their ballot documentation
· Without any reason, non-voters are counted as accepting the settlement agreement instead of counting them as no or as abstention.
· Transparency of the process lacks accessibility for common stockholders to fully understand the mechanics of the voting procedure, obviously to confuse holders of preferred shares in voting in favour of the proposed settlement
Literature
Berk, Steven: JP Morgan Buys WAMU - Examiner Says "No Bad Faith" - But Something Still Smells, in: The Corporate Observer. 5.11.2010. Available at: http://www.thecorporateobserver.com/ Accessed 5.11.2010.
Fitzpatrick, Dan: Panel Tries to Unravel WaMu's Failure, in: Wall Street Journal 14.4.2010. Available at: http://online.wsj.com/article/SB10001424052702304506904575180441067747062.html Accessed 5.11.2010.
Fitzpatrick, Dan: No 'Bad Faith' in Sale of WaMu, in: Wall Street Journal. Available at: http://online.wsj.com/article/SB10001424052748704865104575588971448273294.html Accessed 5.11.2010.
Spector, Mike: WaMu Sale Kicked off by FDIC Call to Jamie Dimon, in: Wall Street Journal. 2.11.2010. Available at: http://blogs.wsj.com/deals/2010/11/02/wamu-sale-kicked-off-by-fdic-call-to-jamie-dimon/ Accessed 5.11.2010.
i am a guy, but if its platonic i'll take it ;)
please go to the court, i can't for i live in Germany.
I am compiling a shareholder letter with evidence of wrongdoings we might attach it to our joinder.
INPUT is very welcome
Examiner Says "No Bad Faith"-But Something Smells
http://www.thecorporateobserver.com/
Did the examiner lose any words about:
Visa Shares value and the other shares WMI has/had?
If yhe really just evaluated the present Settlement agreement no wonder he didnt find more than just what Rosen & Co gave him.
hi luv,
can you verify incoming emails.
And will wamufight.com be set up or is it just a placeholder-site for later?
make sure Fritzpatrick hears about that.
We need coverage for some positive PR...
half the planet thinks POR passed in March.
JOINDER INFO: FIRST STEPS
See post from fish
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=56264000