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There are always exceptions to every rule despite how rare they are. It takes a smart and wise person to see the opportunities when they come and to be able to understand and see through the smoke and mirrors of a BK case. If you surround yourself with smart people then you increase your chances. BK cases are not for the ignorant, the stupid, nor the faint of heart.
The two real bargaining chips seem to be the NOLs and more importantly the releases. I think she gave a mixed bag so as to get a settlement done. The best way to do that is not to grant the releases. The settlement is still the best and least bloody way out of this mess without years of appeals and people trying to make her out to be an idiot.
JPM needed to take TARP funds because of SERIOUS financial issues. JPM also handles the medicare monies. Hence the reason why the FDIC stole WAMU and sold it JPM. For next to nothing. Depending upon whom you talk to(try US GOV.) WAMU was more solvent than JPM. However due to connections, they won the lottery. JPM has the 4billion based upon the profits they made on WAMU's carcass. If they don't have the 4 billion then they are running in the red and have been for some time. Accounting practises are so complex they can be massaged to say anything. It is a matter of perception.
Calling all Susmans, Godfreys, Nelsons and companies!!! The bat signal is lit up, the red phone is ringing, the Weather Channel's extreme weather alert is posted, and the tsunami warning is blaring!!!! IT IS TIME TO BRING THE NUCLEAR ARSENAL!!! LET'S LIGHT IT UP BOYS!!!
You crack me up. 11/7, 1/1/11, 1/7/11 and let's throw a holy jalapena in the mix, with great karma and a ooommmwwwaaammmu and we'll have a great year!!!
Where are the links? Where are the quotes and by whom? (other than you answering your own questions.)In other words, nobody and I mean nobody knows what is going to happen. It is a BIG crap shoot based upon laws that can be manipulated and massaged in any number of ways both negative AND positive. You can think we are going to get screwed but you don't know that. Usually what happens is somewhere between the extremes. So you yelling fire in this theatre adds nothing. You have added a lot so I hope you continue to do so.
That is tooo funny. Thanks for the relief.
I expect 100% on Ps and Ben Mason's objection will have influence sooner or later. IF commons get paid then Ps get 100% by corporate law. If Ben Mason is ignored now, his objection will be used in the appeal process if neccessary. IMHO
The Hochberg report was SOOOOO bad that he actually did us a favor. How?? It is rather obvious that the report was written directly or indirectly by Rosen. It represented Rosen's argument to a dotted i. There were so many holes in it that a blind person could see including Walrath. Hochberg did us a $3million favor.
Ain't life a b*tch. He should walk in a few pairs of our shoes for a while.
It will probably be in our next reincarnation because of justice's slow wheels. Omwamu.
I agree with you. Karma can be great. Karma can be a b*tch. Your philosophy is spot on.
Ooommmwwwaaammmuuu.
A lot of cards are begining to fall around JPM. With all of their shenanigans coming out, will they have enough cards to keep it upright is the question.
I certainly hope he has better representation in January.
Catz- I know that I and at least two others have heard this but not sure exactly which hearing. I am searching but to no avail. I thought it was March but it may have been the Feb. Omnibus. I am still looking.
Duh. Very few times the very rich go to jail and there are so many layers of fall guys between the lackies and Dimon. You failed to recognize a shoulda moment. A wishful thinking moment
No arguement from these quarters!
In March 2010 Walrath requested from Rosen the asset list at time of sale. So Rosen has managed to avoid the subject. He has shown her so little respect that it may eventually bite him.
I have read in a few places is that she has 45 days.
Of anyone who has been more right than wrong, I'll gladly go out on that limb of yours. The "smart" money is about to step in and make an offer. That "smart" money can be the current debtors or a new set. However, someone will step out on that limb as well.
Wouldn't that open up a can of worms that he really doesn't want?? Where would the extra billions come from? Walrath just may ask him where was this money in the POR when he tremenously stressed that equity was out of the picture? Billions just don't come out of thin air, except for Rosen. Then she could force him to produce a valuation which she asked for earlier this year that he avoided. That would create untold headaches for him that he would llike to avoid for his career. If the debtors coughed up the money then that woulld make JPM look good.
You are most correct. He is in waaay over his head. For him it is past the point of no return because it is all or nothing(rule against the POR) for him. If the POR is ruled against him then he will probably be replaced by another WGM goofball whom magically comes up with billions out of thin air or to make JPM look good(aaargh), JPM will magically come up with enough billions that the weasels have made off the profits of WAMU's carcass and "generously" throws us a bone as a "most sincere effort to understand the hurt that this has caused the shareholders who have lost their life savings" so that we will shut up and go away quietly... can we regurgitate now?
That comes as a complete shock!!
Sunshine always helps to uncover the truth. The more sunshine investors get the better decisions we can make to achieve our own version of the American dream. I am glad someone like JMW has the integrity to recognize and understand that fundamental point. Thanks and Merry Christmas to you and your family Don for all that you do as well as everyone here on ihub.
Thanks for the courtesy of a reply.
What about dividends? Do you think there is a chance Preferreds will get paid dividends since some of the other classes got interest on top of their holdings?
Where would that leave the Ps if they get coin? According to the bylaws Ps must be paid in full before Us get anything just as is the case with the other debtors. However, is this still the case in BK law??
Now if you were to pick historical leaders then the choices are greatly enhanced. You have to consider their methods and give them the advantage of having today's knowledge. Would you pick a General Patton or an Admiral Woolsey or a Captain Hornblower or Chief Geronimo etc etc. The possibilities are endless. Another is Kubla Kahn.
Picard would pull an Obama.
The problem is that it isn't funny. With enough money, you can get away with just about anything including murder and Grand Theft of untold riches.
You can bet all of your shares plus 25% that Rosey has more tricks up his arse.
JPM spends hundreds of millions if not billions of advertising on all of the major channels. The heads/owners of these companies are all real chummy with the likes of their biggest advertisers. This begs the question would you go after one of or your biggest advertisers with possibly one of the most scandulous stories in history?? This story, if all of the details were to get out,would put Enron and the great depression comined to shame!!
I just luuuuuuuv Ms. BRICKLEY!
We are correct.... Our value went up starting today and will go up each day then 1-1-11!
If Rosen wants this to go away then he has until 12-31 or 1-31 then that should be it for Rosen and his plan BUT we will be worth a lot more after 1-1-11. Does this mean we're #1?!?
)
BEWARE OF EVIL ROSEN
HE WILL CREATE SOMRTHING TERRIBLE!
BE PREPARED.
Sooo.....this begs the question, when are these crooks going to "make equity go away" and what kind of motivation will it take to get them to motivate equity to go away?? Sealed documents are just hiding the truth and as long as they are hidden they, aka da crooks, have no motivation to settle.
You are not any more nuts than anyone else here. Besides, most adult behavior can be seen in children, just more vicious
Ain't that the truth... just like life itself. {;>D
In reality... Nooobody knows what is going to happen because everyone has been right and everyone has been wrong including everyone at ihub, ghostboard, and wahooo. Until the POR decision is made then all of us are just pissing in the wind. This has been and will be true concerning every issue in this BK. IMHO. BUT it is a tremendous amount of fun conjecturing and mentally sparing with everyone!!!!!