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.
JPM/FDIC lost in The Dual Track as ruled upon in DC Court.
The Court determined that JPM is to pay full book value for WMB and it’s assets
You released JPM for “Willful Misconduct”.
That is the proof that JPM lost.
The discovery documents of JPM proved JPM’s RICO charge and the FDIC’s 5AT.
The release is only validated upon payment.
Officially JPM is NOT released yet.
75/25% is NOT GLOBAL.
75/25% only relates to the Retained Earnings of about $25 Billion.
~2.5X face value for Class 19.
Ron
WMI Sued The FDIC For $307.2 Billion.
DOCUMENTED!
Remember 5AT in footnote 2?
DOCUMENTED!
JPM/FDIC lost in The Dual Track as ruled upon in DC Court.
JPM is to pay full book value for WMB and it’s assets.
Current FDIC number; $299 Billion for WMB and it’s assets.
We released JPM for “Willful Misconduct” {Civil RICO} which can be settled with a Monetary penalty.
Ron
What is the Case Numbers for What Hold2wn is Watching?
I would like to follow along.
I have seen BofA and JPM names regarding these two cases.
“Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-05450-NRB.”
“In re: Libor-Based Financial Instruments Antitrust Litigation
Court Docket Sheet
Southern District of New York
1:2011-md-02262 (nysd)”
https://www.docketbird.com/court-cases/In-re-Libor-Based-Financial-Instruments-Antitrust-Litigation/nysd-1:2011-md-02262
Ron
Pushback From The little lo is a Good Sign
LIBOR is nearing completion.
Yes we see dates well into the end of 2024.
Discovery and Criminal prosecutions is the next phase.
Settlements and payment well before the Criminal Prosecution’s hit the Docket.
Ron
“Upstream Issues" Part 2.
I believe that the count of JPM executives that somehow ‘died’ related to their LIBOR manipulation is around 22 people.
The BOD set’s the tone and the criterium for their employees.
Yes the BOD is responsible.
Pay up JPM and BofA.
Remember the London Whale?
Dead or alive?…
I don’t write the news.
Just my opinion from reading Court Documents.
Ron
"Upstream Issues".
Upstream Issues are Criminal prosecution.
It’s in the documentation.
3959-3960;
“Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-05450-NRB.”
Follow the case numbers.
From 3921;
“The parties are reminded of the October 4, 2024 deadline to file summary judgment motions related to the alleged suppression of LIBOR and/or any conspiracy to suppress LIBOR (the "Upstream Issues"). See ECF No. 3687 at 6.”
Now see 3687.
BofA and JPM and same case numbers.
Yes The FDIC is a OTC Plaintiff
How this will play out for the Defendant’s.
Like the final see of “Reservoir Dogs”.
Who will/is shooting who first?
The only solution to keep the employees from ‘ratting out the Boss/BOD is for the Boss/BOD is to settle fast before Discovery gets ugly.
Settlements become the framework for the next settlement.
We will probably never see the Upstream Issue litigated.
Ron
LP; Of Course it Won’t Be Worded That Way.
The LIBOR Docket is nearing 4,000. I don’t have the time to go and look back at very early documents.
S&G is the OTC Plaintiffs council. The FDIC is a plaintiff representing seized banks as the receiver.
Close enough of a connection for me.
As I said; S&G took control of the Original Liquidating Trust that held the Claim against the FDIC for WMB and it’s Assets.
IMO, S&G is still protecting the interest of their client.
WMI Stakeholder are still there!
W-9 filed.
😁
Ron
The Equity Community’s Council Took Control of the LT.
S&G, The Equity Community requested control of the Original Liquidation Trust created before the creation of the Plan 7 LT for Creditors.
The Equity Community was granted control of the original trust which held WMI’s claims for WMB against the FDIC.
The FDIC is representing WMI on WMB’s behalf, and S&G is representing the FDIC on WMI’s behalf.
The OTC Claimants!
The FDIC is a Plaintiff as a Receiver.
The CDS, Credit Default Swaps LIBOR insurance interest rates where manipulated by the Big Banks that wrote the contracts.
JPM, BofA will pay.
Ron
Coming to a Theater Near You.
Your signed W-9 is your ticket into the theater for the Big Show.
It’s only reasonable to believe that the naysayers don’t hold a ticket.
There is a reason why us ticket holders are optimistic.
I’m confident in my numbers because WMI/WMB, and the Court documents gave me the numbers.
Remember the FDIC’s numbers for WMB and it’s Assets?
WMIH/COOP.
Ron
Coming to a Theater Near You.
Your signed W-9 is your ticket into the theater for the Big Show.
It’s only reasonable to believe that the naysayers don’t hold a ticket.
There is a reason why us ticket holders are optimistic.
I’m confident in my numbers because WMI/WMB, and the Court documents gave me the numbers.
Remember the FDIC’s numbers for WMB and it’s Assets?
Ron
Plus, The FDIC is a Plaintiff as Receiver.
The FDIC sued these Defendant Banks for LIBOR Manipulation on WMB and others on the banks in receivership behalf.
Filing for “conspiracy to fraud” discovery starts early next year.
Time for settlements and release’s.
Releases are exercised by the payment in full.
Technically JPM is not Released yet regarding “Willful Misconduct”.
Ron
BofA and JPM are Defendants.
11-md-02262-NRB
The next phase is Discovery.
The Defendants will settle fast just like WMI discovery of JPM did.
JPM settled on the night before the document was submitted to the Court.
Defendants are settling to obtain releases. Therefore, stopping Discovery.
The FDIC is a plaintiff as a receiver.
3930, 3929, 3928.
3921, 3687
Ron
OTC Over the Counter is Derivatives.
Credit Default Swaps...
All based on LIBOR interest rates.
The FDIC is a plaintiff.
Document 3939;
https://www.docketbird.com/court-documents/In-re-Libor-Based-Financial-Instruments-Antitrust-Litigation/ORDER-WHEREAS-no-class-member-has-objected-to-the-settlements-that-will-be-addressed-at-the-fairness-hearing-scheduled-for-December-12-2023-at-11-00-a-m-the-Fairness-Hearing-and-WHEREAS-the-OTC-Plaintiffs-have-filed-written-submissions-regarding-the-/nysd-1:2011-md-02262-03939
Now Please see doc; 3930, 3929, 3928.
Now who could the FDIC be receiver of?
https://www.docketbird.com/court-cases/In-re-Libor-Based-Financial-Instruments-Antitrust-Litigation/nysd-1:2011-md-02262
Ron
Your Argument is Unconstitutional.
It’s all about property rights. BK APR removal cannot override the Constitution regarding ownership of Property Rights. BK Code is a sub-set, subordinate to the Constitution.
The Retained Earnings held in Treasury Notes satisfies Class 19’s claim against the WMI Estate.
The Court exercised APR within the Bankruptcy Code to satisfy Class 19 claim with great benefit regarding the Assets protected in Retained Earnings.
Hint; Class 19 is receiving more than their claim.
~2.5X vs 1X.
All documented in the Court proceedings.
Class 19 is to receive 75% of the Retained Earnings as presented in the February MOR.
The payment for WMB and it’s assets is all Class 22’s property.
My numbers as a Series R holder is ~4.6X.
I have posted the sources of revenue.
Ron
Property Rights.
APR can not over rule Properly Rights!
The Constitution!!
All Law. Not just Bankruptcy Law.
The Retained Earnings of now about $2.5 Billion is 2.5X above Class 19’s claims relating to their Face Valuation.
That covers past interest payment losses handsomely.
The Common Share Holders own the WMI Estate.
No 75/25% to the end.
One one lied. The February MOR Retained Earnings told us!
I have presented real numbers and documents.
Prove me wrong with real numbers and documents.
I win,
Ron
(1). Sorry But You Are Totally 100% Wrong.
Already ruled upon in DC Court referenced to as the Dual Track that JPM is required to pay full book value for WMB and it’s assets as of the day of the seizure. The $1.88 Billion was an initial payment based on 1% of WMB deposit base of $188 Billion for admission purposes as stated by the FDIC.
DOCUMENTED!
It’s not a‘secret’.
WMI sued the FDIC for $307.2 Billion for WMB and it’s assets, after some money came back to the WMI estate (~$7.9B). The FDIC response was $299 Billion for WMB and it’s assets.
JPM is awaiting the final valuation with the LIBOR adjustments for WMB securitization for final valuation.
Your following points are not worth a response…
Know maybe you understand LOL!
I am Laughing Out Loud at your post.
The lo-one has made many ‘stuff’ not worth reading as posts.
You to may soon occupy the same space as lo.
Kindly,
Ron
COOP Isn’t the Reason!
I don't believe COOP performance is the source for COOP current price rise.
Something more important is transpiring, hopefully related to December 12th LIBOR.
Ron
More Than 4.1X for Series R, P’s.
I have truly proven mathematically that Series R will receive more than 4.1X par/face of $1,000
Yes Proven!
JPM has no control over the Retained Earnings in Treasury Notes, nor the WMI Preferred Funding. Both are controlled by WMI Equity Community as Plan 6 transitioned to Plan 7. The Original Trust from Plan 6 pulled out sufficient funds for the Plan 7 LT to pay all Creditors in full, and the rest of the Plan 7 LT was donated to charity.
The FDIC may have a lien against the assets. But only a lien until JPM makes payments back to WMI/WMB for LIBOR rate losses.
Par Values;
Series R: $1,000
Series K: $25
TPS: $1,000,000
$7.5 Billion Claim for Class 19.
Commons: there is no par value for commons.
Ron
Why Did NSM Have Rights to WMI Assets.
Doesn’t make sense.
WMI possesses the assets not NSM!
Didn’t Reorganized WMI and the Series A and Series B finance the collateral for the merger/accusation?
Ron
But LG. There is No Historical Evidence of the Relationship.
You really didn’t answer the question.
Interesting opinion. But just an opinion.
How is a pre-merger sub of NationStar like XOME related to anything of WMI?
Ron
LG. What is the Relationship Between XOME and WMI?
I don’t see it!
Please explain why/how a sub of old NationStar can be related to a ‘WMI’ DST??
Ron
The Bankruptcy Court Requires That Creditors are Paid.
That’s the Law and function of The Bankruptcy Court.
Done with the Plan 7 LT. Paid in Full.
DONE!!
Retained Earnings proved to the BK Court that Class 22 will greatly satisfy Class 19’s claims.
2.1X at implementation. Currently ~2.5X face redemption from Treasury Notes interest.
Not BAD!!! Bravo!!!!!
The Original Trust hid the assets from the Equity Community.
The Equity Community Presentation proved/forced the Court to grant control of the Original Trust created by AAOC in Plan 6 to the Equity Community.
I have already listed all of the sources of revenue sources concerned in the Original Trust largely for Class 22.
The owners of the Debtor’s Estate.
Ron
Plan 7 Liquidation Trust Was For Creditors Only.
The Plan 7 LT paid off all Creditors by design and the remainder was donated to charity.
Equity “beneficial interests” is regarding the Original Trust.
The wording makes it sound like the topic is only one trust. There was two Trusts. The Original Trust is in continuous status until litigation resolve.
The documentation proves it.
Hint;
Just a comma, is all it takes to separate the two topics.
Plan 7 LT has no responsibility to the Equity Classes, only Creditors.
Just a comma splice to separate the two topics.
Again, The Equity Community requested/received control of the Original Trust.
Are the lights on yet?
Ron
Possession Without Title is THEFT.
Possession is nine tenths is a cliche, not law. Please site the US Code!
The FDIC needed WMI to abandon the Title of WMB to the FDIC because they didn’t have the Title to WMB, so that the FDIC could have Court standing to prosecute and close the Receivership.
I posted the link for the LIBOR Litigation earlier today. Which is an example of the needed process by the FDIC for the Receivership.
WMI abandonment of WMB’s title was early 2012, just before Plan 7, and 41.6-41.7 implementation.
Hint; RICO.
Plan 7 LT was only for payments for Creditors as stated. The remnants of the LT were donated to charity as stated.
Please tell us about the Original Trust created by AAOC in Plan 6 that the Equity Community requested/granted control of?
I have, assets in the Original Trust;
• Payment for WMB and it’s Assets.
• RE/DCR.
• Safe Harbor assets.
• Other ABS Assets
• WMI non-Debtor Subs.
• ….
Shall I continue?
Ron
The Function of Companies Bankruptcy Is To Protect Assets.
To pay Creditors as much as possible regarding their claims.
The function of the “Impaired Class” is to hide the assets from the other classes. AAOC created the Original Trust to hide the assets from the other classes like Equity.
WMI had their solvent revenue producing WMB subsidiary illegal seized as proven by the Court Documents (Holding Company vs. Bank Holding Company).
Case in point! The Dual Track in DC; JPM is to pay full book value for WMB and it’s assets as of the date of the seizure. The background for the 41.6 “Willful Misconduct” release of JPM.
RULED ON AND DOCUMENTED!!!
AZ posted regarding the Dual Track, and I did my research to confirm.
Check Mark!
I’m confident about the numbers because they are not my numbers.
I just track the numbers, and the process related to the numbers.
We have already been told about the numbers. WMI sued the FDIC for $307.2 Billion. Retained Earnings of $20.78 Billion, now ~$25 Billion in Treasury Notes.
Preferred Funding;
All you need is two data points to create the graph to calculate the accumulation. I did. +2.1X.
No one has even close to presenting a reasonable response to prove me wrong!
The documents and the numbers prove me right!
Same for the Original Liquidation Trust created by AAOC in Plan 6.
Ron
LP, Look Here for LIBOR Litigation.
https://www.docketbird.com/court-cases/In-re-Libor-Based-Financial-Instruments-Antitrust-Litigation/nysd-1:2011-md-02262
I see good things.
LIBOR settles the Derivative Market Meltdown put-back for the ABS CERTS Holders. In our case, WMIIC+Preferred Funding.
Ron
Newflow, You Posted The Transcript.
I read it.
Now about two years ago.
Plan 6 hearings, December 7th.
The Equity Community Presentation plus the Equity Community request for control of the Liquidation Trust during Plan 6, long before Plan 7 LT for Creditors.
When you stop focusing on Plan 7 LT, then you might understand the Original Trust.
SS, Rule of Law regarding the illegal seizure of WMB.
The FDIC had no legal authority to request the OTS to seize the WMI Banks.
JPM RICO.
Hence; The Dual Track.
Resolved; JPM is to pay full book value for WMB.
Holdings Company vs. a Bank Holding Company.
Big legal difference.
2008 was all about the Naked Derivative Market Meltdown
Ron
Newflow I Answered Your Question.
Please see my response to your post.
Please forget about the Plan 7 LT.
DONE!
That’s not there the assets and the money is.
We still have “beneficial interests” in the Original Trust.
The wording is very specific and correct.
Note that; sometimes it says Plan 7 LT, and other times it says ‘the Trust’.
Two different trust entities with two different purposes for two different claim holders.
Ron
Excellent Post Newflow.
Everything that they said is true.
All the Original Trust is saying is;
• that JPM hasn’t paid for WMB yet.
• ABS accumulation valuation hasn’t been tabulated yet.
• WMI non-debtor Subs haven’t surfaced yet.
The Original Liquidation Trust was created by AAOC, then acquired the control by the Equity Community by request.
BO. and his HF friends is AAOC.
Think Assets.
The Equity Community created the Plan 7 LT for Creditors from sufficient assets pulled from the Original Trust.
It’s all a funny game of legal wording.
Very easy to follow the documents and BK law.
It’s NOT about You (genetic statement to all, not referring to NF). So please don’t take it personally.
Ron
Yes It Will Always Happen Tomorrow.
Because it can’t happen today.
Today is over!
Stop your complaining and offer a solution!
I stick with my numbers and thesis on valuation supplied by the Court. I’m good with numbers and Count documents.
RE/DCR, The First Liquidated Trust, WMI sued the FDIC for $307.2 Billion, Preferred Funding for Series R .
And MORE!
Prove me wrong!!!!
Starbird Rd
Ron
Last Year’s Derivative Market Notables!
Total market was $362 Trillion. Five times the total GNP for the whole planet! Impossible to bale-out the big banks at theses numbers.
Unregulated insurance companies. We need to return to Glass–Steagall.
Yes I’m a NASCAR fan and Formula One. Any mechanized sport.
Did dirt motorcycles trail riding then trials competition, Go-karts (100 cc), then 250cc Shifters IKF 3 (TZ 250), Raced on car tracks. Top speed of ~150 MPH. The brake zone is incredibly small because the weight class is 350lbs.
Ron
Did "Too Big To Fail" Discuss The Derivative Market Meltdown?
Back in 2006-2008 I was reading and tracking the Derivatives.
Warren Buffet;
“Weapon of financial mass destruction“.
Numbers;
JPM wrote 57% of the derivative contracts in the $83 Trillion market place. Potential exposure of $43.31 Trillion.
According to the Treasury Department, the Residential Housing market was $13 Trillion.
Potential exposure at 10% losses insuring 50% of the RMBS of 57% of the market.
In Billions;
$13,000*.10*.50*.57= $307.5 Billion.
At 20% losses insuring the RMBS;
= $741 Billion.
That’s just the RMBS. Now what about the other ABS’s? … Credit Cards, Auto Loads. … Oil Wells?
Yes JPM was in big trouble along with the other To Big to Fail Banks that the tax payers baled out. TARP. Just throw a blue tarp over it and no one will know!!
TRILLIONS
Ron
The Hedge Funds Had to Sign Releases Also!
Just like us!
JPM’s officers are NOT Released yet because JPM hasn’t paid for WMB yet.
We all released JPM for “Willful Misconduct”, ->RICO with 41.6 in good faith.
The Release is consummated when the check clears.
Ron
The February MOR Retained Earnings;
Have nothing to do with the Reorganized Debtor/COOP!!
During the creation of Plan 6, a Liquidation Trust was created for the benefit of AAOC.
The Equity Community proved to the Court that the assets value in this LT was greater than AAOC/Class 16 claim. The Equity Community proved ~$25 Billion was protected/hidden in the LT;
• BOLI/COLI
• Exchange Event
• Turn Over
• Rabbi Trusts
• others
The Equity Community requested control of that LT during a Plan 6 hearing. The request for the control of the LT was granted during the transition from Plan 6 to Plan 7.
Now that the Equity Community controlled the LT created during Plan 6’s creation, the EC pulled out sufficient funds/money for a new Plan 7 Liquidation Trust for payment in full for all the Creditors.
The Big Hint;
The Retained Earnings of the February MOR are never discussed in the body of the same document regarding Plan 7 because RE has nothing to do with Plan 7 for Creditors.
Plan 7;
The Equity Community representing Class 22 also proved to the Court in the February MOR that the RE held in Treasury Notes was sufficient to pay Class 19’s at a +2.1 multiple due to the 75/25% split of the RE at that date.
The TPS had a $4 Billion Claim.
IMO, now worth ~$10 Billion
Similar math for the Series K.
Have a great Thanksgivings Day with your family and friends,
Ron
Impossible BB0b. NON-CUMULATIVE!!!
What does NON-CUMULATIVE MEAN WHEN???!!!
I’m writing this in yOur wrIting STyaly hpoPing THAT YOU MIGHT UNDERSTAND..
NON-CUMULATIVE!!!!!!!!!….!!!????
parD,
Ron
I Have Calculated the Accumulation for Series R.
“NA Washington Mutual Preferred Funding 7.250% 3/7/2006 EUROMTF Non-Cum WR NR USG9463GAA60 NA 750 Euro Preferred”.
Series R holders received three payments a year.
Two interest payments and one performance payment at the end of the year.
Accumulation of annual Performance Payments;
~+2.1X face of $1,000
I have two data points. Linear Interpolation, the area under the curve.
Interest payments;
Two $36 payments a year. The interest payments stopped because the interest payments is Non-Cumulative.
Series R and Series K;
75% of Retained Earnings, about ~+2.5X to face.
More than 4.6X to Series R.
The Estate belongs to the Commons!
Don’t take it personally. It’s all about ownership.
Ron
Why is LEHNQ Trading at .000001??
LEHNQ is trading but not trading?!?
No volume?!
No value!?
Why?
That’s Because JPM’s Check Hasn’t Cleared Yet.
The WMB Notes are JPM’s responsibility because the UK Covered Notes is backed by ~$26 Billion in assets. JPM also needs to buy the backing assets. Which adds to the valuation of WMB to WMI.
WMI sued the FDIC for $307.2 Billion.
JPM is not released from 41.6 “Willful Misconduct” RICO allegations yet either. JPM settled fast before the RICO allegations were to be heard in open Court. JPM knew that they were guilty and broke due to the Derivative contracts exposure.
Ron
Multiple Sources of Returns.
•RE/DCR ~$26 Billion distributed 75/25%.
• Preferred Funding +~2.1X PQ.
• WMB payment from JPM.
• WMIIC/ABS.
• Other assets.
Ron
That Depends on the Interest Rate.
I don’t believe it is that high yet.
Then did the discussion start at referencing the $25 Billion?
?Six years, eight years after the plan as implemented?
RE = $20.78 Billion.
T = time in years.
R = interest Rate expressed as a decimal.
DCR1 = $25 Billion, said value from discussions.
DCR2= new DCR value.
The formula;
DCR1= RE(1+R*T)
Now solve for R.
R = 1/T(DCR1/RE-1)
With a different interest Rate calculation based on a different time span.
Example;
If the $25 Billion discussion stated six years after plan implementation (early 2012), then DCR2 becomes $26+ Billion at R = 2.54%.
Eight years;
DCR2 = $28.5 Billion, R = 3.34%
The interest rate looks high to me for the time period of 2018-2020, but Rosen did say that ‘they got a good deal’.
Ron