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I would like to believe that something substantive will happen on the 29th, but I suspect that it will be another non-event, a dealy.
Does anyone on the board hae an example of a naked short seller being punished or the law against naked short selling ever being enforced?
What about a cash dividend to deal with the shorts?
Thanks, Blockman, we all do at times. Looking forward to a great 2009 for all us shareholders.
What happened to the volume? It's been stuck at 16, 919,000.
Today it moved more than a penny, and Wednesday it moved almost a penny, so we are basically there!
SRSR rocked today!
Santa Chartinator, although I don't post here, I am a lurker. What do you think of SRSR? Thanks, and a Merry Christmas, Happy New Year, and profits for all at WU. You do great work and I find this thread extremely helpful.
Viva, while I would like to believe otherwise, based on the history to date of postponement after postponement, I would speculate that the chances of a full disclosure of assets and liabilities on December 2 are slim to none.
Can't they include the accrued interest in thieir claim, so that they get all the interest to the date of the court's decision plus the 4.4 billion?
I don't like saying this, but what makes you think we will get the statement of assets and liabilities on December 2, when there have been so many postponements so far?
Correction to last post, don't be surprised if it is delayed again.
I shall be very disappointed if this is postponed, but judging from the multiple postponements to date, don't be surprised if it is not delayed again.
Thanks, HR and Dragon.
Dragon, if there are 3,000,000 shares of preferred, and the payout at 100% is $1,000, wouldn't the total payout for the preferred be $3 billion?
Billiam, I like your posts but have some questions about the numbers. First, we don't know what percent of the assets are toxic mortgages, it could be much more than 25%. Also, in your calculation of around $8 per common share, you didn't include the amount that has to be paid to the creditors as well as the preferred. Finally, it is not clear yet how much has to be paid to the creditors now or when we exit bankruptcy, and how much is not due for several years and can be deferred. I continue long and strong, because I still think our chances are good. However, I think that JPM is likely to put up a long fight and that this is likely to be dragged out. I hoe I am wrong in that regard.
Monk, appreciated. For Sidney, what's pretty is the sunshine and weather here in California. What's not pretty are the fires, very devastating. We all have our issues with weather. I'm from Chicago originally, will take the sun over the snow anytime.
Thanks, Monk, I for one valued yourcoments. BTW, what do you think of ABK and YHOO?
Monk, I haven't seen you on the WAMUQ board lately. What's your opinion now?
Interesting points.
I hope this doesn't evolve into litigation, beause if it does, you are looking at months, and likely years, before they settle on the courthouse steps, just before a final trial and decision. That also means many postponements. You are also looking at huge legal, accounting and other professional fees that you might not even imagine.
Thank you, WaS, for making such an excellent video, one of the best I've seen, very persuasive indeed.
I'm not familiar with the other two law firms, but Simpson Thacher is highly respected, a top firm in New York. We are hiring the best of the best in all areas and it should pay off.
I'd like to see Paul Volcker, but he may be too old. He's great. Probably Tim Geithner.
I have not seen any documented rumors of banks or other companies wanting to buy WAMUQ or WMI, including a Spanish bank. I wonder if that Spanish bank may be Banco Santander. Can anyone post a link to any rumors in the media of the Spanish bank, or indeed any other prospecitve purchasers of our shares? Thank you in advance.
Dragon, if JPM buys out WAMUQ for $25B, that would make our shares worth over $12.00 each!
Another thing, we have top lawyers, including Simpson Thacher. Where is the money coming from to pay all of these lawyers?
Losing more than $300,000 a day is not laughable, it's cryable. By the time this is adjudicated, we will have lost millions in interest. Will that ever be recoverable in the courts if we prevail?
Ora, what do you mean by sacred lamp?
It seems like every time there is a hearing date, that the FDIC lawyers file an objection on that date and there is another continuance. Does anyone think that there will be any decisions made on November 14th? This seems like this can go on for months.
That post said that it was upgraded from sell to neutral twice, July 25 and October 27. When was it downgraded to sell after July 25?
DD, got your point. I hadn't seen those news bites. However, that's not going to raise the price of our stock or get our money back, which is all I'm interested in.
I don't think that the FDIC or JPM are going to be "punished" at all.
Mortgage, thank you for your response last night. I enjoy your posts.
Mortgage, I tend to agree with you in principle, but where did you get that figure of $2 billion, or is that just an educated guess?
I anticipate that the goal and eventual results from this investigation will be to find a scapegoaat, most likely executives of WAMU. They may be fined, disciplined, or possibly go to jail. I doubt that the FDIC or JPM will be disciplined or found responsible. If this turns out to be the outcome, what effect will that have on the stock price?
Dodgers, even if they keep intentionally walking Manny!
Is that issue resolved as to the date short selling can resume? Mariner agrees with Ogclip but I haven't seen where the others agree. I hope Ogclip and Mariner are right.
IF the $5B is returned, how does that benefit the common shareholders if it is used to pay back more secured creditors? If it doesn't, why would the common share price go up?
Let's go,PVSP