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Thank you very much from Spain.
I think you and Ilenes deserve the MVP title.
Thank you for sharing this info with the rest of us.
I know but I don't pay much attention to those users that simply state WAMUQ = lotto ticket. That shows their knowledge in the case. None.
LG, please read my post again. If you don't follow this case you'd better consider it as a lotto ticket.
As I follow this case, I don't consider this stocks a lotto ticket and have an interesting quantity of WAMPQ and a bunch of commons just in case.
But I was giving advice to a newbie, and because of that, said "if you don't follow this case..."
I've been here for almost 2 years now...
Good luck to you.
I agree. If you don't follow this case you'd better consider it as a lotto ticket.
Also, if you want to increase gain chances, use that K to buy preferreds (WAMPQ) as they have priority over commons (WAMUQ) in the money waterfall.
Also WAMPQ is better than WAMKQ as WAMKQ (F.V. 25$) is always a little bit overpriced compared with WAMPQ (F.V. 1000$)
Good luck
I have the feeling that today we are going to witness a huge drop in the PPS during the debtor/JPM/FDIC closing arguments.
JPM and FDIC didn't intervene in the IT Hearings so they will probably throw some nasty balls in their speech (specially JPM).
The higher the PPS is, the bigger the drop will be, so I guess this PPS spike benefits the MMS to do their show.
BTW, I expect to buy some cheapies during the JPM closing arguments...
Things do not go our way here...
Will WAMU ever be a profitable bank again?
Would it be worth holding shares... or even buying more and going way long?
I know Kristall, but Rosen keeps threatening EC with this MARTA BS.
MARTA claimants should be aware that they will get X (I think it was around 180$ million, if I recall correctly -pocket money in this BK-) so they should try to maximize their return, that is:
1.- Acquiring Wamu equity (commons and prefs)
2.- Withdraw their claim to make it clear that A>L
Why don't the MARTA claimants do this:
1.- Buy as many WAMUQ and preferreds (for leverage)
2.- WITHDRAW THEIR WORTHLESS CLAIM thus, leaving Rosen pants down.
It would leave clown Rosen without weapons to use against equity (well there would still be the FDIC and JPM claims around) and MARTA claimants would likely see a nice recovery as we would be now A > L
Any thoughts? I know it's totally 8-ball but would be nice to see...
Wrong... actually we are 90M $ (I think) out of the money, where WE = TPS + Preferreds (P $ K)
If JPM settles with TPS it will mean we are still 90M $ out of the money, where WE = Only Preferreds (P $ K)
BUT, if more money is to come to Equity, we would get MORE (don't have to share with TPS) and Commons would see the money sooner too.
<PARANOID MODE=ON>
As Aurelius partially withdrew their POR objection, I think their strategy is the following.
1.- They (SNH+debtors) expect IT charges not demonstrated. They setup an 'ethical wall BS system' so that they wouldn't trade on what they called 'material information'. I'm not going to discuss this now (actually I think they did) but SNH's will stick to 'the Plan' and claim they didn't do IT to receve a little admonishment, if any.
2.- Debtors were responsible to make the 'material info' public after the restricted trading time, which we all think they failed.
What if they (WGM/A&M) somehow avoid those responsibilities and liabilities making someone from WMI responsible for this? For example, I am sure Kousturos the 'I don't remember' clown would accept a check for being liable, and that way the whole IT issue would be settled with money from WMI's assets or Directors insurance (500$ million maximum, if I recall correctly)
I don't know, lately I am spinning my head around too much...
I'm worried about the lack of media following this case.
We (shareholders) are witnessing how events occur in a manner we've been talking about years. But I find it 'funny' that there is no media covering these issues.
For example all the IT allegations and hearings. None of the main media reported (AFAIK) anything about these hearings involving the 4 SNHs but for example, they announced the settlement of WMI former directors with the FDIC, which IMHO is a second class issue compared with the IT charges (FJR applied, profit disgorgement, probably jail time, EC driving the BK...)
Call me paranoid, but with this recent 'Aurelius partial objection withdrawal' I think elements are aligning to make the deal closed and rubber stamped by the judge, and then only a few shareholders will continue suing (because they will probably have to pay attorney fees at their expense) and with those left, yes, I wee there is a possibility to obtain some kind of settlement.
As I've said many times during this BK, I've learned that what a layman like me might consider unfair, if it's legal, there is nothing to discuss. During the confirmation hearings we've witnessed many testimonies that we would think would made POR and GSA 'unfair', but only judge can tell. BTW, I didn't like the way THJMW closed the door to Bet, it looks like she didn't want any new matters 'in her way'...
Anyhow, I remain a little confident that the POR will (again) be denied and have some hope that the EC (or an appointed trustee) will gain control over this BK. I think BR is playing his cards 'urging' the judge to have this POR approved, but I think we now have too many ACEs in the sleeve that he didn't count on when he first presented POR v.6 (IT, ANICO, Stern...)
But don't forget it. Unfair (to us) doesn't mean ilegal (to them).
P.S: Does anyone remember SCIOTO and how the DS was approved with over 600 objections? Beware and good luck to all.
I wouldn't worry, people already made their bets/investments and are now waiting.
No interest from third parties.
No programmed halt for any WAMU stock.
http://www.otcbb.com/dynamic/marketwatch/mwsubhome.stm
I propose paying all of the FRAUDULENT Class 18 Claims with the CLAW-BACK money that Rosie and WGM have stolen from the Estate. Seems fair to pay for FRAUD from FRAUD.
Agree. I have Chiron in my ignore list but keep seeing his/her messages all the time.
Is there anything I can do about it?
Today it'll sure be an interesting day for all WAMU flavors.
let's see what happens until Aug 24th.
Good luck all.
Chiron, so it means you are now positioned:
Long on preferred
Short on commons
Imho
The (in)famous Martha Claims are a (Chicago?) policemen pension fund of 150$ million (or something like that) that are claiming now something like 50$ billion.
I don't recall the exact figures (too lazy to look for them as you were too lazy to look for them also) but the monstrous bogus claim that this makes them to go 99% through the toilet.
Debtors didn't question this claim because it benefits them as to show A<L.
The same as the FDIC and JPMC multi billion last hour bogus claims.
I want to see what happens with the LIBR.
When I hear her in the hearings, she seems interested on the matters and even looks like if she agree with us, but at the latest moment she stubs the knife in the middle of our ribs.
I have great expectation with all the latest issues raised by the EC, TPS and EVEN AURELIUS!! but I am not so confident on whatever happens.
Thank you.EOM
HELP! What's 'material' information?
I beg for a little help here.
As English is not my first language, I need help to understand what's 'material' information and what's not.
I've heard it many times during the last hearing, but don't get it.
TIA.
It's a pity corporations like JPM that often commit felonies and crimes are not punished with a "Three strike law" type of rule. EOM
Well, actually they are not the same. TPS debt (4$ billion) was backed up by a greater value assets (i.e. 10$ billion) that JPM of course 'cherry picked' for themselves without getting the 'liabilities' (=TPS debt). We have to thank FDIC once more for that.
Meanwhile the Court stated that they are 'pari passu' which means they have the same priority than preferreds Ps and Ks. But they are not the same and that's what TPS is appealing.
If they win, there are different scenarios:
1.- TPS debt asumed by JPM (that should be the one) so preferred pool gets smaller and commons would see the money sooner.
2.- TPS get rated as a higher rank class before preferreds, then preferreds wouldn't see a cent until TPS are paid in full
3.- TPS get as they are.
Be careful with that statement, because if TPS win their appeal then there will be 4$ billion more in front of us (Equity) before even preferreds get a dime.
Very interesting, from 29th hearing transcription.
This caught my attention.
It's when ECKSTEIN is discussing with THJMW about a document handed to the EC that's completely black out except for one line "two hundred and fifty million dollars for the reorganized debtor" [page 22]
Let's go onto it:
Page 61/122
THE COURT: And their investment models don’t go to that?
MR. ECKSTEIN: No, it does not, Your Honor. That to the extent it does, that was produced. The other information in the investment model does not go to the value of the reorganized debtor.
THE COURT: And it doesn’t contain any information that was received during the settlement negotiations?
MR. ECKSTEIN: Your Honor, that’s -- I did not say that it does or doesn’t.
***********************************
I find interesting this Eckstein's response: "I did not say that it does or doesn’t."
He didn't give the clean straight answer "no it doesn't" (I guess that could be perjury).
It's the kind of things that makes you go hmmmmmmmm
Can we see in the trading records "two sixty-day periods when they [SNHs] entered into confidentiality agreements with the debtor, and either established an internal wall or did not trade" ?
I guess it should be very easy to notice those 2 60 days with normal/low activity and then BOOM!! PPS and volume explosion.
with the exception of two sixty-day periods when they
3 entered into confidentiality agreements with the debtor, and
4 either established an internal wall or did not trade.
what happens when the government lies to its citizenry?
Thank you very much for your opinions. Greets from Spain. EOM
Magician? you have a clown named Rosen.
When he says we are milking the state (being out of the money) while he charges 1,000$ per hour is a laughable joke.
Where is the UST?
Just asking. Since McMahon's departure I think I didn't ever see a filling from them anymore.
Are they alive?
Well, many things happened lately.
Debtors tempted the EC with a POR v.7 that would give us (Equity) the control of emerging WMMRC in exchange of 160$ million in debt instruments for the SNHs. Then, if WMMRC got a value of (let's say) 165$ million, it would mean that SNHs get their 160$ million and the rest (5$ goes to Equity). If we sum up all the NOLs we expect can be recovered, we could get into the billions easily.
But for whatever reason the deal didn't work out. So debtors stick to their old plan with POR v.6.5. but I see many inconsistencies here.
- First of all, they don't provide a solution for the 'third party releases'. THJMW stated that she couldn't grant those releases for free, and that was one of the reasons POR v.6 got dismissed but I don't think debtors are working on this issue in POR 6.5. Maybe it was part of the deal in POR.7 but not anymore. Looks like they're applying the ostrich tactic: if you don't see it, it's not there.
- Second point: they don't provide any analysis of the FJR applied to the SNHs with the different waterfall scenarios (TPS for example). Of course it could show under some scenarios A>L and debtors don't want to recognize that.
- Third point: IMHO GSA is falling apart. Aurelius already stated that 'JPM has to put some money into the settlement', and also they pointed out that they didn't commit I.T. fraud because they followed the two (2) confidential agreements signed , and it was the debtor's duty to make them publicly available and they failed in doing so. It looks like BEFORE all parties were together against Equity but now they start to disintegrate and throw other parties under the bus in order to save themselves. Aurelius was the first one, but others will follow for sure, as they get deposed and THJMW compels them to produce the documents requested by the EC.
THJMW... that's the weak point in the chain IMHO. I don't think that she is corrupt. I think (because of her weakness) she just tried to avoid full face confrontation, and when doing so, she always supported the strongest party. For example EC claims are merit-less while JPM and FDIC absurd multi-billion claims are taken into consideration. I think we have to move out of Walrath's Court as fast as we can, or gaining traction with evidences that cannot be contested, appeals to higher courts, and so on.
So, where are we now? If logic applies THJMW should stop this POR 6.5 scam until other issues are solved and decided:
- What about IT charges and FJR applied to SNHs? If also SNH depos show debtors/JPM/FDIC acted in bad faith, it could have very interesting repercussions.
- Who takes care of TPS?
- What about the interests JPM made on 'our' 4$ billion. I think debtors should also be questioned as why didn't they pursue this.
But, as Wamu isn't wonderland, I think Rosen will continue his clown parade with a little wrist slap from Walrath, and until we show some petroleum-black-shiat involving other parties, I think we just can wait to see where this piranha infested river bring our little canoe.
GLTA longs. See if luck meets justice today.
Thank you, I'll do that EOM
Thank you WithCatz. Your explanations in layman-terms and the DD provided makes you the MVP IMHO.
Let's all have a little luck, or was it justice?
that was while por7 was up.
No por7, no control of wmrrc...
and JPM gives a SELL SELL SELL advice
http://www.barchart.com/opinions/stocks/JPM
Hi there Michael.
117 Euros = 165.3444 U.S. dollars
Interesting week ahead, huh?
Good luck guys and girls. We deserve it!!
Radiumsoup it was a fun page!! Thank you for your time and effort.
Hope our wild&wet dreams become true.
GLTA WAMU longs.
Hey wamkq doesn't get any money in your page?
I'm scratching my head.
Good news today and prefs not popping...
Yes, Fiduciary responsibility EOM