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i know they are sueing jpm too. but the majority of assets were "gifted" to barclay's the same way wamu was "gifted" to jpm. jpm is also involved but the mass of the liability still falls to barclays. seems the res. banks that were bestowed upon are now getting out their "return receipts" to get the cash back from santa claus. me thinks they are way in too deep with too many eyes watching the fallout.
no the lehman case is not about jpig. it is about barclays and the rothschilds. they own both jpig and barclays! why do you think they're hiding behind black rock right now? check the article about the "money matrix" online it is very revealing about the hoax that is the fed reserve. and yes, this could very well be settled at the same time to rid everyone of their "black eyes" and that way they only have to go to the trough one time in their global payout of lawsuits and settlement of the mortgage fiasco.
thats right don, my providian card has wamu on the front, chase on the back in small print. they tried to change my interest rate to no avail. i questioned how they could change the rate when they couldnt prove they had "paid" for providian because it was a wholly owned sub of wmi. i demanded proof before the contract could be changed! needless to say i have had a zero interest card for 2 1/2 years. that should tell you something. and on top of that they earmarked my account by adding a suffix to my username of "wmc4189" (washington mutual corp plus the orig date of my card.) that leads me to believe that providian will be returned.and i also sent a letter to my attorney's general about the rate hike. and they amended the account to say that it could only be changed, interest rate wise, only if i make any further charges to the card after a specific date. that is how they got around the whole ownership thing. (i know you know this but its for others that havent seen the previous posts) also a little side note....why would lehmans judge be coming out saying he never ok'd the sale of lehman last week also? the case is not on the docket till april 2012? just askin'? maybe a "global agreement" to settle both cases so they dont have to go back to the trough twice?
exactly don, why is there a need for redaction at all if everything was on the up and up. they are in a world of hurt...fdic,rosen,weil,jpm,bair etc. this was a bank heist pure and simple. and when the takedown happened to wrile the feathers of the bod, i feel jpm and sheila bair told them to play along and they would get a cut. they never figured the shareholders were slicker than they were. this week is going to be awesome. with the new congress coming in what better to clean house with and make an example of, than to expose the corruption of and coverup in this case. redaction is so they can save their own hides. why would congress pass legislation so no other shareholdwer group of a bank has recourse in court over takedowns in the future? because wamu is going to cost the govt as well as the fed reserve a "mint" to make things "go away" without the american taxpayer knowing. this week is going to be amazing. jmo.
God bless you and your family oilstrike. glad to see you back and posting. and happy wamu day to you...soon! sf
sorry to hear about your dad. i prayed for him continuously oilstrike. i'm glad to see you back where you belong. sf
we certainly do have the right guy to take us there. but something tells me they've pressed their luck as far as they could and have already settled. nelson seemed too relaxed to me. jmo.
absolutely! the fdic had no authority to circumvent the ots. they had no authority to touch anything to do with washington mutual. the holding company was the sole owner of the banks stocks and the credit card company providian. they had the "kill" order from paulson and the fed reserves backing to surround wamu like a pack of wolves and take it down. and certainly dont forget the emails from senators and congressmen in on the outing of ots to create the "crisis" they needed to get tarp passed. i wonder how much its going to cost the "establishment" to keep the crime underwraps?
it is true. wmb stock was always held by the holding company. it was never offered to the public.
also, how could the children (shareholders) be held liable for money hungry, drunk in a stuper parents(bod)? if the parents are corrupt it doesnt make the kids corrupt. they are innocent bystanders that are made to suffer. i think judge mary sees this now and will intervene as our "guardian-ad-litem.". :)
don, on fox news last night the reporter said that taxpayers will now be on the hook for bailing out fannie and freddie to the tune of 363 billion dollars in the next months. hmmm....what struck me was the number.....is 363 billion not the total price for wamu and wmi? maybe they're funneling the money through fannie and freddie to pay for wamu and wmi so the funding of this case arent found out. my belief all along....the taxpayer will be the one paying the tab not jpm and not fdic. why would this exact number come out now? makes me think we're getting ready to settle. jmo.
thats right cwg, the lawyer is only as good as the facts he's defending. and by rosen's own admission he has none. this is pure "fake it till you make it...or are found out." i'm not worried at all this board has "investigated this to death." we know the facts and they only add up for us.
jds, you are right on the money! she has absolutely trapped him and hochberg is going to finish him off with the report.
maybe not. but they do know what is ownedby the bank and what is a wholly owned subsidiary of the holding company. and can go down that list to see if it was swiped by jpm and if they profited from it and then adjust the numbers accordingly if wmi does or doesnt want it going to jpm. and i also believe the numbers from the examiner will be redacted to everyone except the court players until settlement numbers are arrived at. the assets that were fraudulently taken will never have a (published for the masses) amount put to them. it will be a "collective" settlement by fdic and jpm so nothing can be figured out by the american people to smokescreen the whole case.
you are right. but hochberg is no slouch. this man is VERY thorough. he will find all assets. rosen will not put the true acquisitions on paper because the 1.88 billion is not a true number and if the A>L walrath couldnt keep the case in bk court ..by law she would have to allow wmi to reorganize because there is a cap on monies that can be "shown" in bk court. and they will never be "shown." i think even with the examiner report all amounts will be redacted, then paid by jpm and fdic, and then locked away before the change of power in congress. this is crunch time and they know it.
uz, think about it...rosen doesnt want to put numbers down on paper either. he could then be prosecuted. a continuance was just so they could say its moving forward. the examiner will be the litmus test. they (rosen and the gang) get a sneak peek at the damages and gives fdic and jpm the time to determine who is paying out what and how much...back to the wmi estate!
i think this is a slam dunk for us. she is "allowing" rosen to proceed. how better to prove the collusion than seeing the numbers they are pushing. the big desparity in numbers will show they were hiding assets and offsetting debt so they could show a<l. the examiner's report will refute this and they will then have to settle. this whole day was scripted and posturing on rosen and fdic's part. always watch the opposing hand in a slight of hand game. it always shows the truth...not the left keeping the attention.
we're all little people in the hands of a few. but the attorneys are in survival mode...theirs! they know if this is not settled before the change of power, they are opening themselves up to prosecution. all the things passed by dems could be repealed and FOIA could resume and sec, fdic, jpm,gs all could be prosecuted for collusion,fraud,etc. that dodd act was their last ditch effort to cover their butts so congressmen and women involved arent found out either. this is the squeeze that is going to get wmi to resolution faster! the unknown is now scaring the perps.
the new republican congress could change or nullify the cox/frank act so that sec,fdic,jpm,gs, etc could be investigated for fraud and corruption. and the foia that is now on lockdown and sec doesnt have to reply anymore could be overturned too. these guys are scared that prosecution could happen when the powers that be change in washington. jmo
yanik, you are right. the criminal part will rear its ugly head with this examiner report. thats why my opinion is...that jpm and fdic want the nov1-nov4th "viewing" to see what the damages are. that way they have time to put out their "spin" on how terrible wamu was and how they saved the economy from the brink. then i feel they will settle and lock this all away saving their own hides from criminal trial. boy, its great to have people in high places...meaning anthony mazullo. that bastard only had to pay something like 500 million for his get out of jail free card. and chris cox made sure his favor, of low priced loans for his own properties, were returned by rewarding mazullo with his freedom. meanwhile mazullo destroyed so many lives with no consequence just a slap on the wrist.
he didnt do that for us. we were just an indirect beneficiary. goldman and jpm and the rest of the fed reserve banks were in dire straits and needed something to offset or fudge their losses and debts. it wasnt for wamu believe me. BO had to help the one's that "bought and paid" for his election! (check charles gasparino's new book if you dont believe me.)
i dont think susman would allow a stock settlement. what if after we receive the shares jpm does file bk just to do it. then commons are toast. there is no foia or protection for shareholders after wamu and lehman because of the frank/dodd act. and i wouldnt put it past them to do it saying they needed to trim the fat and consolidate. they do have upwards of 1.2 trillion in debt..they are insolvent! susman is not stupid...i think cash is king in this equation. and i think pref will see new shares in wmi. theres a difference in being acquired because of true insolvency and being stolen and solvent. would you allow someone, that stole your car with your family in it, to marry your wife and have your kids call him daddy...then give you a worthless IOU for a later date (which is what jpm stock is. it is no better than citicorps stock going around and around at 4.25 to 4.35 on 450 million share volume day after day)
and a "so sorry letter in the mailbox?" how stupid do people think susman is? he has these jokers over a barrel. there is money there! all they have to do is put the printing press in high gear!
the level of redactment and secrecy initially shows that jpm and fdic dont want these numbers made public. they want a sneak peek at the river before they fold. that's not allowed. pay up or give it up. there is no cheating in Susman's Texas hold'em!
wmi and the board of directors were definite players in this heist. but do not forget the company belongs to the shareholders!
i'll take the 1% chance that it will and i'll raise you 20 to 40!
the BOD was not inept. they knew exactly what they were doing. they wanted to out the shareholders to split the pot. weil was representing HIS best interest not the interest of the estate. with the total disregard for the law this firm showed should get them some major time behind bars.
susman will not settle for 2.53 common guaranteed! he is working for us not them and the more we make the more he makes. this is the biggest bank heist in american history, collusion with a fed reserve bank and the fdic to destroy an american bank will see us no less than 80 but more like 100.00/shr.
absolutely ww, in the savings and loan scandal they had to return the banks. why not now? i say " if they dont cough up the funds...throw them out on their bunz!"
the only one that it is a problem for is jpm and fdic. judge could order a reversal very easily since there was no contract to begin with. its easy to get "squatters" out ...throw them out. the employees were previous wamu employees anyway. all they would have to do is throw a switch on all the depositors accounts they stole from wamu and return them and wmi is back in business! i guess the fdic never learned from the savings and loan scandal. history repeats itself once again, fdic just couldnt wait the two generational spans needed before rearing their ugly heads once again. people havent forgotten about the previous scandal and that why i knew there was something up when this whole thing went down. too much like the previous one.
i dont know of anything in NY except the fed. what are they doing...hanging van gogh in the new york banks that fdic are running for wamu? and illegally i might add. if they take stolen property out of one state without paying for it its STOLEN!
jhdf51, it certainly makes me ill also. and the fact that the BOD and management didnt file an inquiry into their hurried seizure by fdic at time of takedown speaks volumes. collusion on the part of BOD...i think so. they were just too quiet about the thursday seizure dont you think? the fix was in by both sides. they certainly didnt think they would be fighting this long and hard against shareholders. what did they think? that we were a bunch of homer simpsons? doh!
EXACTLY CWG!!!! 15 x 10 = 150.00!!! ding, ding, ding....we have a winner! thanks for the backup.
if jpm declared bk what would they declare? everything they have is stolen and tied up in court. they own nothing of substance. with i think, 62 trillion in bad credit default swaps floating around the world that they are responsible for selling as good paper, they need to be making money not paying it out! you can only lie for so long then you forget the first lie you told and the house of cards comes tumbling down!
i saw that the night it happened. that was when i started looking into this stock because you could tell everyone knew but us!
jpm will be the absolute last bank to go bk. the congress and senate's pensions are held within this bank. think they'll let it go down? no! on top of that even if jpm did go down, wmi would be made whole again because there was never a contract inked for the sale of their bank. the best thing that could happen is a class action of shareholders from all the banks swindled by jpm and the forced sale of the bank and liquidation to return the stolen goods to the rightful owners. but that will surely never happen. rothschild's will never let it happen. our govt would go down before they would lose a dime!
this whole thing has got to be wrapped up soon. the mortgages jpm have been trying to foreclose on, they dont own, because there is no contract for the sale of wamu and the spotlight is on them because of it.
i saw it first!!!
i just figure bear stearns initially got $2/shr then whined and got $10/shr. they had what... 1/100th of the banks wamu has. correct me if im wrong but i think they had 22 banks. thats at least 100/share without damages. i truly think it will be at least that if not more unless a great amount of the banks are returned to wmi for resale at a later date. jmo.
i think the initial huge swing will be with pref. i got out of 1/2 my position in commons and bought pref at 35. when it does another run up i will sell 1/2 of that pref position and buy back in commons. since the pref are so thin they will definitely be the the ones to watch. the commons are so diluted with "air shares" i think it will just stay diluted till payout. they certainly dont want a change in cusip...thats why i think they will just continue to dilute until payout so they wont have to cover in the end. the last time the run up happened pref were at 80 and up to 130/shr. sure is alot more money to be made in pref at 35 up to 130 than .18 up to .70. and all the engineered dips in between. im all for the spike! and pref are that. unless your count on commons are in the 100,000's to millions i would at least put 1/2 in pref and then 1/2 in commons then play them off each other. they never seem to run together always seems to run opposite days. that way the other half you still have to trade is free to sell on the big dips and flips and your never out of the move or waiting on settlement of monies for trading. hope this helps! sf
also wamuer's ...check your 401ks and your iras to see if the funds you invest in have real estate investments in them. they said its not only the real estate market that is going to be affected by this foreclosure crisis but the hedge and investment funds who use it for backing.