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JWW, you said the following, however, I believe you ARE WAY LOW on the valuation even on the minimum side.
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MONETIZING XOME is still a STRATEGIC INITIATIVE
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JWW, it is obvious COOP does NOT own Xome, otherwise, XOME's value would have a much higher price for COOP. The reason there has not been any deal for Xome is that the investors/TRUSTEE who actually control/own Xome do NOT want Xome SOLD AT THIS POINT IN TIME!
I have no doubt those investors who own Xome are those very investors who signed timely releases by 3/2012 and the ownership of Xome is tied up in a (DST) Delaware Statutory Trust and when there is some sort of definitive action for Xome, then this will be OUR (investors who signed timely releases by 3/2012) notice that we will be in for some sort of distribution (s)
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JWW, you said the following.
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This statement is plain wrong
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If you think COOP owns Xome with no strings attached, then explain how Xome can be worth anywhere from 700M to 1.5B and Wall Street keeps missing this with COOP tremendously and consistently undervalued.
I am sorry but Wall Street does not miss this much of an undervalued stock for years on end.
Doesn’t it gain your curiosity as to why Bray keeps saying for years on end we will monetize Xome but nothing has happened other than lip-service?
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JWW, you said the following, however, I believe you ARE WAY LOW on the valuation even on the minimum side.
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MONETIZING XOME is still a STRATEGIC INITIATIVE
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JWW, it is obvious COOP does NOT own Xome, otherwise, XOME's value would have a much higher price for COOP. The reason there has not been any deal for Xome is that the investors/TRUSTEE who actually control/own Xome do NOT want Xome SOLD AT THIS POINT IN TIME!
I have no doubt those investors who own Xome are those very investors who signed timely releases by 3/2012 and the ownership of Xome is tied up in a (DST) Delaware Statutory Trust and when there is some sort of definitive action for Xome, then this will be OUR (investors who signed timely releases by 3/2012) notice that we will be in for some sort of distribution (s)
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newflow, your questions are very good. So the total evasiveness that WMILT told us about when they filed their cancelation certificate for WMILT on 12/31/2021 tells us they are hiding something very, very large. Otherwise, there would not be continued activity and especially NO REASON whatsoever to say in a filing there will be NO FURTHER UPDATES if in fact they were NOT still working on something. Actions can be very, very telling!
Further, since we know they continued working on actions BY THEIR actions, then this tells us they are not doing this for free and there MUST be some form of assets, cash, certificates, and/or they are dealing with to some type of end...
********AGAIN, ACTIONS CAN BE VERY, VERY TELLING!*********
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Yes, if settlement is not reached this year it could go on for most of next year.
No. This is referencing the belief (I believe the following) that distributions are obfuscated and do not interfere with the fraudulent-made-to-look-legal WaMu BK cases, otherwise how would they explain billions and billions of dollars in distributions from a so-called BK company?
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CWG, here you go the WaMu Recapitalization Letter
http://s.wsj.net/public/resources/documents/WSJ-WAMU-Responsive-e-mails092810.pdf
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The Hague Approval
Thanks goes to BP poster, hold for keeping us updated on Libor8 case.
I now fully believe we see an imminent settlement of 40 to 80 billion with Libor8 since the court approved The Hague move.
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3893 10/31/2023 ORDER GRANTING PLAINTIFFS' UNOPPOSED REQUEST FOR ISSUANCE OF A HAGUE CONVENTION REQUEST FOR INTERNATIONAL JUDICIAL ASSISTANCE TO TAKE TESTIMONY OVERSEAS - ALAN WHITE AND ANDREW REID. The Court GRANTS Plaintiffs' request. Neither this Order, the transmission of the Letters of Request to the UK Special Master pursuant to the Hague Convention, any examination of documents by the UK Special Master, nor the terms of the Letter of Request (which are incorporated into this Order) shall constitute or operate as a waiver or admission of any argument, position, objection, allegation, claim, or defense of Plaintiffs or Defendants in the above-captioned action, including any defense to personal jurisdiction or venue that Defendants have raised or otherwise may have, or of the attorney-client privilege, the work product doctrine, or any other privileges, rights, protections, or prohibitions that may apply to that evidence under the law of the United Kingdom, the United States, the State of New York, or the law of any other applicable state. SO ORDERED. (Signed by Judge Naomi Reice Buchwald on 10/31/23) (yv) Transmission to Orders and Judgments Clerk for processing
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The Hague Approval
Thanks goes to BP poster, hold for keeping us updated on Libor8 case.
I now fully believe we see an imminent settlement of 40 to 80 Billion with Libor8 since the court approved The Hague move.
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3893 10/31/2023 ORDER GRANTING PLAINTIFFS' UNOPPOSED REQUEST FOR ISSUANCE OF A HAGUE CONVENTION REQUEST FOR INTERNATIONAL JUDICIAL ASSISTANCE TO TAKE TESTIMONY OVERSEAS - ALAN WHITE AND ANDREW REID. The Court GRANTS Plaintiffs' request. Neither this Order, the transmission of the Letters of Request to the UK Special Master pursuant to the Hague Convention, any examination of documents by the UK Special Master, nor the terms of the Letter of Request (which are incorporated into this Order) shall constitute or operate as a waiver or admission of any argument, position, objection, allegation, claim, or defense of Plaintiffs or Defendants in the above-captioned action, including any defense to personal jurisdiction or venue that Defendants have raised or otherwise may have, or of the attorney-client privilege, the work product doctrine, or any other privileges, rights, protections, or prohibitions that may apply to that evidence under the law of the United Kingdom, the United States, the State of New York, or the law of any other applicable state. SO ORDERED. (Signed by Judge Naomi Reice Buchwald on 10/31/23) (yv) Transmission to Orders and Judgments Clerk for processing
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HERE IS AN ACCURATE DOCUMENT CONCERNING THE WaMu P & A
PLEASE LOOK UP MEANING of Initial Payment
WaMu Purchase Assumption Agreement
WaMu Purchase Assumption Agreement-SOME NEED TO CONCENTRATE ON THE MEANING OF INITIAL PAYMENT
Maybe there should be further research by the ZERO MONIES RETURNING GROUP but first they need to understand what the term, "INITIAL PAYMENT" means
The end of the WaMu saga will NOT OFFICIALLY end UNTIL the "R" or Receivership has finally been resolved/terminated and closed with FDIC being released.
https://www.fdic.gov/foia/files/washington_mutual_p_and_a.pdf
***PDF Page 20***
ARTICLE VII
BID; INITIAL PAYMENT
$1,888,000,000.00 for the The Assuming Ban has submitted to the Receiver a positive bid of
Assets purchased and Liabilities Assumed hereunder (the "Bid Amount"). On the Payment Date, the Assuming Ban will pay to the Corporation, or the Corporation will pay to the Assuming Ban, as the case may be, the Initial Payment, together with interest on such amount (if the Payment Date is not the day following the day of Ban Closing) from and including the day following Ban Closing to and including the day preceding the Payment Date at the Settlement Interest Rate.
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WMI's sub's outside the bank ( and bank sub's ) aside as a separate issue it spelled out in the P&A
Assets of Ban shall be purchased for the amount, or the amount resulting from the method specified for determining the amount, as specified on Schedule 3.2, except as otherwise may be provided the Failed Ban subject to an option to purchase or other asset purchased for which no purchase price is specified on Schedule 3.2 or otherwise herein shall be purchased at its Book Value. Loans or other assets charged off the Accounting Records of the herein.
SCHEDULE 3.2 - Purchase Price of Assets
(a) cash and receivables from depository Book Value institutions, including cash items in the process of collection, plus interest thereon: securities (exclusive of
(b) the capital stock of Market Value Acquired Subsidiaries), plus interest thereon:
(c) federal funds sold and repurchase Book Value agreements, if any, including interest thereon:
(d) Loans: Book Value
(e) Other Real Estate: Book Value
(f) credit card business, if any, including all Book Value outstanding extensions of credit:
(g) Safe Deposit Boxes and related business, safekeeping business and trust business, if Book Value any:
(h) Records and other documents: Book Value
(i) capital stock of any Acquired Subsidiaries: Book Value
(j) amounts owed to the Failed Ban by any Book Value Acquired Subsidiary:
(k) assets securing Deposits of public money, Book Value to the extent not otherwise purchased hereunder:
(l) Overdrafts of customers: Book Value
Did JPM get WMBfsb? Yes, BUT THEY HAVE TO PAY JUST LIKE IT SAYS in Amended POR 7. That might be a hair-splitting difference but that's the way it is.
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Serafino, interesting that this article was updated and posted by Bill Paatalo on Jun 16, 2023. However, this has been going on for a long time and Bill Paatalo has proven so much but still crickets on any type of distribution to date.
https://bpinvestigativeagency.com/servicing-agent-for-u-s-bank-admits-no-evidence-of-sale-to-wamu-2007-oa5-trust-prior-to-fdic-receivership-of-wamu-on-9-25-2008/
I have always wondered from the get-go how the end of the WaMu travesty would look if any distributions happened because this entire travesty has been blacked out in the worldwide print and media for 15-plus years so the ending would be as important as the other 15-plus years of being blacked out. So how could the criminals at the FDIC/JPM and others make large distributions when they worked so hard to show a fraudulent bankruptcy made to be perfect, especially for historical purposes hence, they would need some sort of cover to obfuscate otherwise, the made perfect bankruptcy would show to be fraudulent?
Remember, the 15B in (SD) Subordinated Debt or the bonds, if brought current, would be around 32B handled by the Texas Insurance Litigators who do NOT lose and have not filed any adversarial cases so far. We have in Tranche Five all SD then Tranched Six is all preferred and common equity which is last in line just like the original Perps (Hedge Funds) had planned (last in line in Tranche Four) if they had been successful in canceling out equity completely. So the Hedge Funds stood last in line in Tranche Four with a Hybrid security, part creditor and part equity called Piers, HOWEVER, the Perps were caught, judge punished them by capping Piers with no further payout and allowed Equity to be last in line to receive ALL SPOILS!
So my guess before distribution is that Libor MUST be settled by the LIBOR-8 for say 70B which would be enough to bring Tranche Five (SD) current plus more left over to distribute to those investors who signed timely releases otherwise, there is no cover for LARGE distributions which in my view CANNOT HAPPEN without total obfuscation.
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Bizreader, you said the following.
I'm entertaining the idea that it will be once again updated with different information about possible distributions given that in the last paragraph, they refer to the Libory suits but don't really, at that time, know what the amounts are.
https://www.fdic.gov/resources/resolutions/bank-failures/failed-bank-list/wamu-settlement.html
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WMILT made it very clear when they filed their certificate of cancelation on 12/31/2020 that there would be NO FURTHER UPDATES OR DISCUSSION concerning WMILT. Obviously, there is more to the story as they indirectly said in the filing there was more to do BUT NO FURTHER UPDATES...More obfuscation to hide the HUGE SAUSAGE otherwise no reason to file ANYTHING other than THE END!
This is NOT OVER UNTIL the FDIC R is released and the WaMu Receivership is officially resolved and terminated.
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Diamond, you said the following.
Blood MONDAY...............coming................????? or a BLOOD BATH week coming ?
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More like a worldwide market crash between now and October of year 2024
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Hey fred, it appears to be a massive rush of filings for the larger Libor8 cases as it they all want a settlement by yearend 2023. I believe some of these filings include Baltimore so must be our case as well.
What you say?
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Here you go thanks to another IHUB poster, RD:
10/23/2023LETTER MOTION for Leave to File Request for International Judicial Assistance (Letter of Request) pursuant to the Hague Convention of 18 March 1970 on the Taking of Evidence Abroad in Civil or Commercial Matters regarding MUFG-BTMU addressed to Judge Naomi Reice Buchwald from James R. Martin dated 10/23/2023. Document filed by FDIC, as receiver, Federal Deposit Insurance, The Federal Deposit Insurance Corporation as Receiver, The Federal Home Loan Mortgage Corporation.
1Supplement Declaration of James R. Martin
2Exhibit A
3Exhibit B
4Exhibit C
5Exhibit D
6Exhibit E
7Exhibit F
8Exhibit G
9Exhibit H
10Exhibit I
11Exhibit J
12Exhibit K
13Exhibit L
14Exhibit M
15Proposed Order granting Issuance of LOR
https://www.docketbird.com/court-cases/In-Re-Libor-Based-Financial-Instruments-Antitrust-Litigation/nysd-1:2011-md-02262
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newflow, you said the following:
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FDIC claims process and who is holding the CERTIFICATE now?
How do I file a claim as a general creditor?
The notice that creditors receive will include instructions and the appropriate forms for filing a claim against the receivership. Documentation of the claim is required and must be submitted in a timely manner. The notice will provide a deadline by which all claims must be filed. Most general creditor claims will be acknowledged or denied by the FDIC within 180 days. A creditor will receive a Receiver's Certificate in the amount of the claim and may receive payments from the receivership as the assets are liquidated.
https://www.fdic.gov/consumers/banking/facts/creditors.html
WMILT exists as a Winding-up entity. IMO otherwise who would take care of estates claims as a creditor and shareholders?
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Very interesting as we know the two people who know where all the bodies are buried especially the trigger for payment when presented must be paid within a preset time that was established years ago under sealed docs.
Yes, good ole Charles Smith and Doreen Logan are the only two left BY DESIGN and remember once WMILT filed their certificate of cancellation on December 31, 2021 and miscellaneous details finished no later than March 31, 2022, they advised there would not be any further updates from WMILT PERIOD. However, those two VIPs know where the bodies are and when to present the final bill to the Powers-That-Be which they must pay within agreed upon timeframe with no questions ask or further delays.
I believe we are getting very close to distributions in my view.
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Newflow, perfect! Thanks for sharing the filing again and this should bring a huge LIGHTBULB MOMENT to many here once they reread this refresher filings or it should!
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Newflow, yes, good points and we agree with this but just may have been worded differently. As I was saying, tranche five are the 15 to 35B in SD and or bonds then tranche six for all preferred equity interests and common equity interests
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BBANBOB, yes, I fully believe we NOW know the trigger for distributions and/or payouts and that is the LIBOR8 CASE. Once the FDIC announces a settlement with LIBOR8 which I believe will be in the neighborhood of 50 to 85 billion and the MONEY actually transfers to the FDIC then from THIS point which may be two or three months we should see some distributions.
So if Libor8 is settled in late December of the year 2023 we should see distributions by late March of the year 2024 and if we see the settlement in April of the year 2024 then we should see distributions by late July 2024, just in time for the entire MARKET CRASH of year 2024 and in time for the POTUS election in November of the year 2024!
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BBANBOB, Exactly. Otherwise, how would the Powers-That-Be explain around 15B being paid to cover the (SD) Subordinated Debt (bonds) in Tranche Five of the former WaMu BK cases? So, according to the payout Matrix, the SD of 15B is ahead of the former Preferred and Common shares that are in Tranche Six waiting for eventual distributions
Without Libor to play cover for the 15B in payout to the SD controlled by the Texas Insurance Litigators, (who by the way have not filed any current adversary filings for their huge returns) it would look like the entire former WaMu bk cases would be fraudulent, so for current and historical reasons, the former WaMu BK cases must look very legal without questions or facts to prove otherwise so we wait for Libor to settle, thus providing cover for the payouts/distributions.
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Fred you said the following:
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USA's economy is in a fake tsunami, imo........gonna be a RE-SET, at a minimum............probably worse............something is BROKEN
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I say the collapse of the worldwide markets WILL HAPPEN between MAY and MID-OCTOBER of the year 2024, HOWEVER until that point, the markets continue higher.
The evil CABAL will need to keep the markets going higher until Trump's reelection landslide where 70% plus of American Citizens will vote for him USING PAPER BALLOTS and VOTER ID...(yes, this will happen so wait, watch and see)
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The GOOD will need to topple the MORE THAN BANKRUPT US SYSTEM BEFORE the Trump reelection total wipeout and landslide of early November 2024
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RD, yes, Edgar did the numbers and that email but WithCatz took it a step further and engineered that calculator.
WithCatz then changed his screen name to Catz then all but disappeared several years ago after having some admin duties with Board Post.
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RD, you said the following:
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Use "calculator" created by Edgar Sargent , Susman Group and A & A
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Edgar Sargent DID NOT create the calculator you refer to and this has been discussed many times over the years. Former poster, WithCatz designed and implemented this calculator
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MAGIC MONEY DISTRIBUTION/NOTIFICATION
1) By yearend 2023 = 40% chance
2) By April 01, 2024 = 80% chance
Just my thoughts
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MAGIC MONEY DISTRIBUTION/NOTIFICATION
1) By yearend 2023 = 40% chance
2) By April 01, 2024 = 80% chance
Just my thoughts
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Newflow, good find and due diligence. Hmmmm…complete WIND-UP in year 2023 with MUST DISTRIBUTE by yearend 2023?
This MAY BE correct but as usual will have to wait and see with time passing and filings show us the way forward
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Serafino1, a former Executive of a large company and do not remember the name said a couple of years ago what we are waiting on is called MAGIC MONEY!
He advised this type of distribution will just appear one day as if it came out of thin air hence the nickname of MAGIC MONEY.
I expect within six months Libor will be settled and Tranche Five in the former WaMu bk where the 15B sits waiting to be paid by JPM then at the same time or thereabouts Tranche Six will be advised of forthcoming distributions of MAGIC MONEY
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Thank you, Eli, Sidedraft, and iPleude. This has been out since 9/5/2023 but very interesting as we should be seeing the final closeout of UWBKQ very soon, I would think.
https://storage.courtlistener.com/recap/gov.uscourts.cob.364850/gov.uscourts.cob.364850.757.0.pdf
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Now very close to something? Let us all hope distributions happen before the final closeout but then that would make this case look wrong because no monies left according to final closeout posted a while back.
So if we get anything at all, it appears it will happen on the sly POST final closeout of Receivership but who knows…Fred…hehehehe
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Well Fred, this all sounds good. How long will it take for the money to actually transfer to the FDIC? This could be months or even a year or as little as 30 to 60 days which would mean we MAY see monies by yearend 2023 and/or within the first three months of year 2024.
What YOU say, Fred?
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I thought you were waiting for the Libor case in Baltimore to settle. It seems this is a different case
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Fred, you said.
LIBOR/sterling/sonterra secretly settles.
I thought you would view this as good news
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Hey fred, does this mean anything to you at this point?
CWG, obviously, you must think they would show Safe Harbor assets within a fraudulent-made-legal bankruptcy case (s), and sorry, that is not how it works.
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CWG, you asked the following.
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What does “Total Assets”mean to you?
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If you look at the Pie Chart at the bottom of page 7 this will give you an idea of how the players handled their monies and yes, I know, this totally EXCLUDES 299B in WaMu assets but should help give you an idea they were not deposits or they would have NO DOUBT pointed this out.
There is no way to answer your question because they hid 299B of WaMu assets HOWEVER, at a bare minimum there is tremendous money to be made from a base of 300B even if WaMu did not own the monies. Think about this really hard, Why would they hide the money? In my view, it would prove WaMu was never legally bankrupt among many more very important points about assets.
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CWG, here is what the words say from the Horse's mouth. Further, at the bottom of page 7, you will find the following verbiage.
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' Excludes WAMU with total assets of $299 billion and zero estimated losses to the DIF
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FDIC TRULY states HUNDREDS of BILLIONS in WaMu Assets - Yes, HUNDREDS of BILLIONS
https://www.fdic.gov/about/strategic/corporate/cfo_report_3rdqtr_15/0915_cfo_report.pdf
***Bottom of page 7***
Excludes WAMU with total assets of $299 billion and zero estimated losses to the DIF
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Hey fred, you said the following:
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.UBS tactic will backfire, but it really gives a SIGN that UBS wants to settle LIBOR..........very cool..
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It appears (if the letter is true) that they want to discuss settlement rather than litigate. Wow, if this is true then it would appear that reasonable people should be able to get to a settlement within a few weeks or even days. Guilt has already been assigned so just a matter of HOW MUCH LARGE GREEN.
This mess could be over by the end of October followed by distributions by yearend or nudged into 2024.
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Well fred as Mel Fisher would always say, "TODAY IS THE DAY" and maybe late Friday is THE DAY. This is also the end of the quarter which also makes sense. Regardless, we should be no longer than a week or two at the most if not today.
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Fred, well we saw the final filing that did not include anything for us around a month or so ago. So we should be seeing the final closeout with case terminated any day. Maybe even today after hours as the FDIC seems to like to do filings on Friday.
So if we see the case terminated then that tells me we have been hosed however if we see monies any day then the termination of the case would follow and to me makes the most sense.
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