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So could you sell all but one share, vote no, then buy back in?
Ilene, just to be clear, Robert Johnson, a lawyer for the Creditors' Committee, went on the record that the preferred shares are in the money?
Thank you Ilene. Did you get to talk to any of the EC lawyers?
How much money do you normally invest on one of your calls?
what do you think about buying call options for these instead of buying the stocks?
Less then 2 weeks, and that includes Thanksgiving!eom
I don't think she can approve it until they do a hearing on it, which I believe won't be until late March.
Should I follow you even if I don't have $25,000 to fully day trade with?
should i follow you even if i don't have 25k?
Is CCTR diluting?
Why does the price keep dropping when there are buys coming in? Are the MMs just sitting on this one?
Very good, but...
You have to have something representing the Fed, which encouraged the banks to make such stupid loans with artificially low interest rates.
When do you look to sell? I usually start around 20%.
I've got almost 300k. I hope the wackers will get out by tomorrow.
I wish this would run...
Didn't they already file the appeal?
hopefully big in a good way for us.eom
I <3 Money Runners!!!
At least her decision will be easy to overturn.eom
I guess we should buy first thing tomorrow morning?
I don't know if that is true or not, but this is the same guy that said the FDIC can't be sued, but they won't agree to settle unless they get releases anyway.
That was my thought too...I'm not saying that is the case, but it could be the reason for the silence.
It should be easy to get that ruling overturned...
It isn't 3.9b, they willingly gave that up in the GSA. It is 2.5b that they're getting in tax refunds.
So it can afford to boost its dividend but it can't give up 2.5b or it will collapse?
SG probably feels they have a good shot of winning, since the first thing SS did when he joined the case was to ask for this to be put in the hands of a 3rd party examiner.
S/G is known for taking cases on a contingency basis, so that is good, but I still don't know how badly the FDIC and JPM want to pay for those releases.
I sure hope those releases are as important as everyone seems to think they are. Regardless, I bet SG knows already, as I they have probably already contacted FDIC & JPMC about the issue.
Thanks for the quick profits!!
I think it is more then the JPM and FDIC releases. The WMI BOD, A&M, etc will probably want releases as well and if they can't get them, they probably won't let JPM & FDIC waltz off into the sunset.
I believe SS clerked for Hugo Black, and Justin Nelson clerked for O'Conner.
Jpm agreed to release all claims of the 4b in the GSA. It should be easy to win the 4b even if it is not in JMW's court.
I was rereading Ilene's post #200305 and #200321. When she talked to Mr. Susman in person back in May, he said that it wasn't time for the EC to speak up. She also got the impression that he tends to hod the info back until the right time and is very good at reading people.
I wonder if now is the right time for the EC to say something...
Uh....I guess because if the 2nd largest bank in the country is a mere 2.5b from collapse (remember, JPM gave up the 4b for 2.5b in NOLS), we're all screwed? I don't know. If that is her reasoning for not giving the 4b to WMI, we should be able to it rip appart in appeal.
"The Court disagrees with the Plan Objectors. The collapse
of WMB itself demonstrates that bank deposits (especially in the amount of $4 billion) may not be easily collectible without resulting in another bank collapse."
The real big problem with her ruling about this is that JPM already has agreed to turn over the 4b in the GSA! They are getting 2.5b back, but I have a tough time believing the 2nd largest bank in the country, a bank that routinely awards multiple times that amount to their executives in yearly bonuses, can't turn that over without collapsing.
I don't think Hs are officially preferred, the judge doesn't know what they are at this point.
So the 2011 NOLS can be added to the estate today, they're not capital carry forwards that can only be used after WMI comes out of bk?
I didn't get that either, I thought if NOLS go to the debtors, we're in a lot of money.
Actually it was negotiated by the creditors' committee, led by the hedge funds, who would have been the only owners of the new company and its billions of NOLS had JMW approved the POR.