Lovin' it !
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BP agrees to put about $20 bln in Escrow Account for the Gulf Spills Claims
and
Pay Czar Feinberg to Oversee BP Spills-Claims Fund
Just hit the wire......
AEZS is looking juicy here at 1.16 x 1.17 imo.
They just did a direct offering at 1.37 and should be moving back up soon.
All classes are completely worthless and have no value backing them, so it is about time imo.
Shorts win AGAIN !
Freddie will be delisting its common AND all issuances of its preferred as well.
LOL
There's no need for that my friend. Just keep on doing what you've been doing, and I'll be happy. This is clearly the best board on the planet, and anyone who can't see that doesn't deserve to benefit from the YAK'$ PICK$ .
: ^ )
Thanks again!
Just gave you mark # 1,000 .
I never post, but I always watch.
Thanks for all of the ATM picks!!!!!!
YAK's picks = FREE MONEY !!!!!!!!!!!!!!!
Really??? What is the book value of the stock right now??? How much debt and post-petition interest stand in the way of equity??? How many claims that aren't even reported as liabilities stand in the way of equity ?????
These are the things that many people simply do not like to discuss.
If it was an irrelevant clog, then it would have been shot down immediately. However, that did not happen for several reasons, and by the way, Rosen wasn't even the one arguing the points related to the production of work papers.
When are the shares going to be cancelled?
You all know it is just a matter of time before equity is completely wiped out right????
The underlying value definitely does not support the current price of this POS, and that is a FACT !!!!
It fails to take into account the tens and tens and tens and tens of billions of dollars in capital JPM had to raise in order to absorb the WaMu portfolio among other things.
Oh, I'm sure he's right and the market is wrong because "the market doesn't understand the "awesome power" of bankruptcy" , like many like to claim.
I didn't miss anything, Weil and Rosen are still in complete control, and little Justing and "the great judge" were/are unfamiliar with applicable case law and precedent relating to the production of work documents.
There have been soooo many "victories" for equity " and "losses" by Rosen, yet magically the market continues to "mis-price" the equity. LOL Must be "mm manipulation".
What do you think the value of the WaMu Mortgage Backed Securities tells a reasonable person????
That valuation filed by Dr. Sankarshan Acharya FAILS to mention the FACT that tens and tens and tens and tens and tens and tens and tens and tens of BILLIONS of dollars worth of assets were complete JUNK and the FACT that the reported "assets" were completely over-stated.
By the way, Weil will not have to turn over work product (even though self-proclaimed internet "lawyers", like bopfan, state otherwise), and it was great live entertainment watching little Justin and "the great judge" get completely schooled .
value = ZERO
2 times value = ZERO
2 times value "plus" = ZERO
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"THEY DIDNT ABSORB CRAP IN LIABILITIES!!! FACT!!!
You're incorrect. On a bank's balance sheet deposits are a liability. JPM took over all deposits / liabilities of Wamu.
What I did say was,
Quote:
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JPM did the government and the US taxpayers a favor by absorbing the losses.
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JPM has had to continue to increase their loan loss reserves for the assets / loans that were on Wamu's balance sheet.
That is a fact.
The firm also set aside less in reserves to cover expected loan losses than in the past. It still has on hand more than $39 billion, or 5.6 percent of total loans, but that represents a decrease from previous quarters. The company said it put aside $2.3 billion in litigation reserves, which includes funds for mortgage-related lawsuits.
http://www.washingtonpost.com/wp-dyn/content/article/2010/04/14/AR2010041400981.html
As was pointed out in the senate hearings
From 2000 to 2007, WaMu and an affiliate, the Long Beach Mortgage Company, packaged and sold at least $77 billion in subprime mortgages, the panel found. It sold or securitized an even greater amount in adjustable-rate mortgages, or A.R.M.’s.
By 2006, WaMu’s internal records show, it was one of the country’s largest originators of “option A.R.M.” loans.
That all came to an end the next year, when the housing market teetered. By the middle of 2007, WaMu shut down Long Beach; by the end of the year, a Long Beach employee was charged with taking kickbacks to process fraudulent or substandard loans.
The documents revealed an extensive pattern of lax underwriting and fraudulent lending that inevitably led to delinquency and foreclosure.
For example, one internal investigation found high rates of “confirmed fraud” in two top loan-producing offices in southern California. But the subcommittee said that “no steps were taken to address the problems, and no investors who purchased loans originated by these offices were notified.” "
http://www.nytimes.com/2010/04/13/business/13wamu.html?pagewanted=print
"Well there is at least $77B of the supposed $300B in assets at Wamu. All junk.[/b] "
Courtesy of BullNBear52 :
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=50327234
"Strong close" of 204 shares at .36 ????
It was a dumpathon all day, and it was NOT a strong close !
The company is a REAL JOKE, and the "business plan" is even more of a joke. Real estate to internet apps. LOL
CDIV REEKS of SCAM .
Don't worry, it's going to go a WHOLE LOT LOWER THAN .28 . It will go back down to the 10 cent range and catch a bounce, then back to the penny range and get a nice bounce, and then ultimately it will go back to sub-penny range.
And they will continue to sell "the team" phantom shares all day long, every day of the week.
They know that CDIV is overvalued by approximately 99%, and they know that it is going to come crashing down.
Real investors will never come into CDIV, and the attempts at promotion and upward manipulation by certain parties gets weaker and weaker EVERYDAY.
The shorts will cover when CDIV is back in the sub-penny range.
The reason the smart money is shorting is because they know that there are NO REAL BUYERS in the CDIV market.
The only people buying are a people that are part of a trading team that try their hardest to manipulate the price of the stock upwards.
CDIV is going to CRASH HARD, and if one is not in the stock right now, then do not try to catch the falling knife.
The trend is down, and the trend will continue.
Nice ask slapping?????
I guess I didn't know that a whole $6,650 at the ask was considered "nice ask slapping" .
The "BIG MONEY" is rolling in now.
CDIV will crash to under 20 cents, then under 10 cents, and the downtrend will continue.
Buy in now and hold, and you will lose most of your market value.
Smart money found/is finding shares to short as this is going nowhere but down.
Gotta love the 13% spread on this POS !!!!!!
It is not going to be pretty when it becomes public knowledge that a trading team manipulated the price of CDIV upward, and those that were involved with the upward manipulation will indeed feel the wrath of THE LAW.
It will take a little more time for action to be taken, but don't worry, the truth will come out about CDIV and the trading action surrounding it.
CDIV is a complete POS. There is nothing but downside from here.
The recent runs-up were the result of upward manipulation that did nothing but create bagholders.
Check it out. There is a 5 cent spread on a 38 cent stock and there is absolutely NO BUYING INTEREST WHATSOEVER.
When this POS falls, it is definitely going to fall VERY VERY HARD!!!!!!
Lehkq is worth even less than toilet paper.
When the reorg plan gets approved, shares of lehkq will literally be worth zero dollars and zero cents.
There is a 0% chance of that happening.
Have a good day!
Up another 11% today. I'm still all in.
It's going to $2.20 .
: ^ )
ALL-IN on JAV !
Hopefully you decided to pull the trigger.
Shorts are going to get crushed, and those that decide not to pull the trigger will be kicking themselves imo.
The $2.20/share tender offer is still on the table.
Have a good day!
Gotta go.....................
Keep CCE on your long-term watch list. When the market breaks down, it should test its 200-day SMA.
Shareholders will be getting a $10 per share CASH special dividend as a result of the merger, and when the merger is complete shareholders will get shares of the newly re-organized company.
I have links saved somewhere but don't have time to dig them up right now.
All in all, CCE is an excellent long-term investment which could also pop-up by $8-10 in the shorter term imo.
Gotta go, have a good day...................
I got in a little too early, but I'm holding this one and not trading it.
If today's news was actually bad, there would be a hell of a lot more than 6 million shares traded by now, and Hospira wouldn't have extended their $2.20/share tender offer to June 2nd.
I say it will be over $2/share in a week.
LOL. I hear ya. I've got the rough fingertips/lips from breaking open the sunflower seeds for 2-3 hours per day. haha
Hey man. I'm doing well!
I haven't been trading very much lately, but JAV is unjustly being worked over right now. I still do the scans for the big decliners and with the tender offer out there at $2.20 , and it was actually even extended today (even after the recall news) until June 2nd, it is safe to say that those who sold/got stopped out/shorted it today are going to get screwed with their pants on.
Those who buy today in the 1.20-1.30 range will be thanking themselves in a big way imo....
OT: I'm trying to quit smoking. Haven't had a puff for 4 weeks. I've been running a lot and got over 50 miles in last week.
JAV
Time to snatch 'em up in the 1.30 area.
Should make a nice move here.
There was a recall in Europe on one of their products, but there is a tender offer out at $2.20/share from Hospira
Hope you are well!!!
JAV
It's time to snatch 'em up in the 1.30s .
They submitted their plan before the end of the exclusive period, and it does not need to be approved before the 27th.
Those that claim that WMI has lost exclusivity need to familiarize themselves with the process.
The global settlement is not an illusion. It is very REAL.
3 x Zero = ZERO Keep it simple, keep it REAL.
That is exactly what he was trying to say. He claimed that WMI loses exclusivity if the plan isn't approved by the 27th. He is trying to make the representation that the plan cannot be approved after the 26th which simply isn't true.
The plan simply needs to be submitted before exclusivity ends.
It does not need to be approved before the 27th.
Those that claim that WMI loses exclusivity if the POR is not approved by the 27th are simply unfamiliar with the process.
Sorry.
Actually, the DS and the Plan have all of the necessary information in order for Walrath to sign-off on them.
Those that actually believe that equity will get paid for their shares simply don't understand receivership and/or bankruptcy.
They gave up billions in legal claims to eliminate billions in legal claims that were filed against them.
The disclosure is skillfully crafted and indeed contains "adequate information" . It contains everything that it should contain per THE LAW.
It is a masterpiece.
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