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Bribri is a 750$ per hour crook type guy, I don't think he has any intereston being a 'good guy'. EOM
I remember that, but I still don't like BR asking for PSJ's valuation...
As now (per THJMWs decision) new items, assets, NOLs, and different scenarios appear, it's going to be very hard for BriBri and his minions to hide all those moneys.
Really? I don't think so.
I think debtors are going to throw every single penny they find to the outrageous 54 billion $ JPM+FDIC black hole. That, would explain why Bribri is so self confident with PSJ's valuation, whatever it is, and that way, A would still be < L by many many billions, so Equity wouldn't regain control of this tricked BK.
Just my 2 cents.
I remember that, but I still don't like BR asking for PSJ's valuation...
As now (per THJMWs decision) new items, assets, NOLs, and different scenarios appear, it's going to be very hard for BriBri and his minions to hide all those moneys.
Really? I don't think so.
I think debtors are going to throw every single penny they find to the outrageous 54 billion $ JPM+FDIC black hole. That, would explain why Bribri is so self confident with PSJ's valuation, whatever it is, and that way, A would still be < L by many many billions, so Equity wouldn't regain control of this tricked BK.
Just my 2 cents.
Thank you for sharing WithCatz<EOM>
I don't think we're on much better situation though...
What worries me a bit is BR asking for PJS valuation... I don't think he's going to ask for something if he's going to get the risk of having his ass kicked, so probably he knows PJS numbers are not su much great (at least not as great as we, peasants, think they are).
On the other hand, asking for those valuations or ECs work product makes me think BR wants to be sure of what those numbers are, to avoid writing any wrong number (asset list, property valuation, etc) that could make THJMW suspect that Debtors are actually cheating on those numbers, hiding value.
I don't know, I think it's positive for us Equity (we cannot get less than ZERO) but I'm not so sure...
good luck all.
BTW, when is the next major event in Wamuland?
Anyone remembers 'dred scott' ?
I always thought his point of view were very interesting. He hedged WAMUQ commons investment with WMB bonds.
I wonder what he will be doing right now...
I think it was about 160 to 200 million $, but we have these bogus claims from FDIC and JPMC for about 54 billion $ also in the middle.
I think they don't seek anythink but the releases, but I don't know, if more money flows to the state maybe their demands also will increase.
Also debtors will put their pants down and agree to any claim made to them, to avoid money flowing to the Equity, making A>L and thus putting Equity in the drivers seat in this BK case.
All IMHO
In 40 minutes we have beaten the average volume 10k shares traded versus 8k average.
Interesting day ahead, no doubt.
only 1% in the money would make us future owners of WMRCC or emerged WMI and thus, we would be able to benefit 100% of NOLS.
If a third BIG company would like to merge with us, by only paying 1/3rd of the billions in NOLs value, they would benefit from full NOLs value in future gain taxes.
So if we only get 1% in the money, our value should be higher.
Blackhorse proposal is worth a read.
Good luck all.
thank you for your insight.
I trully hope the Court doesn't allow this clown's parade go any further, just as THJMW stated in her opinion.
I hope she keeps asking for more questions about emerging company valuations, just as she stated in her opinion of the POR.
Good luck to all. I think tomorrow will be a decisive day, good or bad, don't know, but we haven't got many more chances to see EC/Susman smashing the enemy. Let's see. I am a bit tired of being kicked in the crotch, LOL.
hello chaarles. What does it mean in layman's terms?
Sorry but it's beyond my understanding. BTW, I sent you an email.
Cheers. Take care.
Today P's should end in the green (unless Ks tank)... due to the 1:35 PPS relation between Ps and Ks
1 WAMPQ = 35 WAMKQ (*)
If Ks are at the 0.51$ mark, Ps should be around 17.85$ and not at the 16.20$ where they are now.
Watch today.
(*) I did this by calculating the alltime PPS relationship between both shares. Actually, the real value is lilke 34.93 which I round to 35.
Sorry, what part of your DD tells you we will see movement on the Ps? Positive or negative?
TIA
140,000shares * 0.037€ = 5,180€
I wouldn't consider it a BIG trade...
From Y!:
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_W/threadview?m=te&bn=86316&tid=697126&mid=-1&tof=9&rt=2&frt=4&off=1#-1
Page 42/108 excerpt of the attached General Terms and Conditions
Specific additonal terms and conditions
The Services are advisory in nature. EY will not render an assurance report or opinion under the Agreement, nor will the Services constitute an audit, review, examination, or other form of attestation as those terms are defined by the American Institute of Certified Public Accountants. None of the Services or any Reports will constitute any legal opinion or advice. We will not conduct a review to detect fraud or illegal acts.
I know, I know... you said it right!!EOM
E/Y scam comming to a theater near you.
From Y!:
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_W/threadview?m=te&bn=86316&tid=697126&mid=-1&tof=9&rt=2&frt=4&off=1#-1
Page 42/108 excerpt of the attached General Terms and Conditions
Specific additonal terms and conditions
The Services are advisory in nature. EY will not render an assurance report or opinion under the Agreement, nor will the Services constitute an audit, review, examination, or other form of attestation as those terms are defined by the American Institute of Certified Public Accountants. None of the Services or any Reports will constitute any legal opinion or advice. We will not conduct a review to detect fraud or illegal acts.
[OT]You (American) guys seem to have a hard time with the metric system, LOL.
For me European, 1 billion is 1.000.000.000.000 (one million millions) but don't worry, we all know what are we talking about.
Note that we also use differently the dots and commas.
I am thinking on the hedgies, so that their lawyer doesn't have to lie when they state that they comply with the 4.50% rule in open court. All IMHO.
They would 'favor' our case or give more power 'to the Evil'?
i'm not aware of those laws, sorry.
TIA
I love it [EOM]
So if NOLs are valued at 35% that would put us in the money?
TIA
I agree your point that what was WMB dependent, IS GONE.
But, I think there should be some kind of list and valuation, as of what really went where, for 1.88 billion.
One of the FDIC's role is/was to maximize the value of the state, so if it can be proven that FDIC sold all the subs/assets without real knowledge of what were they selling, they should be responsible of the losses, not the shareholders.
I think current dissinformation situation is what all non-EC parties need right now.
1.- WMI (debtors) don't want to pursue/find any asset because that would put Equity in control of the BK train, and they would loose any rights on the new WMI company.
2.- JPM doesn't want to show what they really bought because it would be crystal clear they bided too low (also with insider information knowing the true assets they were to get).
3.- FDIC doesn't want to show what they really seized (it was a solvent bank, iliquid at that momento, but solvent). I think they were the dumbs of the movie and this 3.1a list would show they had no clue of the size of the assets/subs they were giving away to JPM.
Just IMHO.
Hello WithCatz.
I think you're one of the MVP around here. Thank you very much for educating us.
I agree with you that there is a difference if 'something' is directly owned by WMI or by WMI through WMB.
You basically say if 'something' is owned by WMB, since it was seized and transferred to JPM, we basically have no case. I don't agree at this point.
I think there's a completly different picture if FDIC seized WMB, than if FDIC seized a fully loaded WMB (with plenty of subs, assets, etc). Maybe it's easier to pursue some recovery if those subs/assets are still currently owned by WMI (which I trully doubt) rather than being transferred to JPM via WMB.
I hope EC knows what they'r looking for and things start turning better for us.
Do you think if EC discovers anything there will be any kind of filling/actions regarding these issues (I don't know, maybe an urgent request for broadening the scope of the Discovery or something like that...)
Thank you in advance.
Is someone watching L2?
I see the same pattern. Price goes down and suddenly a 10 share trade brings the PPS up to $18.75
looks as if someone is trying to maintain the PPS above certain level.
Weird huh?
I've noticed this last minute trading last three days...
Last 3 days, we always start high, then we start sinking, and spend most part of the day under last trade day value, but at the end, in the last minutes, someone buys shares to just increase the PPS a little bit.
3 days ago, it was a $0.10 rise.
2 days ago, it was a $0.20 rise
yesterday it was a $0.35 rise.
It looks as if someone is trying to keep the PPS under the 'radar' but wants to buy as many shares as possible without moving the PPS.
I don't know, this last minute trades, with the biggest volume in all day, with some afterhours trades (I cannot trade afterhours), seem a little bit odd to me.
To see the afterhou thing it's very easy. If you go to finance.google.com it will show you that the trade day ended at $18.40, but for example at this iHub page you'll find it ended at $18.75. Any bets?
Anyone watching L2 can throw some light?
Rossen already locked up all the shares LOL EOM
When do you think they will offered 50% FV?
Right now FDIC/JPM cannot talk to the EC because of the signed GSA with debtors/WMI.
If WAHUQ that are valued at 34$ now are trading for less than 20, if Ps are trading for 18 means they also are expected a recovery fo around 3%.
I don't see how can you tell "Market has valued this stock for that future price (10-20%)"
TIA
Look for the differences between preferred and common treatment.
What did the 'original' (sounds like a joke) Sixth Amended Joint Plan of Affiliated Debtors Pursuant to Chapter 11 of the United States Bankruptcy Code say?
Does anybody have the link to the original one? Looks to me as if they were preparing ground to throw us (prefs) a bone...
Page 65
24.1 Treatment of Preferred Equity Interests: In the event that all Allowed
Claims and Postpetition Interest Claims in respect of Allowed Claims are paid in full (including
with respect to Allowed Subordinated Claims), the Liquidating Trust Interests shall be
redistributed, and holders of Preferred Equity Interests shall be entitled to receive their Pro Rata
Share of Liquidating Trust Interests, to be shared on a pari passu basis with holders of the REIT
Series.
Page 66
26.1 Cancellation of Common Equity Interests: Holders of Common Equity
Interests shall receive no distribution under the Plan. On the Effective Date, all Common Equity
Interests shall be deemed extinguished and the certificates and all other documents representing
such Equity Interests shall be deemed cancelled and of no force and effect.
I recommend dog leashes for those situations.
a half million share trade in FF...
Looks good. Let's see if THJMW and Rosen don't ruin the day.
The mineral thing was the finding of the biggest lithium resources in the world, in Afganistan, not in Iraq.
Guess someone already knew before going to war... I don't believe in coincidences.
Just broke $20.00 barrier. +500 shares (3 trades) traded at $20.00
EOM!!
What's up with FF?
There is no data after 11:00AM aprox.
http://es.finance.yahoo.com/q?s=WMI.F
https://chart.consors.is-teledata.com/module.chart?LANG=de&ID_NOTATION=1554182&QUALITY=BST&TYPE_CHART=STAIR&TIME_SPAN=1D&SHOW_PREV_CLOSE=1&TYPE_IND3=SST&INDICATORS_COLOR1=000000&INDICATORS_COLOR2=00FF00&INDICATORS_COLOR3=0000FF&TYPE_IND5=VOLUME&ID_TYPE_SIZE=
I need help understanding something about the $72.8 billion loan portfolio that JPM bought (*cough**cough*) from WAMU (via FDIC receivership).
JPM now has $72.8 billion portfolio of loans. They claim those are terrible bad performing loans. Let's say all of them quit paying (worst case scenario).
Let's say the assets and properties seized and auctioned by JPM now recover ONLY 10% of their value (worst of worsts case scenarios). JPM gets through auctions $7 billions out of $72.8 billions.
Can anyone explain me what did JPM exactly loose? To my understanding, they got those $72.8 billion of loan portfolios FOR FREE (or for the $1.88 billion they had bidded to the FDIC if you want to say so).
To my understanding, I think WAMU is the one that lost those $72.8 billion loan portfolio without a just compensation. JPM is in a win win scenario to my shortsighted eyes.
Can anyone elaborate a bit?
TIA
Sorry, what's this for? TIA<EOM>
Could there be more than one GSA or are they exclusive?
1.- Current binding GSA ends.
2.- JPM and FDIC (together or independent) sign two different GSAs with both Debtors and EC. That way both parties (debtors and EC) could file competing PORs and start voting process.
Would it be posible?
So, where are we now?
Last year (2010) THJMW asked the parties to submit a document stating that the GSA would extend from 13/12/2010 to 31/1/2011. So they did.
Brain Rotten said he would file a wrap by or before 31/1. He didn't.
So, following what happened last year (THJMW asking for a writen extension of the GSA), IMHO the Court considers the GSA expired; otherwise it should have asked for another writen extension as it did last December.
I have NO IDEA on what's going on, or what's going to happen, but I think Bribri not being able to deliver his tweaked wrap on time is positive news for us shareholders.
Any thoughts on this?