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For those who think deleted markers were the end of escrows, tell the hedge funds that, because their markers were also deleted. Ha!
We knew this would all take many years to resolve. They knew it too and that's why they haven't sued the FDIC. They know what's coming. And Dimon's recent about face was another example of the changing tide. We will get paid and he knows it. Can't delay any longer.
Libor settles this spring/summer. Then the FDIC R closes and the waterfall happens. So many avenues for escrow payments. Ask Mr Bonderman.
Nothing in our accounts after 15 yrs, plus a very corrupt government and banking system and FDIC made this a long shot, sorry.
I am not Polyanna and I threw out my rose colored glasses years ago.
Whats inspired my newfound confidence has been Libor. I now think we could finally see money.
That release could open the floodgates to further payments from money thats been hidden all these years.
I find Dimons epiphany interesting. He knows what will happen with Libor. Many new millionaires putting money in his bank.
Plus dont forget that JPM holds escrows so they in essence pay themselves and his hedge fund buds.
Win win. We only hold 30% of the escrows.
Coattails
I have a buddy who PMs with bop and says she is a genuine type person who cares about the posters and their financial well being from this fiasco. Otherwise why would she waste her time? Is she going to be right? Who knows. He thinks we have a good shot that she is right.
I have put the majority here on ignore. Don't care what they have to say. They may end up being right, that we get nothing.
BUT, I like our chances because of Libor. If it wasn't for that I'd be doubtful. Vast corruption! If we only get Libor I'd be shocked though. I think there are 5 avenues for bucks. Some may take time. some may be soon after Libor settles.
Posting on boards can be an obsession for some. It's like that's all they have to do. I do it way more than I should. But we are close to a payment event. Once paid my posting days will be over. Too busy spending money then.
Did I say she was an employee???
I said, worked for, not worked at. Cmon man. Have you ever kissed a girl???
Bop's worked for JPM, BOA, and DB. Have we? No.
So she has contacts we don't. Wish we knew more about her "source". But I don't think she made that up. Why would she?
10B is par. Not bad. That's life changing money for most here. The average retailer has 300 Ps. Not a lot. But 300 Ps would be $300K. That's a nice paycheck. I bet many would love to get that check in the mail......
Bop is a bk attorney, we're not.
That doesnt mean she will be right. But her educated guesses are maybe better than ours. Time will tell. I appreciate her opinions.
My gut says it'll be closer to 10b, hold2wms guesstimate. But thats still a helluva lot of money.
FDIC sued for 400b.
So 50-100b is possible. I think Judge Naomi understands how we got screwed with derivatives and will decide accordingly. I feel good about our chances for Libor justice.
I'm not sure how bop thinks we will get 90% of the settlement but who knows? We should hear something any time between now and Oct as hold2wm said.
COOP will do very well. 2.5% of 50-100b is possible.
10b is very conservative
IF the WMI owned mineral rights are in trust with the other assets the total value will be astronomical.
I wont guess the number.
Lets see how this plays out. Lets get Libor done! Then the waterfall can begin. Libor should bring us at least 10b. Great start for escrowers.
This saga will wrap up in phases over time.
Libor is phase one.
Some will pay in cash. Some stock and divvies.
Nobody knows the when where and how.
My guess is Libor any time now.
Remember, the government needs money injected into this economy now. The FDIC is broke.
The Libor settlement is the last impediment to the waterfall.
Remember Janice Hearns said the FDIC cannot close the receivership until litigation is complete. There are a few small cases but nothing that can hold things up after Libor.
I wouldn't buy a new car or house now though! Let's wait and see if something shows up in our accounts first! Maybe Ole AZ will have to buy a mansion with a 10 car garage for the new vette collection he will buy...life's short so I hope he does that! After 15 years of stress we are due.
FDIC gets minimum 10% of Libor. So if the final group gets 100b they get a cool 10b. Not bad.
FDIC is broke and they need money desperately so I expect a quick settlement. Otherwise they have to borrow from the Fed which they dont want to do!
Funny how this may work out. The very agency that screwed Wamu may end up being our benefactor. Full circle.
Nothings guaranteed but this is sure looking interesting now.
As always IMO.
Once Libor wraps up the waterfall will rival Niagara Falls.
Look, if anyone thinks the hedge funds are not 100% involved and focused right now youre crazy. They know full well what may likely happen.
They arent billionaires because they are stupid.
Coattails
Wow! Don't mess with Arizona bikers! LOL
Its been said JPM is responsible for the bonds. So maybe they will pay them as part of the Libor settlement.
Chase has great new anti fraud systems in place. AMEX is the most secure for credit cards. Credit unions dont pay well so sketchy people can infiltrate them. I think many fraud cases are inside jobs with unscrupulous employees who have full access to our info.
I hate Chase for what they did to Wamu, but they are the best out there. I did extensive investigations into all this after I was hacked online. Fraud is rampant so be very careful!!!
Mypennys. So sorry. Lots of evil people out there these days.
I'd say close those accounts and start new accounts with Chase.
Only use Amex for credit card transactions. They have the best fraud protection.
Always use 2 step verification.
Check your accounts online daily to catch any questionable fraud.
Never use your personal cards for online transactions.
Chase recommends opening a separate small account just for online transactions and just put a thousand or two in that account.
Use these methods and you should be fine.
As for your escrow account that should be fine. Put 2 step verification on that just in case we get paid. You can also tell your broker that no withdrawals be made from your escrow account unless you go to a branch in person and show picture ID to withdraw funds or do any transactions.
Good luck.
It had everything. Like sitting in a high tech supercar. Don't know what make it was. LOL
I think dreams can have meaning. Having 3 large checks handed to me was nice....but alas I woke up! Let's hope it did have meaning. Certainly $10,000 per P would buy me a nice sportscar! I can race AZ in his vette!
Bop said each new P will likely be worth $10,000. So she must expect at least 100b coming back.
Hope shes right.
I had a cool, long dream last night. A guy gave me 3 big checks. I was rich! I decided I was going to buy a hot new sportscar. They delivered it. It was an amazing jet black car. I took it for a drive but was afraid to park it anywhere for fear it would get damaged or scratched! But it was awesome to drive around!
If I get rich I promise Ill share it with those in need, and the animals...
As bop has surmised, our Ps will be replaced by new Ps. I wonder if true that those Ps will be COOP or JPM!
Yes, Libor discovery must be filed by 4/4.
I say this settles before then or JPM BOA will get hit very hard with several hundred billion.
FDIC wants 400B. The Judge will make sure they pay much more.
So yes, I believe this will be settled before 4/4. Theyd be stupid not to.
We shall see.
I love the ignore feature. Now I see, and read, only the posters I want to. To each his own.
Highly recommend the feature.
As for the W9....as Ron has stated numerous times, yes, if you filled out a W9 at release you are golden.
As for Libor....we think we may be close to some sort of settlement. It could go till 4/4/24 or longer, or it could happen any day. I've always said that payment would come when we least expect it. We will wake up to good news one day.
I am now re-reading a "sudden money" book that will explain how to prepare for that day should it come. Never take advice from someone on a message board. Always get a professional if you get money.
Bop and a few others think Ps will be replaced with new preferreds. That would be great if those went into an IRA and we could just cash them in when we want to and pay tax then when the tax rate is more favorable. Qs may be bought out in a private deal and those would be cash only most likely.
Anyway, who knows? Nobody does. Not me or anyone else here. We take educated guesses. but I believe we have a 90 - 10 chance of getting money. I used to be 50 - 50 so this is a big change in confidence for me.
GLTA
Its the Sunday morning doofus brigade.
I do feel sorry for those who do not have escrows...
Dumb and Dumber! Lol
Funny how these doofuses pat each other on the back.
The Doofus Brothers
Tell that to Savitz, Tepper, and Bonderman....
Agree Ron. Libor is the key to open the floodgates.
If we get money from Libor people should get a financial advisor immediately because much more would likely follow.
You can't handle the truth.
Look folks, I want this board to be informative. The ignore feature works great. I appreciate those who bring their DD and theories here. Fact is, they/we only have to be right once. Glad that Ihub gives us this venue.
My best guess is we will get 10-20B sometimes this year. I might be wrong. I think LIBOR offers us the first real chance of money. If that happens it could open the flood gates to all the other avenues of payment. We shall see.
I am a realist not a dreamer.
I rely on the facts as presented. I think we have a great chance to get paid.
But after 15 yrs of theories and hypotheticals its important to be realistic.
I tell it like it is. So go ahead and ignore me. I dont give a flying F.
But I will continue to tell it like it is.
I am 90 10 that we will get some money.
Will it be 800b? Cmon man.
Keep it real.
Ill be happy with 10b coming back. I think we have a good shot at that happening. I hope it is more but its unfair to get peoples hopes up.
Reality check.
But we have coattails and Susman and Naomi. So we have a shot.
Since you love Mary ask her why all the redactions and seal. What was there to hide from us all? Oh yeah, she did a great job. She was such a champion of our cause that she said we wouldn't get anything! Ha. Yep, you love her. Go buy furniture together. She sold us out, along with the WAMU employees. She should have demanded that 30B Dimon later found be distributed back to the employees and shareholders. Instead she gave it to Dimon. Great judge.
Look Bob, yes I "believe" we will get Libor.
I am 90-10 on that. But there is still that 10 because we've been screwed so many times. Do you know with 100% certainty that we will get paid? I don't trust our judicial system. I do think Judge Naomi is our knight in shining armor and we will get a good result/settlement. But again nothing is 100% these days.
As for DCR, payment for the bank, assets, minerals, et al. Are we 100% on those? Are you? I know we are due those. But will we ever see any of that money. Let's hope the hedgies are not dishrags and will aggressively pursue all that. Its been 15 long years.
I blame Scary Mary for having the facts under seal and redacted.
Unconscionable.
But it looks like we will at least get Libor. Unless they screw us out of that too!
What a mess our judicial system is these days.
Ive heard that Ron but if so where is it? Vanished. Just like the 30b bonus handed to Dimon.
WMI screwed up putting 4b into WAMU just days before seizure and Walrat gave it to JPM. Such corruption!
Not to mention the 30b JPM "found" in the rubble 2 yrs later that she also let Dimon keep. May those who did this to the employees and shareholders rot in hell.
Plus WMI knew all this was going to happen so all assets were well protected in advance. We are golden.
Yes Libor case is going to get hit for 400b. That doesnt mean they will give the FDIC that much in settlement.
But 100b is very likely. Maybe 200b.
So yes Wamu gets the bulk. 90% not sure. But most.
Do some reading.
Talk to bop about that. She sees it as a non issue.
Bob, there are indeed other Libor banks in this final group, but they are small, a few million here and there. You should know this since you follow BP.
So other than those few millions, the FDIC will get 10% and Wamu estate gets around 90%, maybe a bit less.
So on Libor, we ride the coattails of the FDIC. They will get as a big a pot as possible because they desperately need funds. They are corrupt and spend their money like drunken sailors. I have inside info on how f'd up that agency is. They are on the verge of asking the FED for money, so they need this Libor money badly.
The stars are aligning. Plus the Susman firm is involved. Don't downplay the significance of their involvement at this crucial time! The success of the escrow payout is Steve's legacy and his colleagues want it to happen and will work hard on our behalf.
Nothing is guaranteed. I used to be 50-50 on us every seeing any payment. Now I am 90-10.
On an aside, I encourage all to use the ignore feature on this board. It has made the board awesome for me. I've weeded out the bad seeds and it's enjoyable here now.
2024: The year of the escrows.
LIBOR 100B minimum. 90% goes to Wamu escrows per bop and others.
100B is chump change for JPM. They need to settle because Judge Naomi is no lightweight (like the other one) and if this goes to trial it will be 400B or more. This will settle.
Now, will we get 90B? As much as I'd love to see that I doubt it. 10B is my guess to make Ps whole. Then they can do a P exchange for new Ps, even steven. Clean deal. Hoping for something this spring or sooner.
Its all connecting. Interesting timing with Libor.
Even just 200Ps is $200k for every 10b coming back.
So if 8 par comes back thats 1.6mm. Not bad!