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I honestly can't believe that so many people are putting money into this stock right now , especially considering what's ahead for JPM .
Nothing like trapping yourself.
How about welcoming a reversal with tears of joy along with accepting a HUGE settlement to boot.
At first I thought that this guy was possibly representing Washington Mutual Inc as defense counsel in one of those BS class-action lawsuits against Killinger et. all, but I was unable to find an active case in which Wolfe represents Washington Mutual Inc, which leads me to believe that they are using his services to investigate fraud of individuals/parties that performed illegal acts performed against Washington Mutual Inc.
I could be wrong, but who better to investigate fraud in a prosecutorial manner than a defense attorney.
I doubt anything will happen by Monday, but I would definitely accept a reversal at any time, as would everyone here.
It really is a shame how greed and carelessness destroyed most of the progress that had been made by a lot of companies, not just C .
Those bankers and traders got way too risky, and now everybody is paying the price.
I would like to C atleast a few of them rot in prison, especially little Jamie Dimon.
I'm not convinced that we'll C that happen, but I wouldn't be surpised if Dimon is gone sooner than later.
FYI- I heard back from a Chief Editor at Bloomberg regarding a detailed message I sent to him that addressed "possible" fraudulent activity by little Jamie, and he has forwarded it to a lady who covers JPM. Probably won't C anything in the news immediately, but I am still confident that the worst is yet to come for JP Morgan and little Jamie Dimon.
You got it.
Keep 'em locked up tight ladies and gentleman.
Set your sell orders ridiculously high.
I have an ask for mine in at $2.50 just for $#its and giggles.
Boy were they wrong. I don't think that is ever going to happen.
It is kind of ironic that the new liberal President is putting a stop to free handouts that were given away to WallStreet and Banks under the Republican Administration.
I think C will continue to be a flipper's stock for quite some time, and I also wouldn't be surpised if they are pressured into selling more of their assets.
We'll C what happens.
I don't know, but I know who my vote for the biggest FRAUD is.
His name rhymes with Lamie Hymen .
Good move not holding JPM right now.
WallStreet was waiting for another free handout from the Government, but instead, Geithner announced that they would be freeing up the credit market in different ways.
Too bad WallStreet.
They were also waiting for him to tell everybody that the Government would be buying up all of the bad assets right away.
Not going to happen.
Check out this guy's areas of expertise.
The Law Office of John W. Wolfe, P.S.
701 Fifth Avenue, Suite 6100, Seattle, Washington 98104
Telephone: 206-467-9088 Fax: 206-447-9374
Limited to Criminal Defense and Fraud Litigation
http://www.lawyers.com/wolfeleinbach/
It always seems to work like that.
Just when you think "the bottom" has arrived, the price goes down.
Can't blame the bid sitters. They are the smart ones, and they are the ones that help keep 'em cheap.
FYI- I've bought some a lot higher that .14 .
So why do you think there is no detailed breakdown of this guy's work?
2/10/2009 0812229-680 0676 First Monthly Application of John W. Wolfe, P.S., as Special Counsel for the Debtors, for Allowance of Compensation for Professional Services Rendered From October 27, 2008 Through November 26, 2008
http://www.kccllc.net/documents/0812229/0812229090210000000000008.pdf
IMO, this is the reason there is no volume on the Ks.
Most of these guys have been accumulating.
Better yet, most of these guys have been hoarding.
If they could, they would buy up every last share of WAMKQ.
http://www.otcbb.com/asp/tradeact_mv.asp?SearchBy=issue&Issue=WAMKQ&SortBy=volume&Month=1-1-2009&IMAGE1.x=18&IMAGE1.y=8
Down 2.66 today.
I could be wrong, but I just don't see this going up 2.66 tomorrow.
What do you all think?
I was not a shareholder of Washington Mutual Inc, Washington Mutual Bank, or Washington Mutual Bank (fsb) at the time of the seizure, and I lost no money as a result of the unjust seizure and illegal firesale of the seized assets.
I have, however, been in contact with the FDIC, the Department of Justice, the Obama Administration, and a well-known news organization, and I am confident that the WaMu "deal" will not stand as is.
JPM shareholders better hope that the FDIC settles the claim filed by WMI, because if they don't, a fraudulent conveyance claim is headed their way.
I know that the whole truth will never be told, but anyone who thinks this sale will stand as is naive.
http://en.wikipedia.org/wiki/Na%C3%AFve
I suggest that all JPM investors increase their familiarity with THE LAW before they continue to invest in a company like JP Morgan.
How much more is JP Morgan going to have to pay for WaMu?
That is the question you should all be asking yourselves.
If JPM was a healthy bank, they would repay all of the TARP funds they received tomorrow.
However, the TARP money can only be paid back on common equity, not earnings.
Here's what Cramer had to say earlier today. He doesn't think that JPM's balance sheet is too good, and anybody that knows anything at all about accounting would agree with him and would not invest in them.
http://www.thestreet.com/video/10462561/cramer-tarp-to-buy-common.html?puc=_booyah_html_pla1&cm_ven=EMAIL_booyah_html&s=1
Hmmm, now I know why JPM hasn't paid back the TARP money that they didn't "want or need", according to little Jamie Dimon.
If JPM wasn't the FED's bank, they would have been belly up a long time ago.
IMO, if you invest in the EVIL company that is JPM, you deserve everything you get.
Just keep on telling yourself whatever you have to in order to feel better.
You claim that the bank stocks were down because the market was down.
You have it completely wrong.
The market was down because the bank stocks were down.
I actually hate it when people don't have a clue.
The whole sector was dumping because the traders and bankers wanted Geithner to come out and tell everybody that they would be giving boatloads of cash to the banks.
Those days are over because that is not a sufficient solution to the problem.
I would highly recommend that you do not invest in JPM.
If you are, you are just asking to get burned.
It is my firm belief that Jamie Dimon is a complete FRAUD, and his actions are going to be devastating to JPM.
I wouldn't believe a word that guy says, and you can be certain that he does not care about you, or any other investor.
I'll bet that we do not see .09 tomorrow.
We might see .09 sometime again, but not tomorrow.
If .09 rolls around again, it will be a blessing in disguise.
Anyone who doesn't like the stagnant pps is likely not an investor and is a trader.
If you are a trader, I suggest you find another stock.
Sure, you can try and trade this stock, but I would recommend accumulating and holding.
The pps on this stock, and on all WMI securities, is completely irrelevant, and the pps does not accurately reflect the true value of each of these securities.
Hahahahaha.
I wish it was me.
I like to see NITE pushing this up though.
Hopefully they are the ones that bought all of those shares and are planning on running this one up pretty soon.
Good Day Sunshine !
Looks like AMNE is headed in the right direction.
Did you catch the 3,400,000 share trade ?
This was just carelessness on their part.
If you are going to lie, you better make sure that there isn't any proof out there that contradicts what you are saying.
The bottom line is that JPM investors have been/are being misled by Jamie Dimon.
The January 15th conference call is only 1 example of this.
It is very simple.
If they knew what they got in the "deal", then the response in court was fraudulently filed.
If they didn't know what they got in the "deal", then Jamie Dimon misled/is misleading investors.
Please provide a valid argument against mine.
The market is down because the bank stocks (and some others) are down 10-20 % .
The drop in pps isn't due to a large # of shorts.
There are hardly any shorts out there.
IMO, if you buy in now, you are going to trap yourself.
Also, the WaMu "deal" isn't over yet my friends.
I am not someone who lost money on the WaMu "deal", but it is clear that wrongdoing and corruption by JPM and the FDIC (which are only 2 of the guilty parties involved) surrounded the WaMu "deal".
I have contacted the JPM Investor Relations Team, and I suggest you all do the same. Here is a copy of my last correspondence sent to them.
Enjoy!
"Good Evening Kaye.
I appreciate JP Morgan Investor relations responding to my original inquiry, but was disappointed that your response did not include any information and only asked for my telephone number. I did respond back and provided you with my phone number, and
I was looking forward to hearing back from you via the telephone, however, I did not receive a call today.
If you could please provide a valid response to the issues raised in my e-mail, it would be very much appreciated.
I do not have a problem with speaking to you over the phone, however, I would respectfully request that you provide a legitimate response in writing, or in the form of an electronic correspondence so that I can properly document your response to the questions raised in my original message and in the following message.
I consider the WaMu acquisition to be a very serious matter, and there seems to be some inconsistencies with JPM's accounting for, and explanation of the acquisition. These inconsistencies exist between what I heard on the January 15th conference call, what I've read in News articles, and what JP Morgan has presented in the Washington Mutual Inc bankruptcy case.
As I stated in my original e-mail, it is clear the JP Morgan acquired WaMu for far less than FAIR VALUE, and the recording of the assets as negative goodwill is clear support for this fact. It is amazing to me that $307 Billion in assets can be purchased for only $1.9 billion, which is why I originally asked how much more JP Morgan is planning on paying for WaMu.
In addition, on the January 15th conference call, Mr. Dimon stated that the acquisition of WaMu will add $.50 per share profits in the quarters to come. This indicates that JP Morgan knows exactly what they acquired in the WaMu deal.
http://www.shareholder.com/visitors/event/build2/mediapresentation.cfm?companyid=ONE&mediaid=34878&mediauserid=3542001&TID=544455153:4359AACA2188DDA533E8E04845206C59&popupcheck=0&shexp=200902080107&shkey=a3ab13e1f826aea391e63a9d1adedef5&player=1
However, there seems to be some inconsistencies in Mr. Dimon's statements compared to JPM's objection to the Bar Date for filing proofs of claim in the Washington Mutual Inc case. In JPM's objection to the setting of the Bar Date, JPM requested that the Court either deny the Motion to set the bar date, or exempt JP Morgan Chase from any bar date the Court may set for the reasons listed in the response and objection. Item 19 in the following document states that "This case poses an unprecedented range and volume of factual questions for JPMorgan Chase to investigate." Item 18 in the following document states that the recently filed schedules of WMI "confounds rather than clarifies a number of the open issues relating to JPMorgan Chase because the Debtors claim interests in property that clearly should belong to the buyer of the receivership assets. " Item 18 goes on to state that "There are too many open questions regarding these assets, contracts purchased and employee pension, and other payments made, to require JPMorgan Chase to submit a claim by March 31, 2009." Item 17 , in the following document, states that "Rather, as JPMorgan Chase has previously made clear, it is in most senses a stranger to these Debtors and in these proceedings." and goes on to state that "JPMorgan Chase's disputes with the Debtors are disputes over the ownership of assets as between a regulated financial institution in receivership and its paren holding company in bankruptcy, and the rights of setoff that exist to secure those intercompany liabilities and claims". Item 16, in the following document, states that "The contracts, licenses, assets, and liabilities in dispute may be those in which WMI is asserting ownership or other rights when JPMorgan Chase believes the relationship, asset or agreement in question appears to be part of WMB's banking activities, to be included in the regulatory capital of WMB, or otherwise to have been bought and paid for by WMB or its subsidiaries. In those situations, JPMorgan Chase believes that title MAY have been passed from the FDIC to JPMorgan Chase. Even if JPMorgan Chase is mistaken, a dispute of this nature and import ought not to be classified as a "claim" to be summarily adjudicated, estimated, or classified as part of a claims process in the Title 11 proceedings of WMB'S former parent holding company."
http://www.kccllc.net/documents/0812229/0812229090122000000000001.pdf
Now I could go right down the numbered list in this court document and provide you with every example that shows that JPMorgan Chase can not say with certaintly what they acquired, or what is even legally theirs, but I will not do that. I wanted to provide you with enough quotes from JP Morgan's response and limited objection to motion of the debtors for an order, pursuant to section 502(b)(9) of the bankruptcy code, Bankruptcy Rules 2002a7, f,I, and 3003c3, and local rule 2002-1e, Establishing the Deadline For Filing Proofs of Claim and Approving the Form and Manner of Notice Thereof, that provide a far different reality of the grasp JPM has on the assets that were part of the WaMu acquisition than the grasp Mr. Dimon provided on the January 15th conference call.
So, in addition to my request for your best estimate as to how much more JPM is planning on paying for WaMu, whether payment is to the FDIC or to Washington Mutual Inc, to atleast make up for the negative goodwill that was recorded as a result of the purchase, I am also respectfully requesting an explanation as to why it is that Mr. Dimon told shareholders that WaMu will bring $.50/share profit in the future, when the court documents make it clear that JP Morgan doesn't even know exactly what was acquired.
To me, either Mr. Dimon wasn't being truthful on the January 15th conference call regarding the WaMu acquisition and the effects the acquisition will have on the price per share, OR JPMorgan Chase Bank's Response and Limited Objection, referenced above , was fraudulent in its drafting and submission in court.
Either JPM knows what it acquired, or it does not know what it acquired.
If JPM does know exactly what was acquired, then most, if not all, of the items listed in the court document provided above were both fraudulent and misleading. If JPM knew what was acquired , the JPM would not have asked for more time from the court to settle "disputes over the ownership of assets as between a regulated financial institution in receivership and its parent holding company in bankruptcy" . Number 15, in the court document referenced above, states "The examples provided are only two of the dozens of analogous situations that have arisen. JPMorgan Chase does not believe that at the end of the day there should be any serious dispute in most situations, but the Debtors have taken the position on more than one occasion, orally and in writing, that JPMorgan Chase's actions with respect to assets JPMorgan Chase acquired from the FDIC amount to a violation of the automatic stay because the Debtors assert a claim over the same assets."
I am of the opinion that JP Morgan Chase does not know what is legally theirs, and therefore the above filing was not fraudulent and misleading The above filing by JP Morgan Chase obviously proves that JPM does not know with any certainty what assets were acquired, and therefore can not, and should not even attempt to speculate as to what value the acquisition will have on JPM's share price, nor should they just assume that the Court will rule in such a way that supports JPM's "understanding" of who owns what.
So, since it is clear that JPM does not know what was acquired, nor do they know who has rightful ownership of assets in this case, and since as you put it , there are "dozens of analogous situations that have arisen", I am deeply troubled by the apparent misleading and fraudulent statements made by Mr. Dimon during the January 15th, 2009 Conference Call.
If JPM does not know exactly what was acquired, the Mr. Dimon misled investors on the January 15th Conference Call with regards to the acquisition of WaMu and the effect the acquisition will have on the share price of JPM.
I would very much appreciate a valid and appropriate response to the serious issues addressed in this correspondence, and I would very much appreciate it if Mr. Dimon would fully disclose to shareholders, and the Public, the uncertainty surrounding the ownership of assets and the "dozens of analogous situations that have arisen", as by failing to do so, I fear that Mr. Dimon is jeopardizing whatever is left of the integrity and trustworthiness in the JP Morgan name.
Misleading investors, especially by the CEO of a company like JP Morgan Chase, is a very serious matter and I expect a very serious response to this message.
I am giving you the benefit of the doubt, and I am also giving you the chance to respond to my inquiries so that you can clear up the confusion surrounding the value of the WaMu acquisition.
Please respond either in writing or in the form of an electronic correspondence.
Once such correspondence is received, I will review it, and at that time, I feel that a conversation over the telephone would be very warranted.
Thank you kindly for your time, and I very much look forward to hearing from you in the near future.
Have a great night!
Sincerely,"
If they don't need any cash, then that means they have plenty of cash.
If they have plenty of cash, then why are there so many investors DUMPING their shares ?
You'd think if JPM was "healthy" there would be more support.
The chart looks good .
Where is the bottom ?
Is there a reverse split on the horizon?
Will Jamie Dimon end up in prison?
I personally believe that Jamie Dimon lied to investors on the January 15th Conference call regarding the $.50 earnings per share the WaMu "acquisition" will bring.
What do you all think?
HR 1 ,as amended, just passed the Senate.
ayes = 61
nayes = 37
Now it goes to the House.
Exactly.
If they are planning on cancelling the commons, then why would they care about how many commons and Ps people own?
If they are going to cancel them, they wouldn't even spend any time or money on anything that has anything to do with stock ownership.
If you want direct, I will directly tell you that I plan to buy as many of these shares as possible, and I hope this drops to .00001 so I can buy an insane amount of them.
It is more effective than sitting back and doing nothing like you are probably doing.
These e-mails are step 1.
Thanks for your opinion, but you apparently have no idea how the real world works.
"it´s o.K, but useless!"
Thanks for your expert opinion.
I disagree.
If you think WMI doesn't seem to know what to do, then apparently you haven't been following the case.
The only part of the process that will take years, is the lawsuit against the FDIC if they do not settle.
You also seem to not understand HQ. HQ will not be paid in full until the year 2041 .
It doesn't matter to me if she responds.
I blind cc'd the DOJ on my message as well.
I was sending it to simply express my opinion that Jamie Dimon fraudulently misled investors on the 1/15/09 conference call.
They can ignore me if they want, but I am going to be sending repeated messages to them.
I don't have anything else I'd rather do than be a perpetual thorn in the side of JP Morgan and their investor relations team.
When they received messages like that, there is proper protocol they must follow.
If they thought that was accusatory, they better hold onto to their hats when I really turn it on.
Also, I am fairly certain that investor relations teams, be they JPM or any other company, are not specifically accessible to shareholders only.
Either way, JPM can eat me, and I'm not even close to done yet.
I hope it hovers too.
IMO some people are going to get filled at .115 tomorrow, maybe even .11 .
This is good stuff.
This document is filled with words like "subsidiary unwind transaction , merger agreements, mergers of subsidiaries, timing, dividends, renewal", etc.
It looks like they are merging their Nevada and California subs for sure.(page 39)
They are going to continue conducting business in Seattle for sure.
If anyone still feels like this is going to end in liquidation, then they should wake up.
Washington Mutual Inc is going to continue to operate.
Also, I don't see a buyout from JPM happening.
I hope this isn't too harsh for anybody, but selling the company to JPM, would be like selling your daughter to the guy who raped her.
Probably not going to happen.
http://www.kccllc.net/documents/0812229/0812229090209000000000032.pdf
Whoooo Hooooo!
It is regarding a possible conversion in the future.
They need to know how many series-Rs are out there, and they need to make sure that there are enough "authorized but not issued" commons to cover a possible conversion.
imo
There has been reference to a conversion of the series-Rs in past court documents, along with reference to the drafting of a letter to be sent to the series-R holders.
I am not expecting a timely response, but I am expecting a response.
I also wanted to let them know that they are full of it, without using those words.
IMO Dimon and the gang are shooting themselves in the face by the way they have handled this whole "deal", but the bottom line is, Dimon can tell his investors that the WaMu will increase profits by $.50/share, but if he can't actually support his statements, and/or the court documents filed by his company contradict what he says to his investors, then I do believe Mr Dimon can get in big trouble.
I too feel that my message will be forwarded on to legal, and the lovely Kaye will be told either to not respond or will be told what she should/has to say.
I truly do feel that they can't have it both ways.
If they know what they got, then their court docs are fraudulent.
If they don't know what they got, then their conference call was fraudulent.
hahahahaha
Check this out.
I just sent it to Kaye from the JPM Investor Relations Team.
I think you guys will like it.
Enjoy!
Good Evening Kaye.
I appreciate JP Morgan Investor relations responding to my original inquiry, but was disappointed that your response did not include any information and only asked for my telephone number. I did respond back and provided you with my phone number, and
I was looking forward to hearing back from you via the telephone, however, I did not receive a call today.
If you could please provide a valid response to the issues raised in my e-mail, it would be very much appreciated.
I do not have a problem with speaking to you over the phone, however, I would respectfully request that you provide a legitimate response in writing, or in the form of an electronic correspondence so that I can properly document your response to the questions raised in my original message and in the following message.
I consider the WaMu acquisition to be a very serious matter, and there seems to be some inconsistencies with JPM's accounting for, and explanation of the acquisition. These inconsistencies exist between what I heard on the January 15th conference call, what I've read in News articles, and what JP Morgan has presented in the Washington Mutual Inc bankruptcy case.
As I stated in my original e-mail, it is clear the JP Morgan acquired WaMu for far less than FAIR VALUE, and the recording of the assets as negative goodwill is clear support for this fact. It is amazing to me that $307 Billion in assets can be purchased for only $1.9 billion, which is why I originally asked how much more JP Morgan is planning on paying for WaMu.
In addition, on the January 15th conference call, Mr. Dimon stated that the acquisition of WaMu will add $.50 per share profits in the quarters to come. This indicates that JP Morgan knows exactly what they acquired in the WaMu deal.
http://www.shareholder.com/visitors/event/build2/mediapresentation.cfm?companyid=ONE&mediaid=34878&mediauserid=3542001&TID=544455153:4359AACA2188DDA533E8E04845206C59&popupcheck=0&shexp=200902080107&shkey=a3ab13e1f826aea391e63a9d1adedef5&player=1
However, there seems to be some inconsistencies in Mr. Dimon's statements compared to JPM's objection to the Bar Date for filing proofs of claim in the Washington Mutual Inc case. In JPM's objection to the setting of the Bar Date, JPM requested that the Court either deny the Motion to set the bar date, or exempt JP Morgan Chase from any bar date the Court may set for the reasons listed in the response and objection. Item 19 in the following document states that "This case poses an unprecedented range and volume of factual questions for JPMorgan Chase to investigate." Item 18 in the following document states that the recently filed schedules of WMI "confounds rather than clarifies a number of the open issues relating to JPMorgan Chase because the Debtors claim interests in property that clearly should belong to the buyer of the receivership assets. " Item 18 goes on to state that "There are too many open questions regarding these assets, contracts purchased and employee pension, and other payments made, to require JPMorgan Chase to submit a claim by March 31, 2009." Item 17 , in the following document, states that "Rather, as JPMorgan Chase has previously made clear, it is in most senses a stranger to these Debtors and in these proceedings." and goes on to state that "JPMorgan Chase's disputes with the Debtors are disputes over the ownership of assets as between a regulated financial institution in receivership and its paren holding company in bankruptcy, and the rights of setoff that exist to secure those intercompany liabilities and claims". Item 16, in the following document, states that "The contracts, licenses, assets, and liabilities in dispute may be those in which WMI is asserting ownership or other rights when JPMorgan Chase believes the relationship, asset or agreement in question appears to be part of WMB's banking activities, to be included in the regulatory capital of WMB, or otherwise to have been bought and paid for by WMB or its subsidiaries. In those situations, JPMorgan Chase believes that title MAY have been passed from the FDIC to JPMorgan Chase. Even if JPMorgan Chase is mistaken, a dispute of this nature and import ought not to be classified as a "claim" to be summarily adjudicated, estimated, or classified as part of a claims process in the Title 11 proceedings of WMB'S former parent holding company."
http://www.kccllc.net/documents/0812229/0812229090122000000000001.pdf
Now I could go right down the numbered list in this court document and provide you with every example that shows that JPMorgan Chase can not say with certaintly what they acquired, or what is even legally theirs, but I will not do that. I wanted to provide you with enough quotes from JP Morgan's response and limited objection to motion of the debtors for an order, pursuant to section 502(b)(9) of the bankruptcy code, Bankruptcy Rules 2002a7, f,I, and 3003c3, and local rule 2002-1e, Establishing the Deadline For Filing Proofs of Claim and Approving the Form and Manner of Notice Thereof, that provide a far different reality of the grasp JPM has on the assets that were part of the WaMu acquisition than the grasp Mr. Dimon provided on the January 15th conference call.
So, in addition to my request for your best estimate as to how much more JPM is planning on paying for WaMu, whether payment is to the FDIC or to Washington Mutual Inc, to atleast make up for the negative goodwill that was recorded as a result of the purchase, I am also respectfully requesting an explanation as to why it is that Mr. Dimon told shareholders that WaMu will bring $.50/share profit in the future, when the court documents make it clear that JP Morgan doesn't even know exactly what was acquired.
To me, either Mr. Dimon wasn't being truthful on the January 15th conference call regarding the WaMu acquisition and the effects the acquisition will have on the price per share, OR JPMorgan Chase Bank's Response and Limited Objection, referenced above , was fraudulent in its drafting and submission in court.
Either JPM knows what it acquired, or it does not know what it acquired.
If JPM does know exactly what was acquired, then most, if not all, of the items listed in the court document provided above were both fraudulent and misleading. If JPM knew what was acquired , the JPM would not have asked for more time from the court to settle "disputes over the ownership of assets as between a regulated financial institution in receivership and its parent holding company in bankruptcy" . Number 15, in the court document referenced above, states "The examples provided are only two of the dozens of analogous situations that have arisen. JPMorgan Chase does not believe that at the end of the day there should be any serious dispute in most situations, but the Debtors have taken the position on more than one occasion, orally and in writing, that JPMorgan Chase's actions with respect to assets JPMorgan Chase acquired from the FDIC amount to a violation of the automatic stay because the Debtors assert a claim over the same assets."
I am of the opinion that JP Morgan Chase does not know what is legally theirs, and therefore the above filing was not fraudulent and misleading The above filing by JP Morgan Chase obviously proves that JPM does not know with any certainty what assets were acquired, and therefore can not, and should not even attempt to speculate as to what value the acquisition will have on JPM's share price, nor should they just assume that the Court will rule in such a way that supports JPM's "understanding" of who owns what.
So, since it is clear that JPM does not know what was acquired, nor do they know who has rightful ownership of assets in this case, and since as you put it , there are "dozens of analogous situations that have arisen", I am deeply troubled by the apparent misleading and fraudulent statements made by Mr. Dimon during the January 15th, 2009 Conference Call.
If JPM does not know exactly what was acquired, the Mr. Dimon misled investors on the January 15th Conference Call with regards to the acquisition of WaMu and the effect the acquisition will have on the share price of JPM.
I would very much appreciate a valid and appropriate response to the serious issues addressed in this correspondence, and I would very much appreciate it if Mr. Dimon would fully disclose to shareholders, and the Public, the uncertainty surrounding the ownership of assets and the "dozens of analogous situations that have arisen", as by failing to do so, I fear that Mr. Dimon is jeopardizing whatever is left of the integrity and trustworthiness in the JP Morgan name.
Misleading investors, especially by the CEO of a company like JP Morgan Chase, is a very serious matter and I expect a very serious response to this message.
I am giving you the benefit of the doubt, and I am also giving you the chance to respond to my inquiries so that you can clear up the confusion surrounding the value of the WaMu acquisition.
Please responde either in writing or in the form of an electronic correspondence.
Once such correspondence is received, I will review it, and at that time, I feel that a conversation over the telephone would be very warranted.
Thank you kindly for your time, and I very much look forward to hearing from you in the near future.
Have a great night!
Sincerely,
Well said.
This whole deal stinks, and I am just glad that Washington Mutual Inc is under the protection of the court right now.
They are in the best position they could be in considering the circumstances.
I knew I was forgetting something.