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Submit a Formal FREEDOM OF INFORMATION ACT(FOIA)REQUEST
Please take the time to use the following link in order to voice your concern AND formally submit specific requests to the FDIC for documents that you feel should be provided to you per the FREEDOM OF INFORMATION ACT .
http://www.fdic.gov/about/freedom/index.html
The more information you request, the more information you might get.
This is not a joke. This is a very serious matter.
If everyone just sits back and does nothing, then that is exactly what will change. Nothing.
Well, Calpine ended in stockholders receiving warrants for "new stock" and HealthSouth avoided bankruptcy all together.
So, atleast the advisors, consultants, and lawyers on board truly have done some great work in preserving shareholder equity.
I am still on the sidelines, but I will get back in if the time is ever "right".
We'll see how this plays out.
So about 30% of the shares are short huh?
Time to keep buying.
I put in a bid at the ask for about 70,000 shares today and it went through under the ask.
Paul Allen's Charter hires turnaround expert
http://uk.reuters.com/article/rbssTechMediaTelecomNews/idUKN0647413120090206
I think even if they go into bk the shares might stay alive.
I don't see creditors even wanting "new stock" , and therefore I don't think "new stock" will be issued.
However, I think the pps is bound to drop sometime soon, and if it goes low enough, I might get back in.
They just need to make an announcement that they are filing for bk to restructure their debt, but the shares will not be cancelled.
If that happens, this thing takes off runnin' .
We'll see what happens.
I think it is great that the backdrop of the BusinessWeek link says "Hot Property".
That is exactly what JP Morgan has, "hot" property.
Whooo hoooo!
I don't know why they would do that.
I just like seeing words like "ownership".
Better get used to that word.
I disagree.
Washington Mutual Inc has the best of the best working on their case.
Lawyers aren't cheap, but their fees are money well spent.
Trademarks,logos, etc.
Filed Today
http://www.kccllc.net/documents/0812229/0812229090206000000000010.pdf
This was well over a month ago.
I understand I could have gotten more shares if I bid less than $1 per share, but I just wanted to see what the MMs would do with it.
Everytime I overbid they give me my shares under the ask.
Yeah but I intenionally over bid, and they gave me the shares for UNDER the ask.
I have put in a bid for 100 shares of WAMKQ at $1.00 before and was given the shares for under the ask.
Nope.
I'm sure if I did talk to her she would say the same thing about negotiations being ongoing and blah blah blah.
Call her AND email her.
1-314-543-2459
Christina.Bradley@chartercom.com
I agree, I am just waiting for the price to drop more before I get back into WAMUQ.
I have never said this co. is worthless.
Quite the opposite.
And we're not talking about a little claim.
We're talking more than just the value of the assets.
Look at Page 9.
Look pecifically at the description for Tuesday 12/30/2008.
"Finished FDIC claim."
http://www.kccllc.net/documents/0812229/0812229090205000000000005.pdf
I don't expect anything huge for a while.
I am just adding Ks when I can.
This price range of .12 -.14 works for me.
Yeah, real good advice there.
Tell someone they should buy in at .06 right after a run.
Rean nice.
They will push some through at .13 or under for a while, but the next run is on the horizon.
It is better to look at than red.
Heavy action today!
379 shares already traded.
The FDIC can only sell what was placed in their receivorship.
The OTS only seized WMB and WMB fsb.
Washington Mutual Inc owns all of the subsidiaries on that list less WMB and WMB fsb.
If I am mistaken, then somebody please correct me.
Seriously.
The OTS only seized WMB and WMB fsb.
The FDIC only sold most of WMB and WMB fsb , as those were the only two banks seized and placed in the receivorship of the FDIC.
We still have tons of assets.
WaMu Inc has tons of subsidiaries as well.
If the FDIC only seized WMB and WMB fsb , then I would say that there is still a lot of hidden value in WMI's books.
Look at the list again.
http://www.secinfo.com/dVut2.t21c.1.htm#1stPage
WTF ?
I don't think so. Here is their subsidiary lising on their 10-K filed 2/29/08 .
http://www.secinfo.com/dVut2.t21c.1.htm#1stPage
Damn nice list, but I don't see SunTrust on there.
WASHINGTON MUTUAL, INC. DIRECT AND INDIRECT SUBSIDIARIES
110 East 42nd Operating Company, Inc.
Delaware
620-622 Pellhamdale Avenue Owners Corporation
New York
Accord Realty Management Corporation
New York
ACD2
California
ACD3
California
ACD4
California
Ahmanson Developments, Inc.
California
Ahmanson GGC LLC
California
Ahmanson Insurance, Inc.
California
Ahmanson Land Company
California
Ahmanson Marketing, Inc.
California
Ahmanson Obligation Company
California
Ahmanson Residential 2
California
Ahmanson Residential Development
California
Bryant Financial Corporation
California
California Reconveyance Company
California
CCB Capital Trust IV
Delaware
CCB Capital Trust IX
Delaware
CCB Capital Trust V
Delaware
CCB Capital Trust VI
Delaware
CCB Capital Trust VII
Delaware
CCB Capital Trust VIII
Delaware
Clayton Blackbear, Inc.
New York
Commercial Loan Partners L.P.
Nevada
CRP Properties, Inc.
California
Dime Capital Partners, Inc.
New Jersey
Dime Commercial Corp.
New York
Dime CRE, Inc.
New York
Dime Mortgage of New Jersey, Inc.
New York
ECP Properties, Inc.
Texas
The E-F Battery Accord Corporation
New York
F.C. LTD.
New York
FA California Aircraft Holding Corporation
California
FA Out-of-State Holdings, Inc.
California
Flower Street Corporation
California
Great Western FS Corporation
Virgin Islands
Great Western Service Corporation Two
California
H.F. Ahmanson & Company
Nevada
H.S. Loan Corporation
California
Harmony Agency, Inc.
New York
HCP Properties Holdings, Inc.
Delaware
HCP Properties, Inc.
California
HFC Capital Trust I
Delaware
HHP Investment, LLC
Delaware
HMP Properties, Inc.
Utah
Home Crest Insurance Services, Inc.
California
HS Loan Partners LLC
California
Irvine Corporate Center, Inc.
California
Ladue Service Corporation
Missouri
Long Beach Securities Corp.
Delaware
Marion Insurance Company, Inc.
Vermont
Marion Street, Inc.
Washington
Mid Country Inc.
New York
Murphy Favre Housing Managers, Inc.
Washington
Murphy Favre Properties, Inc.
Washington
--------------------------------------------------------------------------------
Company Name
Jurisdiction of Formation
NAMCO Securities Corp.
Delaware
Nickel Purchasing Company, Inc.
New York
Norstar Mortgage Corp.
New York
North Properties, Inc.
New Jersey
Pacific Centre Associates LLC
California
Pacoima Investment Fund LLC
Delaware
PCA Asset Holdings LLC
California
Pike Street Holdings, Inc.
Delaware
Plainview Inn, Inc.
New York
Providian Bancorp Services
California
Providian Leasing Corporation
Delaware
Providian Mauritius Investments LTD
Mauritius
Providian Services Corporation
Delaware
Providian Services LLC
Delaware
Providian Technology Services Private Limited
India
Reverse Exchange Corporation
California
Rivergrade Investment Corp.
California
Riverpoint Associates
California
Robena Feedstock LLC
Delaware
Robena LLC
Delaware
Savings of America, Inc.
California
Seafair Securities Holdings Corp.
Delaware
Second and Union LLC
Delaware
Seneca Funding (UK) Limited
United Kingdom
Seneca Funding LLC
Delaware
Seneca Funding Management LLC
Delaware
Seneca Funding Trust
Delaware
Seneca Holdings, Inc.
California
Seneca Newco LLC
Delaware
Seneca Street, Inc.
Washington
Sivage Financial Services LLC
Delaware
Snohomish Asset Holdings LLC
Nevada
SoundBay Leasing LLC
Delaware
Stockton Plaza, Incorporated
Florida
Strand Capital LLC
Delaware
Sutter Bay Associates LLC
California
Sutter Bay Corporation
California
Thackeray Funding Corp.
Delaware
Thackeray Funding Partners
Delaware
Thackeray Holdings Corp.
Washington
University Street, Inc.
Washington
WaMu 1031 Exchange
California
WaMu Asset Acceptance Corp.
Delaware
WaMu Capital Corp.
Washington
WaMu Insurance Services, Inc.
California
WaMu Investments, Inc.
Washington
Washington Mutual Asset Securities Corp.
Delaware
Washington Mutual Bank
Federal
Washington Mutual Bank fsb
Federal
Washington Mutual Brokerage Holdings, Inc.
California
Washington Mutual Capital Trust 2001
Washington
Washington Mutual Community Development, Inc.
California
Washington Mutual Finance Group LLC
Delaware
Washington Mutual Life Insurance Company of California, a Stock Insurer
California
Washington Mutual Mortgage Securities Corp.
Delaware
--------------------------------------------------------------------------------
Company Name
Jurisdiction of Formation
Washington Mutual Preferred Funding LLC
Delaware
Washington Mutual Trade Service Limited
Hong Kong
Washington Mutual-Seattle Art Museum Project Owners Association
Washington
Western Service Co.
Oregon
WM Aircraft Holdings LLC
Delaware
WM Asset Holdings Corp.
Delaware
WM Citation Holdings, LLC
Delaware
WM Enterprises & Holdings, Inc.
Washington
WM Funds Disbursements, Inc.
Nevada
WM Marion Holdings LLC
Delaware
WM Mortgage Reinsurance Company, Inc.
Hawaii
WM Specialty Mortgage LLC
Delaware
WM Winslow Funding LLC
Delaware
WMB St. Helens LLC
Washington
WMBFA Insurance Agency, Inc.
California
WMFS Insurance Services, Inc.
California
WMGW Delaware Holdings LLC
Delaware
WMHFA Delaware Holdings LLC
Delaware
WMI Investment Corp.
Delaware
WMI Rainier LLC
Washington
WMICC Delaware Holdings LLC
Delaware
WMRP Delaware Holdings LLC
Delaware
Yellowstone Venture, Inc.
New York
If an investor had 200,000 shares @ .045 and they thought the price was going to start to drop hard, would that person be better off
A: dumping at .043 and saving the $8,600 until the price dropped to .025 to buy more,
or
B:should that person "stay in and hold" and simply keep their 200,000 shares?
If this investor chose option A, and waited until the price dropped to .025 , then they would be able to purchase 344,000 shares. That would increase their position by 144,000 shares by being SMART , and dumping. Even if the price only drops to .03 (which even adophis predicted), a smart investor could increase their position by 86,667 shares, by simply being SMART and dumping.
If this investor selects option B, then they would only be sitting and watching, and will only have 200,000 shares when the price hits .025 .
Unless I'm missing something, I am not a wannabe anything, and you need to re-evaluate what it means to invest wisely.
I would love to hear your response to this post, and FYI, this has nothing to do with luck!
Well I'm in on the Ps and the Ks, and I'll be getting back into WAMUQ when the price is right. I'm glad I bought in last time at .029 and sold at .07 , and I'm glad I dumped at .045 not too long ago.
Why should I have stayed in and watched my market value disappear when I will be able to get back in a lot cheaper than when I dumped?
I think the preferreds are going to gap way up when WMI's books look healthy.
I feel that the market is going to work all of the WMI securities out on its own.
I have never believed that preferreds will get a "payout" from Washington Mutual Inc, so I will not assign a % or a rating to a "recovery", as I believe that the only "recovery" that is forthcoming will be a recovery of the share prices.
(No, I do not believe that this bk will be classified as a default event in this case.)
I do believe, however, that once all assets are truly valued, once WMI is able to liquidate enough securities and other assets that will provide enough cash for WMI to be in a strong enough position to be able to carry out "the plan", and once the FDIC pays up,
it will be clear that Washington Mutual Inc's assets have always been much greater than their debt, and that there was corruption and wrongdoing involved in the seizure after their "collapse".
When this happens, the preferreds and commons will both shoot straight up.
It is all about timing and message control.
Bonderman's behavior and silence is telltale.
There is no way Bonderman walked away the way he did unless he was absolutely certain that Washington Mutual Inc is going to continue to operate and keep the share structure in tact.
(It is still in Washington Mutual Inc's best interest to keep all shares in tact. )
He didn't even have to engage in any insider "talk", because all he had to do in order to send a "buy signal" to his friends and others in Texas, was to keep his mouth shut, and that is exactly what he is doing.
Look at the following WMI holders that are located in Texas, which does not represent all of the WMI holders from Texas.
Teacher's Retirement System of Texas
Filed 8/15/08
http://www.sec.gov/Archives/edgar/data/796848/0000796848-08-000007.txt
filed 12/18/08(still holding)
http://www.sec.gov/Archives/edgar/data/796848/0000796848-08-000011.txt
Texas Permanent School Fund
Filed 8/11/08 (holding 847, 089shares)
http://www.sec.gov/Archives/edgar/data/1223779/0001223779-08-000011.txt
Filed 10 / 15 /08( holding 1,016,617 shares)
http://www.sec.gov/Archives/edgar/data/1223779/0001223779-08-000014.txt
(If they would have sold they would have lost a TON, and it would be known.)
If Bonderman would have come out swingin', and making all kinds of noise, anyone who knows him would have known that shares were done for, and would have definitely dumped. His noise would already be heard in the form of a publicized lawsuit. None of this happened.
I do realize that these people, and others, could have dumped and we just don't know it, but
Bonderman's silence speaks VOLUMES!
I think that "they" are definitely going to end up with a plan that everybody is happy with. The best part about Bonderman, is that he is a filthy rich guy, but in this case he represents the common man.
Something's up !
ps-It's probably not going to happen, but these guys right here should merge with Washington Mutual Inc and keep the WaMu name alive.
https://www.suntrust.com/portal/server.pt?space=CommunityPage&control=SetCommunity&PageID=0&CommunityID=865
But the thing is, if they did file for BK, and eliminate some of their debt, possible suitors would step in. I don't see anybody buying them out until their debt is "under control" . I don't know. I am just going to monitor the news on a more-than-regular basis. I search European and other sources as night to try and get the "fresh" news.
You are right, it is like the wild, wild west, and nobody knows.
Thanks for sharing !
I will send that link AND the current bond prices, to the lady in Florida that wrote the following article.
http://www.sun-sentinel.com/business/yourmoney/sfl-flzbrackey0204sbfeb04,0,6075645.story
Something tells me she really doesn't want to know the answers to the questions she asked in her article, but you never know.
Here is the email I just popped off to Paul R La Monica, the author of the article that HROLLER referenced.
"Good Evening.
I just read the following article, that was written by you, and feel that it is my civic responsibility to offer you constructive criticism and advice. It is my opinion that the article is incomplete, thereby making it misleading and inaccurate.
http://money.cnn.com/2009/02/05/markets/thebuzz/?postversion=2009020513
You failed to mention that Jamie Dimon initially tried to buy BS for $2 per share, and he thought he got away with it until the shareholders voiced the reasonable opinion that $2 per share was unfair. Jamie Dimon then offered $10 per share.
I would say that a lowball offer that was 1/5th of the final price per share of the deal warrants full reporting.
Also, you failed to mention that Jamie Dimon tried to buyout Washington Mutual for $8 per share a year ago. Washington Mutual turned down the offer because they were, and still are, worth more than $8 per share. After Washington Mutual turned down Dimon's offer, Hank Paulson was quoted as saying to WM "You should have sold when you have the chance."
Also, you failed to report that $309 BILLION of deposits and assets of Washington Mutual Bank were unfairly sold at a suspiciously low price of $1.9 billion.
You failed to report that Washington Mutual Inc has made a claim with the FDIC. The FDIC has 180 days to either settle or deny the claim, after which time, Washington Mutual Inc can make a claim against them in Federal Court.
It is my firm opinion that the FDIC will settle with Washington Mutual Inc. If they do not, there is no doubt that they will be sued.
You also failed to raise the question as to why Washington Mutual Bank was seized, as per the OTS FACT SHEET, Washington Mutual Bank was well-capitalized by all definitions of the word.
http://files.ots.treas.gov/730021.pdf
It would be my advice that you start with some very basic questions in your reporting of the Washington Mutual Inc case. Two questions that should be asked and need to be answered are as follows.
"Why was Washington Mutual left off of the "no short-sale list" last year when all of the other banks were on it?
"Why was Washington Mutual seized just days before it was announced that all banks would have access to as much capital as they needed in the form of TARP money?"
Instead of writing completely slanted and inaccurate "news", I suggest that you do some real research about the Washington Mutual Case, report on the FACTS, and ask real questions. I feel you are doing yourself, and this entire nation a gross disservice by engaging in what I refer to as "partial reporting", which is misleading, inaccurate, incomplete, wrecklessly negligent, and dangerous.
It is my opinion that the above article should be updated/revised, and I expect that the revision include all of the facts and the full truth, not just some of the facts and half-truths.
If you need help or assistance finding the appropriate links and supporting documents, such as court documents, please let me know and I will be more than happy to help.
Have a great night!
Sincerely,
M _ _ _ _ _ _ _ S _ _ _ _ _ _ _
_ _ _ _ _ _ _ _2008@hotmail.com
1- 9 _ _ -7_ _-7_ _ _
The reporter also failed to mention that little Jamie Dimon, that slimy b@$tard, also tried to buy BS for only $2 /share, and almost got away with it until the shareholders said Hold the F on pal. How about $10 per share? And he paid the $10 because he had to. He claims that he offered to pay more than the original offer of $2 per share.
I'll start bothering this reporter. Probably won't do any good, but I'll put this guy on the list. I'll pop off a couple e-mails a day. I sent a pretty nasty one to the lady that wrote the following article.
http://www.sun-sentinel.com/business/yourmoney/sfl-flzbrackey0204sbfeb04,0,6075645.story
WTF ? Do some research lady. The following quote just kills me.
"There's talk on Internet message boards about shareholders getting some money back. But the one serious assessment I've found says it's not likely."
Sometimes I initiate contact with reporters on a very respectful level, and some of them I simply load up e-mails with hard-hitting words and accusations. Option B doesn't usually work out well and usually doesn't lead to a response, but I make sure I send the "nastygrams" a few times per week if no response is received.
Good old Harriet Bracky hasn't responded to my email I sent about the above article, and I am going to get on her case tomorrow.
I suggest people share their thoughts about the above article with Harriet at hjbrackey@SunSentinel.com or give her a call at 954-356-4614 . I am going to do both. Don't hold back, and tell her how you really feel.
It is nice to see the bonds up that much, and it is very nice to see people that have made a claim against WMI that has been able to sell their bond on the open market and be "happy".
Withdrawal of Claim by Spencer Bishins
http://www.kccllc.net/documents/0812229/0812229090202000000000027.pdf
Shot up because the MMs wanted to make money.
There will be another run soon .
How low do you think it is going to get this time?
I say .022 .
I am going to get back in at .029 .
That was my lucky # last time.
The MMs are just walking it down and getting weak investors to sell.
Look at the volume. It is drying up.
They are just yanking as many shares as they can and are just accumulating for the next run, which has to be coming soon.
Is it going to run tomorrow, or are they going to drop it under .03 tomorrow, .025 on Monday, and then run it up after a low of .023 ?
Well I think either this will be over real quick, or the stock shoots up.
I don't think there is going to be anytime to bailout if they file.
I just don't see creditors accepting "new stock" as sufficient payment. I think they would be much better off just re-negotiating the debt. If they go bk, and issue new stock, nobody would touch that stock with a 10-foot pole.
I have never shorted before, but if Charter goes bankrupt, cancels these shares, and issues new ones, I am going to short the new shares bigtime when the time is right.
If creditors are given "new shares", then they are going to dump faster than you can say "bad service" .
Just my .02
Another thing.
Every bondholder that made a claim as a creditor and sells their bond, is no longer a creditor.
Here is a good example of that.
2/2/2009 0812229-651 0647 Withdrawal of Claim by Spencer Bishins
http://www.kccllc.net/documents/0812229/0812229090202000000000027.pdf
WM.HE was up 46.88% from Jan. 9th to Feb 3rd.
PDG if you ask me.