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Royal Dude, please indulge me by your guesstimate of the 1st bucket distribution to escrows common shareholders. Thanks for your DD.
"JPMorgan Chase will not be acquiring any assets or liabilities of the banks' parent holding company (WM) or the holding company's non-bank subsidiaries". So what happened to these assets and liabilities? They need to be accounted for. I'm talking about something actually "Fair and Reasonable".
Again, where were the hedge funds in all this? With
all they had at stake, Why did they just seem to "roll over" and accept all their potential fortune disappear without a whimper?
RD, how do these Treasury borrowing needs effect escrows?
So where are the hedge funds in all this? Shouldn't they be bitching, more importantly, filing law suits with their resources, contesting the wipe out of WM by JPM and the FDIC? Where's "Fair and Reasonable"?
That's a lot of loot. Wonder if any good lawyers would like to check into the whereabouts and if it still exists try to get it released to escrows on a contingency agreement.
In the case of further escrows distributions, patience HAS been a "vulture". lol
What could Chase have to do with the "loot"? ha
So where did all the assets go? Who got the loot?
Thanks for the clarification.
I meant WMI and WMB.
This definitely needs to be pursued. Somehow, some way.
Didn't the Holding Company loan the parent company quite a chuck of money? If so, what happened to that loan repayment?
Was that truly "Fair and Reasonable"?
So where did the $20 Billion go?
Are there any time stipulations for dispersing this? "the distribution to Tranche 6 will be shared 75% and 25% pro rata between claims on account of Preferred Equity Interests and Common Equity Interests, respectively."
Wonder if the Susman group feels that what escrows got was/is "fair".
Is anybody with any kind of bona fide authority trying to get further distributions for escrows?
Basically, is this what it comes down to? COOP is "on the hook" to compensate escrows holders, either in shares or cash, for the assets they have been benefiting from for quite a while? If not, what am I missing?
Large Green, realistically, what is the main for you believing this? "No doubt and in my view, we will see a distribution between now and 12/31/2022 but more than likely any day during the current third quarter".
"20 B under shareholder's equity retained earnings and the same was forwarded to Distributions LT/DCR on effective date". Where did this go?
So did the hedgies "get skunked", basically, in the escrows ordeal, too?
That's a very good idea. "Cut to the chase" with what's really going on. Or went on.
That's an interesting development. Thanks for sharing that.
It's hard to believe there hasn't been a documentary put together about the Washington Mutual saga.
Where are our escrows distributions? Weren't we supposed to have some assets in trusts somewhere? What happened to them?
Need to recruit a top flight law firm on a contingency basis to try to establish fairness for escrows holders. Wouldn't they be poised to get compensated well if they deliver?
That's astonishing. I don't recall Willingham saying much regarding the situation either. Looks like Jamie Diamond and others pulled a fast one on a lot of innocent people.
Have the hedge funds involved ever said anything about being concerned about not getting further escrows distributions? If they've, indeed, remained silent after all this time, that's a "head scratcher".
"We have been lied to about WMI/WMB assets for too long now." Why not search out a quality law firm to explore this legally on a contingency basis and try to get those assets to escrows holders? Wouldn't that law firm be poised to make a lot of money, if successful? I know there are some escrows holders that have done a lot of research. That could present this foundation of information to some quality law firms for their consideration. At this point, what would escrows holders have to lose by trying this approach?
What, if anything, is keeping hope alive for further escrows distributions?
Are there still any escrows distribution theories being tossed around here? If so, please briefly tell me what they are.
Actually, I was hoping Cooperman is an escrows holder. He is the kind of "mover and shaker" needed to get things moving. Also, he would have the resources to secure outstanding legal services to check into some things, if needed.
IMO, this is very positive for COOP. It would be interesting to hear Mr. Cooperman's take on the escrows situation. I wonder if Omega Advisors would benefit from an escrows distribution.
If so, it likely may be in the Omega Advisors hedge fund.
Is Mr. Cooper one of Leon Cooperman's largest stock holdings?
I agree.To them and others. I'd love for them to get some satisfaction for all of their DD. It looks to me like it's going to take some crafty legal work in order for escrows to have any kind of chance for some distributions in the future.
Who received the about 260B? If they paid it to the FDIC. What did the FDIC do with it? Should escrows holders have been entitled to any of that?
Did JPM pay fair value for the Wamu assets they obtained? If so, how much did they pay and who got the money?
All this continuos hype about potential distributions seems pretty hollow anymore. Where's the beef? The silence of the hedgies is really the ONLY thing that still makes me wonder a little.
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