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hopefully it will be 1:1.. for each old wamuq!
I agree.
investing in COOP since 2018 or whenever.. has really little to do.. with getting F&R for our old wamu holdings.
so much for whatever 'accrued interest' we were suppose to collect based on old wamu holdings.. 13.5 years all for nothing
Pretty much clear as day.
Wonder why we couldn't get such detailed responses in the past 13+ years .. I guess it's all over now so no harm in them finally answering us.
Also makes me think what did susman find behind closed doors? $30 billion? We could have gotten more?.. susman probably got duped...so much for f&r. The bunch of wmih turned coop is it.
The Equity committee also was a fail
it be interesting to hear her interpretation of what 'close enough' is.. close is relative.. days? weeks? months? or many more years..
I remember Justin from SG talking in court. He wanted to talk about some $30 billion and then the judge smacked him down..
Rosen had also mentioned equity could pursue the 'assets' outside of bk, or something of a similar narrative.. hard to know what to pursue when we've been left in the dark for the past 13+ years.
Hopefully whatever Susan Godfrey negotiated behind closed doors all those years ago will eventually bring closure and some 'fair and reasonable' relief to us all soon!
I've always wondered about the redacted.. what's there to hide?
I agree about the judge. Didn't really push for answers from the debtors, essentially Rosen ran the show
Don't know if our beef will ever show up. Could be stashed away in their special meat locker forever
A dud of a 10k no doubt. Wishful to think that coop would announce they onboarding billions of something and be paying legacy wamu
Thanks for knocking hard on the door.. will be interesting if we get any new answers to this saga
That's a potential big link. First time I've heard in years about the escrows having any relation to Mr Cooper, not to mention a 'merger'. Last time was when we got those WMIH shares before they turned into mr cooper shares via reverse split.
Might be worthwhile to find out about this 'merger'
Probably different this time though. Somebody probably pressed the big execute button to all banks and brokers to cancel all escrows.. hopefully it's not the nail in the coffin for us
Yup. There's nothing about wamu, coop or our actual escrow cusips..
nope just a bunch of coop shares.. i mean coop's doing great and all.. but they didn't give nearly enough coop shares for the number of wamu shares we held.
one would think there would be an announcement that our escrows would be 'traded' for something of value.. if there is in fact something of value coming back..
but nothing's been published.. and they removed the only tie we have to 14 years of waiting..
hard to find much optimism left.
yep.. i agree.. everything else is just noise.. 13+ years of noise
That makes the most sense.. vs speculating.. hope someone reaches out to their brokerage
i think that's the biggest challenge after 13 years.. there hasn't been one shred of proof .. at least not known to us.. only a bunch of inferences to this and that..
quite possible that the hedgies didn't get snookered, but instead got a side deal.. who knows.. we'd like to hope that we are on the same boat as them and that they know where the promised land is.. but they could have jumped ship a long time ago and we'd have no clue
yeap.
not in any filing have we seen that what we got was in fact 'fair and reasonable'..
wouldn't be so bad if they didn't reverse split.. and did a 1 wmih for 1 coop..
no one knows..
well other than the underwriters perhaps? a lot of goldman sachs showed up at alice's hearing back in May.
all we've seen these years is the debtors legal rep running the court room.
makes one wonder if susman got fleeced..
as in their opponents gave them a bit of bait (small fish).. and susman came out announcing saying they saved equity.. when in fact the hedges, JPM or whoever ran away with the big fish..
That's pretty much the most fundamental question right now.. when.. also answers if or what.. we've all hoped that if is on point based on all the DD over the years.. but all would be for nothing if we dont know when.. they could hold our interest and assets for years and we would be none the wiser
Yep it's always been about timing and execution.. we are really getting long in the tooth with this saga..
Doubtful we will see anything next year but I'd be glad to be wrong
She doesn't know either.. maybe she thought she could squeeze the vice on them to eke out payment ASAP.. but since the cases been lost . I guess we now back flapping aimlessly
Nothing like the past 13 years..
i wonder why bop in her recent update.. went from 6/30 now to weeks and months.. if you believe.
best to believe that nothing will happen rather than expect something will happen.
makes me think.. the source doesn't know much or is low on the hierarchy..
Hopefully they aren't trying to move the Lambo away before we get a chance to open the garage door..
Where the escrows suddenly came 'alive' for a bit?
yea.. it doesn't appear any of the SEC filings refer to anything related to the old wamu escrows / cusips whatever you want to call them.. honestly, we have no idea what we own..
Yea.. June 30 is unlikely to be of any significance ...just like all the dates that have already gone by.
I wonder why the medium didn't step up, unless the medium works in the financial realm too..? Or isnt the medium just a message board folk like the rest of us ?
One thing I've been wondering is how much did bop trust the source considering the source had relayed the info to a middle man before the whole 6/30 discussion was passed to her. Has bop ever been in contact with the source ? I'm thinking yes at this point considering she said she didn't want the person to lose his/her job
I wonder if Alice will offer a post mort of last week's hearing .. or an update of whether her source still believes something will happen in a couple weeks time
The wmilt has always states they don't have anything left to distribute. Any distributions would presumably come from another entity? Coop?
Would be a good idea to save your brokerage's statements !
Thx for the concise summary. 2.5x or 2.9x would be fantastic!