Washington Mutual Mortgage Reinsurance, Inc. - stock holders won in this major bankruptcy case.
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http://data.cnbc.com/quotes/%20wamuq/tab/8 some data on this stock
Bank stocks are up on congress's progress on a further bailout bill signing expected soon.
http://www.kccllc.net/Docket/SearchResults.asp
Keep refreshing this page and the filing will be there when it is available.
We are learning about the finer points of filing with the court.
Apparently, some filings are more quickly posted for public review than others or JPM didn't file on time. Aren't these the 2 choices we have on this topic this morning?
a cool breeze, no doubt.
These insurance companies have not been receiving payments lately because of the seizure. There are contracts broken.
Ain't it! ? It is.
That's why there are so many lately; its part of the TLGP, Temporary Liquidity Guarantee Program. Thanks. I didn't get that far. Now I have.
I don't know if all of the prospectus have those paragraphs. The prospectus in which those appear is not unique either. The FDIC backs deposits so it makes sense that the money JPM raises by offering these terms for money invested or deposited are covered by the FDIC.
JPM files prospectus with sec several times a week lately. I don't read them. I just see the filings and look at the subject lines to see if it might contain something about WMB. If I see something I will share it.
good that was fun We should have our own video conference room!
These prospectus filed regularly by banks is an offer to invest with JPM based on the terms in the prospectus. They raise money this way.
nope, it doesn't have anything to do with the possible racketeering charges!
I'm holding. All things considered, I would have to be physically on fire before I would sell my shares. I guess I might need the money for a fire extinguisher. What is the chances of that happening?
The boilermaker's claim may be a class action suit by shareholders. If so, I have read that they will not likely be satisfied since there is so much to do first and based on the outcome they may drop it.
This is some helpful info from lawrencmeany at Yahoo boards:
If JPM didn't file proof of claim by tonight "...They would not be in contempt......They were not Ordered by the Court to file a proof of claim......
The Court Ordered the Bar Date for filing proof of claim.....meaning that if JPM does not file a proof of claim by March 31, 2009 ...they will be barred from making any such claims against the debtors estate in the future.......
Or if they do not file for an extension by the bar date.....
JPM could either let the Adversary Case play out or file an extension based on cause to have a ruling first in their Adversary Case before filing a proof of claim.....It they do nothing today..then the next step is for Weil to respond and FDIC to respond to the Adversary complaint and a hearing date will be set to hear arguments on the matter..."
The "operative" word is "could". Yes it could.
Here is information the JPM management and their income:
http://www.secinfo.com/d14D5a.s23qb.htm#5u9 just scroll down to see names and pictures.
JPM may not have filed. It could become available at any time at all.
No sign of the JPM proof of claim filed as of yet.
He's saying that mergers and acquisitions are inevitable now and that one can make money by picking correctly. Of course, he isn't talking about WMB but the theme is the same. For those who are wondering where to get some leadership on the current banking troubles, Jim Cramer is one source.
Cramer is talking about banks right now.
There appears to be no financial figures in the report.
My thought process is result of all the discussion here. I take no credit. I can type pretty fast though which helps. lol Thanks.
Of course they can. The fed wants this to happen because consolidation is the only way forward.
You really should be offering a cash prize or something !
But at least I now know there is an answer to your riddles.
Thanks.
That's beyond my scope of interest really. I don't think I will try to figure the most likely merger paths with any great effort. It's enough for me to watch what I'm watching.
Whose 8K?
That is not much of a riddle though, right? I mean, jeeese, how obvious? I think the trend is merger and consolidation as a clear way to clean up the banking system. That is happening and it's very clear.
WMI has every thing in place to survive so the commons are good as gold, though the price may not rocket past .50 or so until after the creditors are paid off or some arrangements are made out of the BK court. The preferreds will move differently based on JPM's settlement offer or forced deal by the FDIC or the Treasury. I don't really know though.
Yep, Lawrence, something like this. Only us older guys could fully appreciate the value of inaction in the face of the ocean of worry that surrounds us. lol
JPM can get more while doing less in this case.
So, I shouldn't wait on JPM to comply or respond in a manner that would benefit me or my stock prices.
I hope judge takes clear action. That is going to make a difference.
Lehman merger hit a bump over the weekend.
JPM is the bank of choice for merging and consolidation.
Therefore, JPM will absorb WMB and Lehman in the end, but what that means to the stock prices is undetermined.
imho
I see that logic too, Lawrence. If I were Dimon and I wanted to make the largest net profit on this seizure and purchase I would spend as little as possible defending myself. After all, I can't loose, in respect to net dollars. No matter what happens JPM has already realized significant gain in both marketing and deposits through the 2000 or so new branches in play. JPM will be defended to a point by the FDIC even though they appear as adversaries because the FDIC will have to support it's decision to sell to JPM and so JPM can just sit there and let the chips fall as they may. imho
Right, the timing on that JPM violation is suspect.
I appreciate your help expressing myself. But, we have a lot of work to do Don, so let's move off some of the more obvious mistakes we have made and start discussing things about how to improve our situation together. One example is to separate the people from the problem. You are not the problem, nor am I, though some of the ideas you hold to be true are not accurate. My ideas are not all accurate either. But, I have spent years reviewing what people are doing and I see a bunch of things we could do better; schools, roads, air, water, food, building, and farming.
I found the book, "The Social Contract" by Rousseau at a used book store. I'm sure you can find one online too.
It's short and it supports all the valid points you want to make and it also disspells the errors in "right" thinking. lol
Thinking with one side of your brain gives you limp that identifies you from a mile away. What I mean is that a mind is like a parachute... and tye-died t-shirts look good on everyone! lol
Your posts seem narrow minded and one sided, as though the word "liberal" means ignorant. Statistics report that the more educated a person is the more tolerant and open-minded they become. Imagine that; more data means more understanding. Cool, huh?
The problem with opinions is that there is always a diametrically opposed one that is often just as valid.
Facts is facts. Let's find some and use those... though statistics have their issues, we can and must agree on what is sustainable in energy, building, schooling, and farming. We must or will continue to self destruct.
We may want to open up a board to discuss the meaning of the word "sustainability" so that those who are unaware of the breadth and depth of meaning in that one word may discover a whole new, free market, capitalistic, and rewarding economic reality that comes with it.
Sustainability is realized by seeing the data on the total cost of manufacturing and all building, construction and real estate development and then create economics around that which actually pay for the growth! A very obscure, yet true, fact is that the "growth" that we have had here in the U.S. has never paid for itself through tax revenues. That's correct; all those subdivisions are loosing enterprises for the community as a whole. And the balance sheet loss continues due to substandard, unsustainable construction. They are like land mines on the landscape; houses that are crumbling and people without the know how to keep them up. Then there's the energy consumption/waste. The cost to sustain the property must be paid by the income of the residence but the income has to be enough to pay for materials and wages for the repairmen. This is not happening. Therefore real estate is depreciating overall. Dudes and dudettes, this is not sustainable. Our whole economy is rooted in the quality of our residential real estate. It's beautiful when it works.
Sustainability is a math problem, not political or even philosophical. It's all numbers. Energy efficiency means more money for schools, roads, and other infrastructure issues.
I agree.
That's the/a idea.
Is this where someone is supposed to say, "whatever" or "shi t happens" ?
cool. i like art. i do some myself. I do antler art.