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Not as early as me. hahahaha
BAC : So once again BAC had HUGE dollar volume traded today. Over $6 Billion in volume. WTF?
The $hitty part is that they have a bunch of TARP they need to pay back , so you would think that they are going to have to dilute at some point, but after they do, LOOK OUT .
Thanks, but no luck needed.
Obviously somebody got them for 20.50 or lower.
I'll get them for lower than that in due time imo .
Stupid question huh?
Day’s Range 19.00 - 22.50
Friday discount shoppin', and then a little re-sale action on Monday/Tuesday.
I still think they will drop below $20, and I'm watchin' and waiting to load up.
That is a very good question, and I was going to ask it a while ago but didn't want to get my head ripped off by the board.
There is the FDIC as a corporation and FDIC as a receiver, but don't exactly know all that much about the distinction.
I definitely don't see the FDIC filing for bankruptcy as that would not send a good message to the country or the world though.
I think it just means that JPM got outJPM'd .
I'm waiting for the price to go down buddy.
BOOOOOOOOOOOOOm is right. Patience pays off!
Congratulations!!!!!
Is today the day we break through $20 ?
I still say the FDIC pays up, just not anytime too soon.
TARP paybacks don't go to the FDIC my friend.
CPST at .87 in pre-market.
Nice job holding, I bailed yesterday.
Congrats!
A Daring Trade Has Wall Street Seething
Texas Brokerage Firm Outwits the Big Banks in a Mortgage-Related Deal, and Now It's War
http://online.wsj.com/article/SB124468148614104619.html
You are focused on JPM, but your focus should be on the FDIC imo.
Have a good night!
The only problem is that they did not buy Washington Mutual Inc.
The real beef is with the FDIC. JPM submitted their bid and the FDIC accepted it.
Have a good night everybody, and for God's sake, don't do anything stupid like shorting JPM !
The rich get richer, the poor get poorer, nice guys finish last, and if JPM goes down, we all go down.
It's the same reasoning that has been in place for the last 8 months though.
Also, there is no way JPM will buy them until the judge rules on the $4 billion.
If/when she rules in WMI's favor, then there would be an increased chance that JPM would buy them, but even then, I think the will only pay for what they have to pay for, and the FDIC will be the one to pay the BIG MONEY.
The FDIC got what they thought they wanted, and JPM definitely got what they wanted.
I used to be like a lot of people here. I wouldn't let my shares go for anything because I thought a buyout and settlement could happen at anytime. I was blinded by optimism and only saw what I wanted to see.
I still believe that WMI will eventually get compensated, atleast partially, for their stolen banks, but it's not going to come from JPM, with the exception of any IP they want and WMI will part with.
I have said from the beginning that true and full justice will never be served, because I feel that would entail a complete reversal of the "deal", which WMI isn't even asking for.
WMI has a more-than-strong case and a legal team that is the best-of-the-best, but a buyout and settlement before the 24th is a dream .
The FDIC is not going to fork over $30-$50 billion dollars in 2 weeks, and JPM is not going to buy WMI in 2 weeks.
If your going to hit the ask on the preferreds, buy the Ps, as they are undervalued in relation to the Ks, and if you're going to buy the Ks, then for God's sake, don't hit the ask, just be the bid and you'll get filled.
I totally agree. The FDIC set the rules for submitting bids. Bids came in, and JPM won the bidding process. C wouldn't submit a conforming bid, and obviously the other bids that came in were less than what JPM was willing to pay.
The FDIC accepted the bid, and JPM did everything they had to do to by recording the negative goodwill.
I don't like JPM either, but hatred towards someone won't change reality, and it is not a good idea to use hatred as fuel for investment decisions like shorting JPM.
Several months ago boards were filled up with posters that were shorting JPM, and it might have made them money for a while, but they ended up losing their @$$e$ .
Those who short JPM at current prices will be kicking themselves, unless they are only out for a tiny gain.
I think sf knows most of the skeletons that are in Dimon's closet, but extended litigation will be much more costly to WMI than it will be for JPM imo. It would be one thing if WMI was a blessed bank that operated ethically and used sound judgement, but that's not the case.
IMO, if the 2004 goes ahead, it will be a way for JPM's name to be cleared so that all wrongdoing can be pinned on the FDIC.
I'll take that dollar and buy 11 shares of WAMUQ.
If they were intimidating to JPM, JPM won the fight because they took both of them down, and whatever money they end up paying, will be peanuts compared to what they got.
Dimon's not going anywhere.
Go ahead and short JPM right now.
I agree that you should buy WAMU, but if you short JPM, you will be kicking yourself, and Dimon is not going to lose his job.
Plus, JPM is the FED's bank, and that will never change.
They took TARP and made money with it, and they just kept on doing what they've always done.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37065107
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37882756
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37676551
I disagree. I think the Texas suit will get tossed, and if it doesn't get tossed, it will get moved and then tossed. I also say that JPM is saying "bring it on" as far as the 2004 discovery goes. FDIC will be the bad guy, and they will be the ones that fork over cash to WMI. Like I said, I think JPM will only pay for IP that they have been using, and if they do that, then WMI can't even use the name WaMu anymore. JPM isn't going to pay for anything they don't have to pay for, and as far as your claim that "his secret" will get out and spread like wildfire, I don't think Dimon gives 2 $hits about what anybody says, and no matter what happens, JPM will continue on as the most powerful bank in the country.
I understand .
You obviously don't understand that JPM does not care what people say about them and they don't back down. They will drag this out for ages, and they will not pay for anything that they absolutely don't have to.
You act like they have some grand reputation that they want to uphold.
Lawsuits and litigation are old hat to JPM, and to them, it is all part of doing business.
JPM will not be forking over $30 billion + .
They got the banks for dirt cheap, and the FDIC will have to pay for the difference between what was received and fair value.
JPM will have to pay for IP such as the name WaMu, along with damages for using the name without rights, but if you think Dimon will buy the company, imo you're wrong.
Well, they obviously feel that WMI will be paying their creditors.
Those are more good points. Weakining dollar, new products/deals, and good old fashioned "hard products" are a big + .
I'm sure at current prices it's a great buy, especially for long-term, but I just don't have the patience right now. I'd rather try to get them cheaper, like .25, and then sell 'em when they get back to current levels.
Still trying to get the whole patience thing figured out.
You are correct sir, there are times, but imo, too many people are married to their stocks, which is never a good thing.
I think JPM will be paying for the IP they are using/have used/will continue to use, which will be very good when that happens, but as far as a settlement in the buyout sense, imo, it will never happen. The big money needs to come from the FDIC, which will take a long time.
We'll see what happens.
Good points.
So Hain is buying up more debt.
Filed today.
6/10/2009 0812229-1143 1124 Notice of Transfer for Hain Capital Holdings II, LLC re: SafeHarbor Technology Corporation
http://www.kccllc.net/documents/0812229/0812229090610000000000002.pdf
6/10/2009 0812229-1142 1123 Notice of Transfer for Hain Capital Holdings II, LLC re: Arnold & Porter LLP
http://www.kccllc.net/documents/0812229/0812229090610000000000001.pdf
Filed yesterday.
6/9/2009 0812229-1138 1119 Notice of Transfer for Hain Capital Holdings II, LLC re: Affiliated Computer Services, Inc & ACS Commercial Solutions, Inc.
http://www.kccllc.net/documents/0812229/0812229090609000000000001.pdf
We might finally get a decision that will benefit the pps, but I wouldn't be shocked if nothing major is ruled on, and God forbid the judge rules that the $4 billion is WMB's and is/was actually capital of the bank, then look out.
We will indeed see.
If the judge rules that the $4B is WMI's, then we could see a nice pop, or we could see nothing as it could already be priced into the stock. Who knows? Not me, but I would recommend selling into any spike as always.
Usually whatever most people think will happen does not happen though.
0 shorts though, so either they all just covered and it's ready to go up, or they're ready to crush it.
The 5-day shows way overbought though and slow momo.
Something about those AMEX stocks with low volume I don't like.
I'll set an alert and I'll think about playing if it gets to the .22 -.26 range again.
They were letting it up on very low volume today, but once people started selling, down it came. There was definitely someone buying up a lot of .0033s today though, and someone was trying hard to break through the one bid at .0033.
We'll see how tightly people will hold their shares once it goes to .006 + again .
You're on.