Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
pick, Now tell us about the ON GOING LIBOR case where the FDIC is seeking $400 BILLION in damages on behalf of the failed Banks.
"they know once you had the escrows you could not sell them"
rockie, Good point.
There was a reason, even at that time, they made sure they could ONLY be transferred upon death of the 'original owner'.
" Regardless of whether one 'Released" or NOT."
imo, For this to happen it would be almost impossible to manage. What would be the date that a person had to have ownership of said shares? There was quite a period of time they were trading furiously. Suppose you were merely flipping the shares at that time? If you only owned them a day, do you get a portion?
"Gold and silver are pretty worthless. Buy land, grow food and get armed."
"Buy land", but make sure you have enough of 'something' to pay never ending Property taxes....
"I am guessing that JPM will settle Libor for 10B or so in hopes that will assuage the escrow holders so they go away,"
Do the Junior Bonds need to be taken care of first? That would be at least 14B in front of us....
stox, When money (possibly 10's of Billions) is awarded to the FDIC, "ON BEHALF OF THESE BANKS", where do you think it will go?
"IN 1980 the DOW was 965 and today is 37K"
imo, A lot of that is due to the start of letting individuals have personal Retirement accounts. A lot of money was put into the Markets.
BITCOIN HALVING 2024
https://duckduckgo.com/?q=bitcoin+halving+2024&t=newext&atb=v296-1&ia=web
Lots of interesting info. Bitcoin is expected to surge, just as it did after the previous halving.
Go COOP! Go Escrows!
UP .... 0.45 (60.00%)
1,689 shares $67.56
Exuberance might be a bit early. But it is nice to see for a change.
Thank you.
Thank you for that information.
"I know that Schwab is an ongoing transition process."
Do you happen to know when it will be finalized?
12/15/2023
Mr. Cooper Group has added a new SEC filing to its website:
8-K/A (Amended Current report filing)
https://investors.mrcoopergroup.com/financials/sec-filings/document-details/default.aspx?FilingId=17122632
***
"Additionally, our
forensic review has determined that personal information relating to substantially all of our current and former customers was obtained from our systems
during this incident."
***
YEP! This is the type of Company I want to do business with..../s
"AGAIN:
“ONLY IF LBHI WILL STAY AS A GOING CONCERN”
I have been saying these many times in 15 years."
Like you say, 'it's been 15 years'. One would think they would know by now??
This content isn't available right now
When this happens, it's usually because the owner only shared it with a small group of people, changed who can see it or it's been deleted.
Seems a bit odd. Have you thought to call them for clarification?
"There is a specific reason why the Preferred and Common prospectus were voided - the Absolute Priority Rule . On any possible recovery, in order for both classes (Class 19; Preferred and Class 22; Common) to receive one, simultaneously (75%/25%), the Absolute Priority Rule needed to be abandoned. Both classes agreed to this stipulation."
Reiko, How can this possibly be???
lodas has read all of the Documents and CLAIMS nothing of the sort exists...
From Bard (fwiw)
Q:
Is this a factual/true statement: "LBHI is the 'Parent' company of all its Subsidiaries - In Europe & all over the world."
A:
The statement "LBHI is the 'Parent' company of all its Subsidiaries - In Europe & all over the world" is partially true.
Here's why:
True:
LBHI was the parent company of all its subsidiaries at the time of its bankruptcy filing in 2008. This included subsidiaries in Europe and all over the world.
The term "parent company" accurately describes the relationship between LBHI and its subsidiaries. A parent company owns a majority stake in another company and has control over its operations.
Partially True:
The statement implies that LBHI still exists and owns all its subsidiaries. This is not the case. LBHI went bankrupt in 2008 and its assets were sold off. As a result, many of its subsidiaries no longer exist or are owned by different companies.
The statement is vague about which subsidiaries it includes. It's important to note that some subsidiaries may have had their own parent companies within the broader LBHI structure.
Therefore, the statement is partially true because it accurately describes the past relationship between LBHI and its subsidiaries but is misleading in the present tense.
Not to mention the other items mentioned in the PA&A that need to be paid for.
" while one man stands to try and destroy this great country…sad."
Sadly, it is many more than 'one man'.
stoxjock, Thank you for this post!
"is there ANY chance that some of it goes directly to the old WAMU equity shareholders?"
Better question is, Why would it NOT?
Aren't the shareholders the EXACT ONES who were harmed by the damage the LIBOR rigging caused?
"The LIBOR lawsuit is a class action suit filed by investors who bought Washington Mutual securities "
WRONG LAWSUIT!.....
The one we are waiting on is the one filed by the FDIC "on behalf of" the failed Banks.
" WMI does not have to pay us in cash, so it could be shares."
Perhaps, BUT if they do that it means the higher the PPS the LESS shares one gets.....
$9.60 might not be a big deal, but 32,000 x $25 = $800,000. That's a big deal.
You said it was a young guy. Perhaps one of his higher ups saw it and wanted them for themselves or a 'more preferred' customer.
If they were even in your account for a minute, AND they took your funds, you should be able to get YOUR shares back.
I know I would raise a stink.
"what's 1 par equal. ???"
Par is achieved for every $10 Billion that comes back.
For P's = $ 1,000
K's = $25
Q's = I've heard $ 2.00-2.50
The above examples are for 1x Par. If $ 20B comes back, double those values, and so on.
From myplace on the other board.
After Hours Time (ET) After Hours Price After Hours Share Volume
19:47:34 $66.09 9
19:42:25 $65 1
18:33:38 $62.37 41
18:33:38 $62.72 9
18:26:32 $62.95 200
18:04:01 $63.17 11
18:04:01 $64.7 4
17:49:00 $63 3
17:25:48 $63 5
16:08:55 $62.72 1
16:08:55 $62.03 1
16:04:53 $63.95 2
16:02:30 $62.71 102
16:02:18 $62.71 3,205
16:02:10 $62.71 579
16:01:52 $62.71 98
16:00:57 $62.71 190
16:00:50 $62.71 658
16:00:48 $62.71 146
16:00:45 $62.71 657
Check out the LEHNQ board. The posters there most likely can answer your questions.
"Lehmq" Are you thinking these common shares are going to get something, at this point?
I have tried Bard a few times. It is NOT very accurate with what is 'says'. I found it misrepresenting information on numerous occasions.
Hardly an astute investor. I only have CT's. But imo, Lehman has plans to come back in some form. Otherwise, why the OBS to keep them from trading? Answer, to preserve any NOLS. Why would they need them if not going forward? And the CT's ARE tradeable. If no future wouldn't they be delisted? Not to mention that a number of folks have had there shares 'stolen'. Why?
Also, in the back of my mind is the fact that the Lehmans were one of the originators of the FED. These guys usually don't disappear.
My opinion only.
Of all of these different flavors of CT's, LEHDQ, or LEHPQ, LEHJQ, or LEHMQ, etc., is there a 'priority order' in which they are paid?
It looks to me LEHPQ is NON , LEHDQ IS.
This is the description of LEHPQ.
Lehman Brothers Holdings, 7.25% Non-Cumul Perp Conv Preferred Stock, Series P
Ticker Symbol: LEHPQ* CUSIP: 52523J453
Non-Cumul
Good to hear. Did they happen to explain the 'mix-up'?
Royal, I hope you are correct, and this helps us.
"The special assessment will be collected beginning with the first quarterly assessment period of 2024 (i.e., January 1 through March 31, 2024) with an invoice payment date of June 28, 2024."
Royal this special assessment is to help FDIC recoup its losses in recent Bank failures. imo, Not for us.
FEDERAL DEPOSIT INSURANCE CORPORATION
12 CFR Part 327
RIN 3064-AF93
Special Assessment Pursuant to Systemic Risk Determination
AGENCY: Federal Deposit Insurance Corporation (FDIC).
ACTION: Final Rule.
SUMMARY: The FDIC is adopting a final rule to implement a special assessment to
recover the loss to the Deposit Insurance Fund (DIF or Fund) arising from the protection
of uninsured depositors following the closures of Silicon Valley Bank, Santa Clara, CA,
and Signature Bank, New York, NY. The Federal Deposit Insurance Act (FDI Act)
requires the FDIC to take this action in connection with the systemic risk determination
announced on March 12, 2023. The assessment base for the special assessment is equal to
an insured depository institution’s (IDI) estimated uninsured deposits, reported for the
quarter that ended December 31, 2022, adjusted to exclude the first $5 billion in
estimated uninsured deposits from the IDI, or for IDIs that are part of a holding company
with one or more subsidiary IDIs, at the banking organization level. The FDIC will
collect the special assessment at a quarterly rate of 3.36 basis points, over eight quarterly
assessment periods, which it estimates will result in total revenue of $16.3 billion, the
estimated losses attributable to the protection of uninsured depositors at the two failed
banks. Because the estimated loss pursuant to the systemic risk determination will be
periodically adjusted, and because assessments collected may change due to corrective
amendments to the amount of uninsured deposits reported for the December 31, 2022,
reporting period, the FDIC retains the ability to cease collection early, extend the special
1
assessment collection period one or more quarters beyond the initial eight-quarter
collection period to collect the difference between actual or estimated losses and the
amounts collected, and impose a final shortfall special assessment to collect the
difference between actual losses and the amounts collected on a one-time basis after the
receiverships for Silicon Valley Bank and Signature Bank terminate.
DATES: The final rule will become effective on April 1, 2024, with the first collection
for the special assessment reflected on the invoice for the first quarterly assessment
period of 2024 (i.e., January 1 through March 31, 2024), with a payment date of June 28,
2024.
FOR FURTHER INFORMATION CONTACT: Division of Insurance and Research:
Ashley Mihalik, Associate Director, Financial Risk Management, 202-898-3793,
amihalik @InvestorsChoice-6962,
kashoemaker@fdic.gov; Legal Division: Sheikha Kapoor, Assistant General Counsel,
202-898-3960, skapoor @InvestorsChoice-7301,
rymccarthy@fdic.gov.
SUPPLEMENTARY INFORMATION:
Table of Contents
I. Background
A. Silicon Valley Bank, Signature Bank, and the Systemic Risk Exception
B. Legal Authority and Policy Objectives
C. The Proposed Rule
II. The Final Rule
A. Description of the Final Rule
B. Estimated Special Assessment Amount
C. Rate for the Special Assessment
D. Assessment Base and Scope of Application for the Special Assessment
1. Comments Received on the Calculation of the Special Assessment
2. Comments on the Reporting Date of Uninsured Deposits for Special Assessment
Base
"No Class 18 Got Paid Because JPM Assumed Responsibility for the WMB Notes."
Is that documented anywhere? Did JPM state when they were going to 'make good' on these WMB Notes?
I ask, because I don't recall seeing it, if it was.
Good to hear. Don't let up on them.