Something is up. Resistance is eroding.

Can anyone here comment on why institutional ownership is a mere 2.19% of the market cap?

And did anyone notice that on July 16, Thomson Reuters/Verus upgraded NVCN from HOLD to BUY?

I think my next article is going to be on the FDIC - and it will deal substantively with the seizure/sale of WAMU. Food for thought!

Not yet, knick. I'm still playing catch up amidst the crazy workload on my desk. This weekend should be rather productive though.

Thanks Gyver! It feels like I've been gone forever - and there is lots to catch up on. I graduated in May so hopefully I will have a bit more time to invest in DD.

That's the one!

Thanks Lawrence, I'm glad you enjoyed it.

Thanks Chiron, I'll keep that in mind as I read up, haha.

Thank you so much!

Thanks for the tip and great to touch base with you on Facebook!

I'm trying to go through posts and docket updates but the breadth of information is incredible. I can't believe so much has happened since I last posted.

Fish!!

Missed you, old friend. How are you? We need to catch up over email soon!

Everyone can download the article for free on my SelectedWorks site - see below:

http://works.bepress.com/richard_ramirez/

Haha, thanks Catz. I really am behind the loop on things.

I would love to hear it - if anyone has the link please let me know. Was it filed on the docket or voiced in court?

Either way, I'll try to access PACER tomorrow morning to catch up on the docket.

I'm back, blue!

Honestly, at this point nothing surprises me anymore. I have no idea where PPS should be headed because I'm far from current in my DD but Catz is pretty grounded with his opinions and has always seemed to know his stuff.

Looks like I am going to have to read up a bit on 11/04 and what is supposed to go down (or up) between now and then.

Thanks! I'm glad I was able to make some kind of contribution to the board and hope I could still be of help going forward. Have you guys gotten around to my article on market manipulation and securities regulation yet?

I'm looking forward to getting to know some of the new faces. We need alot of smart people on board with us if we're to make any progress on things. This $0.07/share is just absurd - and its hard to believe we were at $0.70 once!

Many thanks to you, Oilstrike. I hope to uncover some good stuff as I catch up on things - I think we could all really use a good change in luck these days.

Thanks Gmenfan, missed you buddy!

Thanks Catz, its great to hear from you and I am very happy to be back. It looks like I have my reading cut out for me once I get home from work tonight.

Hello everyone - long time, no talk!

I'm sorry that I have been MIA for so long but I've sincerely had more than my fair share of hurdles and challenges to overcome in the past year, and it doesn't look like things are going to get any better any time soon.

How is everyone doing and what have I missed?

Anytime, Fish. Lets do it. I'm in class until 9:45 tonight but will try to get something started once I get home.

Well, the request has been filed so they will read it. Whether they get behind it is entirely up to them.

They must raise the question (and challenge the examiner's contrary opinion) of whether the estate is receiving adequate consideration for the release of the claims. If they are not, then those claims are in fact being abandoned for the purposes of Hoffman's request.

We need to see the PJS numbers.

I honestly have no idea, but I can say that the Hoffman request was made by someone well versed in bankruptcy law - and while Susman's team is comprised of brilliant litigators, they might lack the specialized knowledge and experience with the bankruptcy code.

I don't know Bopfan's identity - but I do know Hoffman is associated with him/her.

Only the factual components - not Hochberg's opinion of what is right for the estate.

I believe it is going to be a major challenge for us to stay the confirmation process and get the valuation issue resolved before Judge Collyer in the D.C. District Court. The EC must make a showing that the settlement is reducing the value to the estate - and that is where PJS would have to come in.

IMO, this is the most important request filed by the Hoffman team. It purports to submit the withdrawn, abandoned and waived claims (from the proposed settlement and POR) to the D.C. court for valuation before a jury. The EC needs to get behind this immediately. I suspect they did not bring this up because Susman Godfrey is a brilliant litigation shop - not a specialized bankruptcy firm - and they may have missed it. Thank God for Bopfan and his/her extensive knowledge of the bankruptcy code!

If the EC successfully pushes this request forward, then I suspect this case will be prolonged even longer - and if the issue of valuation goes before a jury, Susman and PJS will tear our adversaries to shreds.

Thanks! I'll check it out now.

No need to apologize, Sly. These recent events have really shaken my respect and confidence in the system too. I've been doing quite a bit of thinking about my legal career and future over the past few weeks. In spite of the foregoing, I won't go down without a fight.

It was the least I could do. With the examiner's report dropping shareholder morale and expectations into an abyss, the onus has fallen on true longs to keep fighting. Hoffman filed another request with the court ultimately seeking valuation (in the D.C. District Court) on the claims abandoned by the proposed settlement. We're vigorously opposing this POR from every angle - hopefully the ends will justify the means.

I couldn't listen in on the hearing today. What happened?

Looks good to me, Fish!

Gentlemen, this has been quite an adventure. As they say, "fortune favors the bold." Hopefully, on Monday the tides will turn and we will be rewarded for our bold, concerted effort. Have a safe and enjoyable Halloween weekend - with lots of luck to us all.

Go WAMU!!!!!

That's what the trial and subsequent judgment is for. Settlement is entered into voluntarily by and between the parties with the intention of meeting somewhere in the middle for a mutually beneficial (though not entirely satisfying) result. Judgment, on the other hand, is reached after hostile adversaries use the trial process to argue their cases before a court of law - the end result theoretically rewards the winning party with (as you stated) "what they deserve by law."

I don't have the preliminary report on front of me, but I don't think that was a specific objective - however, it may be implied if the course of his investigation led him to conclude that JPM was to blame for the bank run and subsequent seizure/sale.

And that, my friend, is the point upon which transparency closely borders manipulation. Think about it - but for our tireless due diligence, analysis and self-education, we would be just as ignorant as everyone else. The average investor, acting reasonably and in reliance on the media's ability to report facts, should be just as invested in WAMU as we are. It's the obvious story-spinning and mockery of our legal system that make normal people think we're crazy for betting on a bankrupt holding company.

On the other hand, it's pure unadulterated capitalism - and we will benefit as a result of our dedication and ability to go the extra mile with our collaborative due diligence and analysis. We might as well put on dinner coats with an I-Hub crest when we get to Vegas, because we're part of a very small percentage of the population that (hopefully) helped each other reach some form of self-actualization in the economic sense. We are also "too clubby" (or I-Hubby, really, haha) to fail - but the only difference between us and the Dimons of the world is that we will have abided by the law and refrained from manipulative and/or deceptive practices to earn a return on our investments.

If he identifies malfeasance and has evidence to support it (i.e., Project West) then I presume it shouldn't be too difficult - but I'm not sure.

As for cancelling the seizure and challenging the P&A - it's not his place to challenge it (the trustee would) and he certainly doesn't have the power to cancel it. If, however, he finds that the seizure was unwarranted, he will recommend that the estate be awarded the appropriate relief - which would likely entail a market valuation and subsequent damages.

The court will fashion relief at law - and only in the absence of legal relief (i.e., damages), will it fabricate some form of equitable relief (i.e., recission of the P&A) to compensate the estate.

This Reuters article was garbage. It leaves out some very critical information and reduces our case solely to erroneous accounting - which is not the issue here at all. If the author is going to draft an article about shareholder expectations, then he should follow the spirit and substance of the examiner's preliminary report - discussing the avoidance actions, contract actions, tort actions, and third-party actions - and elaborate on the potential value of such claims.

Starke is a moron if he honestly believes that the parties would have found and used the "smoking gun" by now if it existed. Is he even aware of how little discovery has taken place or the fact that WMI never deposed a single individual? Is he aware of the discovery issues going on between WMI, JPM, FDIC and our TPS friends? What about the Judge Walrath's appointment of the examiner to conduct a fair investigation because of the "failure" of the litigation process? Bottom line is that our adversaries (and our own BOD) have been protecting themselves by witholding information, documents and testimony - and prolonged the inevitable through countless delays.

The examiner is getting to the bottom of this - and where things will go on Monday is anyone's guess. What I do know is that our combined DD and analysis of this case, and representation by Susman Godfrey, is enough to look at an article like this and know that it is not only misleading - but also lacking in substance. We know Hochberg has kicked up some dirt. We just won't know how much or whether it's enough to get JPM/FDIC/WMI dirty enough to settle soon, until Monday.

Have a wonderful Halloween weekend!

lol, that's a good one - how about watching water boil?

There's nothing to do but wait. Hopefully we'll see a healthy PPS rise in accordance with the examiner's report.

Great breakdown!

I do remember briefly reading about WMI/WGM not contesting the seizure and am looking forward to seeing his analysis on the subject.

Interestingly enough, I noticed WMI/WGM is currently trying to retain Blackstone but I'm not quite sure why - perhaps they're looking to contest the PJS numbers that will be presented by the examiner.

Yes, if the trustee takes an ACTIVE role in pursuing the claims against our adversaries. WMI/WGM has been very passive (for obvious reasons concerning manipulation, breach of fiduciary duty and possible collusion) in litigation claims on behalf of the estate.

I haven't been paying much attention to the DS/POR hearings because I believe they'll be dead upon arrival of the examiner's report.

The trustee would serve to replace WMI/WGM insofar as their control over the bankruptcy proceedings is concerned. The trustee, instead of WMI/WGM, would pursue any and all claims to maximize the value of the estate and allow for an effective reorganization. There would be no effect on Walrath's decisionmaking abilities - but the trustee could press her with more urgency than WMI/WGM has over the past two years.