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Merry Christmas!!!!!!!!!!
If you were a fly on the wall, you would hear nothing but cursing, see nothing but chaos, and smell nothing but the stuff they left in their depends.
As always, thanks for your input Mordi. Tomorrow should be a fun day. Big money with an eye for DD will probably be pouncing on this despite the grim outlook on commons from the article. Even if FBRC holds us at .15 like uzual is thinking, I'd bet that volume goes pretty dang high.
They must not know the true value of all the suits. Anyone who thinks that commons will get nothing IMO will be very surprised. The $4B isn't all of it and plus it's already factored into the MOR's. Good news with the headline but the content needs reviewing. Oh wait, I see. Kristen didn't write it. LOL.
Thanks for the link though.
I knew a whale would come up for some air.
FBRC has been wanting a 100k block all day at .15. We may get their wish soon.
Amazing how this thing moves when NITE gets off the bid/ask.
FBRC still wanting to sell 100K at .15... Nowhere on the bid... HMMM....
I really wouldn't be surprised to see a whale buy today. MM's seem to be holding down for something like that. May not even see it, but all these small trades @ or around .11 could be a whale.
Fingers crossed.
Notice that FBRC is sitting on the ask @ .15 for 100,000! Way down the list. Could it be a sign???
Well I was going off the ones I could read. Many of the unreadable ones were just bank numbers. But yeah half the powerpoint presentations were unreadable.
OK. I'm ready. Maybe tomorrow, maybe not but soon...
I noticed one thing in all of the JPM presentations looking at costs related to either, buying WAMU or "bidding" on it. None of the projected cost analysis charts have any factoring of legal services. Except for the $500M indemnification from the FDIC. So IMO that either states that they were so arrogant to believe that they would get away with it, they thought that WMI would just go away without a fight, or they were just stupid. The bill they are running up on themselves must make them wonder about their godly ability to see into the future.
Anybody seen an agenda for Friday yet???
Somebody needs to take a plunger to NITE and FBRC to push them on down the toilet. A 1/100th cent spread. Come on....
I second that motion!
OK dude. I didn't need a reason, I needed an excuse.
This also explains why Goldman Sachs was/ is present at many of the hearings. They know they may have unintentionally or intentionally involved themselves in this mess.
Paragraph 25.
25. JPMC's Rule 2004 Discovery suggests that JPMC communicated regularly with
Goldman Sachs concerning access to and requests for Washington Mutual information. Goldman
Sachs therefore likely has information relevant to the allegations in the American National
Complaint concerning JPMC entering into false negotiations with WMI under the guise of a
good-faith bidder, gaining access to WMI's and its subsidiaries' confidential information, and
the potential misuse of that information.
I would think so. But in a way, it would be nice if JPM was arrogant enough to fight this so we could find out what is going on so we can get the ones out that need to get out.
I needed a reason to have a beer tonight.
Thank you so much for the link. I knew that something big was about to come out, because nothing of significance has for a while..
And LMAO about Grind. She has just made a name for herself with this one. I hope this pushes her career to new heights. She deserves it.
This is GREAT!!!!
C
Did this just come up on Ghost's page???
Mark, nothing is for sure here. We have a very good feeling about this but, never, ever risk more than you can comfortably afford to lose on something like this.
As soon as I buy stock in Wamu, I write it down mentally as a loss. That way, if by some chance this doesn't work out, I won't cry as hard. But if it does, it will be like getting a lifetime's worth of Christmas bonuses all at once that I didn't expect to get in the first place.
Just something to think about and good luck!!! Go Wamu!
I'll wait for a while before I buy
Good luck with that. Yeah down 75% from 52 wk high, but still up 350% from 52 week low.
I'm going out on a limb here. Look at the wide gap in bid/ask. Notice the only ones filling in the gap are NITE and FBRC. I expect another big one to go through.
Thats what I am seeing too. CRAZY!!!!!!!
Why is there a trade showing up as 8,409,000 @ 12:05:31 on advfn?????????? not in volume total.
BlueBird, I'm sure you'll do fine. I was surprised to see that all the shorts were so low on the prefs. It reassures me that those short on commons will probably or are following suit.
Bluebird... No PM sorry.
This is what I saw... From Y!
What do you think is going on????
Here is the short interest on the following ticket symbols:
WAMUQ
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=wamuq
6% Decline from Oct09 to Nov09!In only 14 days
WAMKQ
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=WAMkq
162% increase but look at the total! only 3000
WAMPQ
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=WAMpq
0%!!!! None zero nada!!! amazing since Oct09
WAHUQ
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=WAhuq
0%!!! NONE ZERO NADA!! Since Oct 09 also!!
I think we are very very undervalued here. Why are all the prefs still holding strong with nice gains today? Last time wamuq was at 10 cents p's were in the upper teen$. I'll bet my bottom dollar that we will see big short covering for this period when the report releases. The prefs don't have hardly any shorts out and it makes me think that something is brewing.
Run into the omnibus anyone??????
All IMO.
And I will be here holding long and adding when I can. Been away for awhile and probably will be the rest of the month. Just want to wish everyone a Merry Christmas, Happy Hanukkah, or what ever you celebrate.
Maybe, just maybe, we could get some good news from the next omnibus. I'll be keeping an eye out for the agenda.
Chuck
The FDIC has it. They stated that if they were forced to pay out money to WMI that they would only pay the amount of the sale. The DC judge Collier didn't like that from the sounds of it.
Hope everyone's Thanksgiving was great. Safe travels.
I'm with you Penny. I'm just waiting for something to happen. It kind of feels too quiet if you know what I mean.
Neither. When in litigation and having to publicize info to TPG's investors, it is always better to say expect loss and have investors leave (even if recovery is likely) than to say hold on to your shares everything is going to be ok and have new investors come in (when there is a realistic, though slight, possibility that they may not recover any losses).
Anyone else having problems getting into KCCLLC.net? Wanted to check some court docs.
Not necessarily... In the response to the FDIC motion that Ghost posted today, WMI's legal stated that there were around $100 B in claims although they believe that most of those claims will not be allowed.
http://www.ghostofwamu.com/documents/08-12229/08-12229-1872.pdf
"Further, more than $100 billion in claims have been filed against the Debtors' estates in these chapter 11
cases. While a significant portion of these will not likely be allowed, they are further evidence
that the Debtors are currently insolvent and would be at the time of any exercise of Section 9.5."
So in all fairness to the share price, I think that it may truly reflect the markets "value" of the company at the current moment. I would imagine that most of the claims would be wiped out after the NOL's are claimed and the IRS backs down from their said entitlements.
JMHO
Lest we forget the copyright infringements, breach of contract, moles etc... if JPM has any dirt on their hands and our justice system follows though, JPM won't walk away unscathed.
Sadly, most people will only hear what the media is telling them. No news about Wmi for the most part so sadly, most people will never know about wmi. This will be a story we will tell our children's children.