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We need to check more sources to see where there may be some misinformation.
WAMUQ: http://data.cnbc.com/quotes/WAMUQ/tab/8
compared to
WM: http://data.cnbc.com/quotes/WM/tab/8
I would love to be in the same room as her when she reads this. If we could see her, I'm sure that her facial expressions would say it all. I think this may be the straw that breaks the camel's back.
Would be funny if this attempt for delay ultimately results in THJMW giving the go ahead for jury trial as "new" testimony and "evidence" keeps coming up at the last second with JPM (but let's strike Mrs. Davis' affidavit because it makes JPM look like a bunch of stupid d!cks). JPMC's lawyers basically would be left standing with their pants around their ankles and nothing but a look of utter shock and disbelief at what has just happened to them.
One man's junk is another man's treasure.
The meek shall inherit the earth.
I don't know. They do move in the same direction, but I think one usually moves before the other and LEHMQ is watching our court action, just like many of us are watching theirs. I doubt that global settlement will include both them and us. They are similar cases, but very different in nature as well. Seems that JPM is trying to decide which one is causing or could cause the biggest problem for them and wanting to handle that problem first.
JMO. Could be wrong.
Usually there is nothing but spam on there. Well that and KOI. I've been trying to post "The greatest heist in history" thread over on JPM goog page.
This forum has a search feature built right into the page layout. Type your inquiries in there. You will find the answer you are looking for. Sorry you are a newbie, but actively looking for an answer is better than being spoon-fed everything you want to know. We get these questions all the time and frankly some of us are getting tired of it.
I agree. Spot on so far. So Jerle, any predictions on 12/12/12?
LOL
I'm just about to the point of vomiting...
http://www.subprimeblogger.com/2009/10/13/jpmorgan-chase-earnings-will-they-beat-the-street-again/comment-page-1/#comment-14556
At least this person isn't a real media person. Just another sheep in the herd.
Sucks that crap like this actually makes it onto JPM's news links on Google.
And I'll wager that the ones that refuse AON's are the ones behind most of price manipulation.
Here is a scenario.
Person A has 10,000 shares they want to sell at say $1.
Person B has 2,000 they want to buy at $1.
The MM for person a, if there is no AON order placed, will sell 1,000 of the 10,000 person A has to person B and wait for another buy order at the $1 mark to fill more of the sell order. Works both ways.
If no AON order is placed, a person risks only getting some of the shares they placed the order for.
If AON IS placed, a person risks not getting any of their shares they wanted to buy or sell.
AON's do work to the advantage of the buyer or seller like this:
Say a buyer wants to buy 1M shares of a stock. If they place an AON order for the entire amount, then when his buy order shows up, it will be public that someone wants in and wants a ton of shares, therefor driving the price up.
Now if they don't place an AON, then the total number of shares they want to buy can be hidden. Thus not driving the price up.
Same works for selling.
Now MM's use non AON's to their advantage it seems by filling as little as they can to move price in one direction or another.
No it is because when orders are placed, most orders aren't submitted with the "all or none" option checked off. This allows the MM's to send through small amounts of shares at a time. If we want to end MM manipulation or at least dampen it, people need to start placing AON orders.
NITE is all over this like stink on a turd this morning. Soon as they get out of the way, tranactions run. When on top nothing moves.
Agreed. Slow and steady is better than a bipolar stock price when watching it. Don't really care about stock price as the end game is what interests me. But if one wants to see sustained gains, it needs to be with good volume and slow increases.
Have a good night everyone. See ya tomorrow.
GO WAMU!
Plus a slight dilution factor.
It may be chaotic for a while, but this could be some "change" that in the long run will do the country and maybe the world some good.
Judge Rules Bank of America Corporation Suit Over JPMorgan Chase & Co.'s Bear Loss Can Proceed-Reuters
Thursday, 1 Oct 2009 09:06am EDT
"Reuters reported that a federal judge said Bank of America Corporation may pursue a lawsuit accusing former Bear Stearns Cos managers Ralph Cioffi and Matthew Tannin of lying in an attempt to prop up two failing hedge funds. A U.S. district judge in Manhattan on Wednesday let the Company pursue fraud and contract claims against JPMorgan Chase & Co, which now owns Bear, and the other defendants over transactions involving billions of dollars, court records show. Two other claims were dismissed, the records show. Cioffi and Tannin are scheduled to go on trial October 13 in a Brooklyn, New York, federal court for alleged fraud over their handling of the hedge funds, whose 2007 collapse helped lead to Bear's demise the following year. In its complaint, Bank of America said it suffered 'significant losses' on transactions because of Bear's having concealed that the funds were suffering substantial withdrawal demands in the spring of 2007 and faced imminent collapse. It said it lost money on a $4 billion securitization tied to complex mortgages it created at Bear's request, and on nearly $1 billion of financing the hedge funds raised from the bank because they were 'desperate to secure liquidity.' Bank of America sought compensatory and punitive damages."
It just never ends with these guys.
http://www.reuters.com/finance/stocks/keyDevelopments?symbol=JPM.N&rpc=66×tamp=20091001130600
I am not saying I'm perfect, but in a world where the rich get richer, would it not help the situation by sending those who break the laws to jail? Looking out for just yourself doesn't solve the problem. I stand by my statement. A check doesn't make the fundamental problem go away. It's candy coated arsenic. It tastes good going down, but slowly and eventually it will be your doom. But alas, I am only human and want my piece of the pie too. I'm doing my part to spread the word to those who might make a change, and if I get rich in the process, great. If not, at least I can say I tried to do something to see that it doesn't happen again.
My hope for justice comes before my greed. I would love to have 12+, but I would feel better knowing that things like this aren't taken lightly and that money doesn't just make things go away. Not being a pre, I have no justification other than greed to want a huge payout, but my principles tell me, if it comes down to $100's of thousands or millions for me and no justice, that makes me no better than them. I'm hoping for both, but you can't have have your cake and eat it too.
I would take .50 a share if I knew that the people behind this would go to jail for a while. I say hit em where it hurts most.
Maybe, I don't know. Would like to see it drop even more right now as I could buy more too, but there is no need for him to post complete bs. He does it on other kinds of forums too. Its just who he is so just either ignore or roll with the punches.
Anyone see this? Was on the Google Wamu quote page:
http://www.marketoracle.co.uk/index.php?name=News&file=article&sid=13894
Sadly, I personally know the individual named socialistsr4change. Pay him no mind. He doesn't take any forum seriously. He just kills some time trying to start stuff. He is just having fun and I know for a fact that he has not sold his shares. He is small time, but he is still in. My apologies for telling him about this forum. He just wants the price to drop to buy more.
Sadly, I personally know the individual named socialistsr4change. Pay him no mind. He doesn't take any forum seriously. He just kills some time trying to start stuff. He is just having fun and I know for a fact that he has not sold his shares. He is small time, but he is still in. My apologies for telling him about this forum. He just wants the price to drop to buy more.
http://data.cnbc.com/quotes/WAMUQ/tab/8
here are the holdings.
If people sell their $12 shares to take in the profits, then yes, price will come down as people are greedy and are willing to take a little less to get cash immediately. But if the value of the company, not share price, remains constant, then the value of each share would still be $12. So if the company closes its doors permanently, those $12 shares must be bought back at face to satisfy the shareholder as they own part of the company.
read post msg# 104406
IF a sell off did occur, which I agree it would, fact is share price would eventually bounce back up. A share represents a percentage of equity in a company. Therefore, if the company has x in assets, y in shares, z will be a set number. So if share value at settlement would be say $12 per share, a sell off might come bringing it down but the shares are still worth $12 as the company still has the same value. So they would eventually level back off and eventually not fluctuate in price if no reorg plan is set.
"writing from London... Spoke to my cousin in the stock market here. HUGE news coming, u wouldn't believe me if I told u.. HOLD ON GUYS and GIRLS, this is it..." -
The only realistic thing I can take from this is that Rosie O'Donnell has finished destroying Japan and is headed their way.
Looks like most holders don't want to sell right now. NITE finally raised the bid ask after 20 minutes. Someone needs to take a plunger to those guys and force them down the toilet along with the rest of the excrement.
Small fry here too, but just be careful flipping. Don't want to get caught with your pants down.
Stop watching it for a few days at a time. Take a walk in the park. It takes time for Weil to get the stars to align just right, but trust me, it will happen. Don't look at pps until after settlement is reached. Too much in our favor to get down about it now. As far as it being worthless, look how much it has risen as of now from when you bought it. Would you have a 4 bagger right now (not including pre's if you have them) if everyone thought it was worthless???
"Dimon won’t say exactly what he plans to do. But he has said there are two things he won’t do: leave to run another big company or retire to just play golf." --- That's for sure. I think he is planning on sharing a bunk with "Tiny".
Plus, got this in an email:
News Release
JPMORGAN CHASE ANNOUNCES MANAGEMENT CHANGES
Steve Black named Executive Chairman of the Investment Bank; Jes Staley to become CEO of the Investment Bank; Mary Callahan Erdoes Appointed CEO of Asset Management
NEW YORK--(BUSINESS WIRE)--JPMorgan Chase & Co. (NYSE: JPM - News) today announced senior leadership changes in its Investment Bank and Asset Management businesses.
Steve Black, co-CEO of the Investment Bank, will become Executive Chairman of the Investment Bank. Jes Staley, currently head of Asset Management, has been named CEO of the Investment Bank, reporting to Steve. Jes will continue to serve on the firm's Operating Committee. Mary Callahan Erdoes, CEO of the Private Bank, will succeed Jes as the CEO of Asset Management and will join the firm’s Operating Committee.
"With the credit crisis largely behind us and the economy recovering, the timing was right to begin the succession process," said Jamie Dimon, Chairman and CEO of JPMorgan Chase. He added, "Steve and Jes will work closely together and complete a smooth transition at the end of 2010. Steve, Bill and the IB Management Team have built one of the strongest investment banks in the world, and I'm confident that together, Steve, Jes and the IB Management Team will continue to build on this success."
Bill Winters, co-CEO of the Investment Bank, will leave the company. Jamie Dimon said, “Bill has played a critical role in building the great investment bank we have today. Together with Steve, he helped steer the business through one of the most tumultuous periods in our history and emerge from it even stronger. We want to thank Bill for his exceptional service to this firm and wish him the best.”
Jes Staley began his career at J.P. Morgan in 1979 and worked in the Investment Bank for 20 years. From 1980 to 1989, he worked in the bank's Latin America division, where he served as head of corporate finance for Brazil and general manager of the company’s Brazilian brokerage firm for eight years. He was one of the founding members of J.P. Morgan's Equities business, which began J.P. Morgan's extension into investment banking in the early 1980s. He headed Equity Capital Markets before becoming CEO of J.P. Morgan's Private Bank in 1999. In 2001, he began his leadership of Asset Management and oversaw the highly successful transformation of that business, which is a market leader today.
Mary Callahan Erdoes joined J.P. Morgan in the Private Bank in 1996 as head of Fixed Income for high-net worth individuals, foundations and endowments. In 1999 she became head of Investment Management and Alternative Solutions for the Private Bank, and then assumed increasingly senior positions in the business. In 2005 Mary was named CEO of the Private Bank and joined the firm-wide Executive Committee.
Jes Staley said, “Bill, Steve and the IB employees have helped build the leading Investment Bank in the world today, and I am extremely honored to be asked to take on this critical role. I look forward to working with the leadership team there, and together, I’m confident we can grow and secure our leading position well into the future."
Steve Black added, “Jes and I have worked closely together on the Operating Committee for five years and I'm looking forward to working with him in the Investment Bank. He's built an outstanding Asset Management business and will be a great leader of the Investment Bank as we try to extend the competitive lead we have today."
Bill Winters said, “I’m very proud of what my colleagues and I have achieved in the Investment Bank. We’ve successfully come through the turmoil of the past 18 months, and our business is best in class. Steve and Jes are extremely well positioned to build on this success, and I wish them and all of my JPMC colleagues the best. I’m looking forward to my next professional challenge.”
Mary Callahan Erdoes added, “It is a privilege to be asked to lead the firm’s Asset Management business. I have been fortunate to work alongside Jes for the last decade as he helped transform this business into an industry leader across all asset classes and geographical regions. I look forward to building upon this great success."
JPMorgan Chase & Co. (NYSE: JPM - News) is a leading global financial services firm with assets of $2.0 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan, Chase, and WaMu brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com
Well if he got them into this mess, the BOD may have told him to either resign or be booted. Resignation always looks better.
Why else would he leave at the moment?????????????
IMO we are very very very very very very close to the end of this mess!
IMO with the recent progress in the case we may be looking at 2 months. Why? I would not doubt it if WMI agrees to postponement of the turnover if and when they are awarded it as JPM doesn't want to part with the cash. If so this would definitely signal settlement talks. The 4B would be wrapped up in the whole deal and topped with at huge bow. Throw in some unexpected JPMC delay tactics and I think in 2 months we see a settlement. This of course does not address the FDIC suits which I think will be much more rewarding. JPMC wants to distance themselves as far away as possible from them now as they know that they have no reasonable argument or defense in their arsenal.
I know that. I was just being facetious. Meaning that we would shout hooray and JPMC holders would cry.
Depends on which shareholders that person is talking about. For us it's great!
Thank you for repeating this. People stay up all night to see just how Frankfurt will correct itself to our previous close.
Question on the adjustment of purchase price by this past Monday.
JPM Marked down the value of some of the loan portfolios by about 30B when they were acquiring them and shortly thereafter raised them back up by 29B. Now if the purchase price was adjusted just on this by say the full 29B... 6B would go to debt and another 4B would go to Prefs leaving 19B as equity. Divide that by 1.7B shares and $11.18 per share. Not factoring in the possible lawsuit awards pending.
When will we know if the purchase price has been adjusted?
Just thinking out loud...
Shorts gobbled those up quick!!!!!!!!!!