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Jamie Dimon the lemming nobody will soon want. Once JPMC fires him he will have nowhere to turn.
Anyone who hires this schmuck deserves to be boycotted as sure as he ruined Wamu and now Jpig he will do to any company and all with a golden parachute and immunity from prosecution.
Time to burn JD.
Cash
Ditto but he also needs to go to prison.
He is public enemy #1 in the banking industry.
Cash
Sucks to be Jamie D! Bet the BOD votes him out.
Couldn't happen to a better chump The Captain always goes does with the ship right?
He's getting blasted on twitter and a new site i found out there called http://www.exposebadbanks.com where
They can't blast him enough.
The chickens are coming home to roost and the lack of new business capital combined with customers ditching JPM and closing accounts is having an affect I'd say. Keep during the price down I say.
Glty
Cash
Roach58. That's because a few here were allowed to post misleading opinions proclaiming 2 or 3 times a preconvieved value from four years ago.
Cash
Funymuny what's real funy is you hot snookered by those few who kept posting 2 or 3 times a made up value. But that's what happens when you start lurking in December and the bk gets finales and locked in March.
My recommendation, don't believe DD unless it has a court document baking it up.
IMO
Good luck on your revenge stock.
Cash
Sounds good!
:) have a great day.
Cash
Monica - Im of the belief that What often gets filed can often be overturned, amended, appealed etc., so it's best to reserve an opinion on preliminary filings till the gavel falls and checks are received.
I remember for years a few here proclaiming 2 or 3 times a pre BK value after WMI exits BK, yet we are all still waiting to see this happen as well, and it was all due to some great DD but DD does not mean anything till all the battles are fought and the winning part is proclaimed, victor. IMO
Have a great day.
Cash
Monica look at my post
I made no mention about what you are referring to but if I had, I'd say the judge deffinatly was bought off at high levels of government.
IMO
Cash
Wamuq is all but over and there is no such thing as 2 or 3 times some Value from over 3 years ago. IMO
Cash
You admit now that you have never seen a valuation report yet you profess 2 or 3x's a value from four years ago.
Make up your mind eh!
Cash
Ifyouwish, the reason you now feel like you were taken for a ride is not because of the way the court hearings were going but rather you were sucked in by a few here proclaiming riches and fame with a bogus 2 or 3x's a made up value based on a pre BK offer.
Let this be a lesson to not always believe things you read on message boards as there are those that purposly post misleading messages for their own agendas. IMO
Cash
It's more realistic than 2x's_a_made_up_price
IMO
Cash
Interesting read.
Posted by Bizreader.
20 comments
Lehman Brothers to boost the market?
By Maureen Farrell @CNNMoneyMarkets March 5, 2012: 12:47 PM ET
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Lehman Brothers and Washington Mutual are expected to return roughly $15 billion to bondholders over the next six weeks.
NEW YORK (CNNMoney) -- In a twist of capitalistic irony, traders are betting that the very banks that are synonymous with the 2008 financial crisis might actually boost the stock and bond markets over the next two months.
In preparation to close up shop for good, Washington Mutual and Lehman Brothers are expected to release roughly $15 billion back to creditors by mid April. It will be the first time that the estates of these banks have paid back bondholders since both firms filed for bankruptcy protection in September 2008.
"I think you'll see excess money going into stocks, and it should cause a big move up," said Kamal Kasera, managing director of the New York hedge fund NineAlpha.
Several traders and large fund investors said they've been scouring the market for the past month trying to figure where the funds returned to Lehman and Washington Mutual creditors might go.
"It very well can give a short term boost, because it's so much liquidity and the settlement of uncertainty can be a positive," said Komal Sri-Kumar, chief global strategist at TCW. "It won't be a long-term boost but certainly for two months it will."
The 10 largest U.S. bankruptcies
The expected $15 billion payout is dwarfed, of course, by the $712.4 billion that the European Central Bank recently handed over to European banks, but those banks appear to be stashing a lot of that cash back at the European Central Bank.
However, investors expect that the release of some of Lehman and Washington Mutual's cash will be more significant to the market, because the recipients are largely investment firms that should use the money to buy stocks, bonds and real estate.
Some of the money could move into high-yield or junk bonds, because a lot of Washington Mutual and Lehman Brothers' debt was purchased by large hedge funds that invest in these bonds.
After nearly three and a half years in bankruptcy in Delaware's court, Washington Mutual recently confirmed its plan of reorganization and is expected to emerge from court protection on March 15, 2012, according to the firm's attorney Brian Rosen of Weil, Gotshal, & Manges.
Wall Street's dead? Really?
Since both Lehman Brothers and Washington Mutual are liquidating, leaving bankruptcy court simply means the shells of both dead banks will enter their final chapter, where a new board, not the court, makes the primary decisions of how and when to return money to bondholders based on each company's reorganization plan.
Portions of Lehman and Washington Mutual did survive in some form. British bank Barclays (BCS) and Japanese financial firm Nomura Holdings (NMR) acquired pieces of Lehman's trading and banking operations in 2008. And JPMorgan Chase (JPM, Fortune 500) bought a chunk of Washington Mutual assets in a deal brokered by the FDIC after WaMu failed.
Creditors of Washington Mutual should receive their portion of roughly $5 billion within 10 days of when the bank leaves court protection, according to Rosen. At the latest, they should have checks in hand by the end of March.
By the time Washington Mutual officially finishes paying back creditors, Rosen said they should disburse about $7 billion. The process should be mostly wrapped up in the next six months, Rosen said.
Lehman Brothers is a larger, more complicated case and one in which its "final chapter" will take several more years to conclude.
In the next six weeks, Lehman's creditors should get their first $10 billion payout since the firm filed for bankruptcy protection in September 2008, according to several sources close to the case.
The fund should officially "emerge" from bankruptcy early next week, according to the three sources. When it does, seven new directors will direct control over distributing what's left of the bank to creditors and selling the firm's remaining holdings.
Lehman's creditors could continue to receive payouts for the next several years, probably two to four times per year. By the latest estimations filed in bankruptcy court, Lehman Brothers is valued at roughly $65 billion. $30 billion of that is in cash. The rest is investments made by the firm, including real estate, private equity and derivatives that still need to be sold.
But regardless of what happens over the next several years, the fact that money from the Lehman and WaMu bankruptcies may help lift the markets for the next few months is a curious footnote to the 2008 meltdown.
First Published: March 5, 2012: 9:48 AM ET
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Tombrady where did you see an official court document that claims commons will receive 2x's fair value?
If you were basing your investing here on a few people's hypothetical valuations, then you've been had my friend, sorry to say.
IMO
Cash
Ditto radium
I have been saying that real time and a few others but I have yet to see one court document that claims 2x or 3x's any value. Sure would be nice but I like you, want it in writing and enforceable.
Wouldn't you say!
Cash
Ifuwish according to two posters here 2x's and 3x's some value they created adds up to $24 per share.
If they wish hard enough maybe wamuq will be worth $65 per share!
Heck, one could only hope!
IMO
Cash
It never amazes me how a few here keep posting 2x's or 3x's a made up value when the value is under .04 ps. No matter what math or rolling of the rocks people chose, keep focused, don't be fooled and go by the newco price and legal court documents as your guide.
Keep searching those crystal balls and tarot cards and whatever else makes you feel good but WAMUQ has NO value other than what's posted above.
Cash
So much for those who claimed on Monday the price would keep rising.
I think those traders were stuck with shares they wanted to unload so they posted hyped up stories so suckers would buy in and they could sell.
FYI: anyone buying in now stands to be added to the list of losers as the shorts cover.
IMO
Cash
With all do respect this was proficized?
Over two years ago but the dream was kept alive by so called DD and fictitious claims of 2 x's some preconceived made up value.
Lesson for all, beware stock trading. IMO
Cash
ifuwish22000 very nice calculator tools should be stickied
as we move closer to the END date, these will become more important to those who care, IMO.
Cash
Oilstrike, sounds like a good plan to me,
between now and then. Nice that you could accumulate so much. If you hold till it gets halted, and these are not part of your vote yeah or neah, what will happen to them after the newco takes over?
And could these then get frozen once halted, unable to sell and become worthless? Just wondering as many others are probably here too!
Cash
Es1 good one.... eh! :)
Royal Dude, how many times does it have to be said on this board that there is NO 2 x's a made up value. You'd think that the past two months would have clarified that notion, most specifically dude.
There is only a couple here who have been claiming this under wishful pretenses in an attempt to keep that dream alive. They live in a fantasy world most of the time not backing any of those claims up with a single legal document. It is math turned around to convince the nieve and lack luster investors who want to follow instead of lead.
Ask yourself, what is 2 x's value? What value. A year before the takeover, one day after the BK, last week? It's anyone's guess and a guess is all it is and ever will be. IMO I am still laughing at how nieve those are that keep claiming a made up valuation......lol
Cash
Expect to see it halted soon.
Now that the plan has been accepted there will most likely be some form of halting taking place.
Glad to see shorts taking a bath for once. Hopefully now the blog will hit 100 million and the pps soars before it get halted.
IMO
Cash
I thot since preferds did not accept the plan that commons were out of it all together?
Did something change, I missed the hearing.
Cash
It's no coinsodence that we we sold out after the vote when shares are locked.
Cash
YUP, now you sit back and wait.
Cash
When all deadlines have expired wamuq will no longer be tradable. When the newco takes over wamuq will be dead and a new stock will emerge out of the ruins.
Cash
The long anticipated HALT is not far off.
IMO
Cash
Lou there has been no offers made anywhere. This stock hasn't even been halted yet. There are some that keep posting false information that does not get deleted and then people here think its true. Don't believe all the hype and personal guesstimates. Best thing is to just wait for officials sources to make it public.
IMO
Cash
JD-since when has any value been officially sanctioned?
This made up value is pure speculation to keep people buying in hopes of getting rich.
Remember until it has been made public by the new official BOD and market, anyone can claim any value for Wamuq to keep sucker in buyers.
There is no proof of any value after this is halted.
Cash
WAMUSHAMU I agree, I-think-it hasn't been looked into for a long time and now that votes are getting cast and shares locked, it would be nice to see again who owns what from the institutional side ie: large holders of WAMU shares. Maybe someone on this board has more time and insight as to posting an updated list for all here to see. What do you think?
Cash
Thanks UZ
Where is the Institutional Stockholders list?
I remember a couple years ago, there was a web site that shows who the institutional investors are and how many shares they own. Does anyone know the web site addresses for this?
Cash
commoner, yup but as the cookie crumbles, many who stuck it out may see a nice payday. My thought on investors who buy WAMUQ, if they do not pay some form of attention to media reports, stock reports, news articles or forums, they shouldn't even be buying stock. I doubt that any large numbers of wamuq investors bought in without any prior research, but I would bet, that many out there have not received a ballot, been burned by brokerage firms that could care less about assisting common stock holders and that many will not know what to do or not get their ballots in on time and lose everything simple because they are lazy or don't know what to do.
If anyone here has had poor service from a brokerage house in the handling of their ballot or stock, I'd suggest transferring your holdings to a firm that does care. I for one use Scottrade and the broker I have is the best, very helpful and keeps me posted on everything.
Just my opinion.
Cash
Don't-be-surprised to see this get halted next week.
And there is no 2x's a made up value no matter how this gets painted by a few in la la land.
No one knows what the value will be and by looking at the track record of all the predictions of the past three + years by so called DD experts, so far any prediction made is just that, a pre diction of one's opinion. None of which have come true as for the pay out and 2x's some made up value.
All the predictors since 2008 kept claiming riches based on how the trial was going and all the documents DD'd, yet look where we are now, at under .04 a share and still dropping and a very uncertain future. IMO of course.
Cash
Why would you have to write your brokerage name in anywhere on the ballot docs if that same brokerage is processing your vote.
Cash
The-implication-by voting is you will get some distribution with the newco. Implying a distribution by voting and locking your shares to me, implies those who vote and get their shares locked will receive some form of distribution. That implication is pretty well spelled out throughout the voting documents and would have some legal binding. IMO Anyone with legal background feel this also?
Cash
Looks like 2x's value never was a reality just one person's wishful thinking. Too bad so many long term investors tied up serious cash only to see it watered down to nothing. Only time now will tell if this ever does any good. IMO
Cash
Yup I should have included that statement as well. Thanks for the headsup.
Cash