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It looks to me like we are all getting a tiny piece of a new/co turd sandwich that may one day in the future be worth something more than what we invested...It's infuriating to see how greed and coruption are now accepted in our world....It's truly sad how JPM,BAIR,FDIC,and of course the no longer OTS all walk away happy and undamaged.
Anyone know if anyone at any point hired and paid for a forensic accounting to try and follow the money? I still feel like we are all getting shafted bigtime.....lol
Thanks Uzual...as always your assistance is appreciated. So,JD gets the win and just a few ruffled feathers...It does not seem right ...Gotta love the way our system is set up. You can basically do whatever you please and as long as you have enough money/lawyers...Oh well maybe one day it will change :)
What happens to the shares of people who either vote no or abstain from voting ?
Bid and Ask over .11 and pre-market volume over 1/2mil shares ...Not A Chance...But good luck anyhow
Go Wamu Longs.......
Absolutely agree with your take on it :)
If they gave WAMU 10% just a measly 39 billion we could have taken wamu above and beyond the massive and corrupt JPMC...Including cleaning out the mortgages that were not up to par...getting rid of the former BOD...and focusing on core qualities we once had..
thanks fssh
Interesting...I am not a mathmatics genius but....did you notice that the numbers stated in the article dont come close to adding up..It says wamu accoounts for 10% of jpm mortgage portfolio of 154 billion... In the 4th paragraph below it says jpm has 69 billion of wamu loans.. not even in my math do those numbers match....any thoughts ?????
Question? If whatever SS has was enough to stop Rosens attempt to kill/cancel equity, Does he have enough to encompass JPMC,FDIC, with the Hedgies? If so, you would have to believe that Rosens courtroom confidence is a BLUFF to buy more time for a true settlement to be worked out. Again I strongly doubt the truth will ever be publicly revealed...IMHO As Always...GLTYA
I dont think the kinks have all been agreed upon yet either..However, I am quite interested to see what is said tomorrow at the hearing. My best guess is that Rosie will pull some of his masterfull B/S and give the boys another opportunity to smash the pps and reload on more cheap stock..Either way, I have owned WAMU since 2009 and will not be doing anything but waiting until it's over or my trigger price hits...
By the way it a nice price target :)
IMO..GO WAMU..and of course GLTYA
When this does finally end it will all be wraped up in a pretty little bow...No one will admit any guilt and no one will be in an orange jumpsuit..I know many of us would like to see that.But, That's not how settlements work..I do honestly beleive we post BK holders will do well on this investment in WAMU..I know it has been a long turbulent ride with WAMU..But, Remember..we who let our emotions get the best of us are loosing track of why we are here...To Make money...IMHO AS ALWAYS>>>GLTYA
With low volume and no news the mm's are free to do what they do best...take in money...lol
Once real news hits and large volume comes in it is harder for them to steal...
I think any selling going on is indeed by traders or the uninformed...IMHO AS ALWAYS...GLTYA
Most MM's dont get in til after 8:30 and activate at that time...Although .21 sounds about right...IMO...GLTYA
Agreed...All there is at this point is speculation on what may or may not happen. Rosens words about the deal are his version....We know for sure that whatever Sussman has was/is strong enough to take equity which has been stated to be out of the money from the beginning and put us in...I think they left out quite a bit....
Here is what my gut is telling me...We will have control over the new company!! It will be a "HOLDING COMPANY" with the mortgage reinsurance being at the forefront..We will be entitled to the NOL'S..........Sussman has this all wrapped up!........I dont have any idea what the final numbers will be but sure am looking forward to finding out...Nov/Dec 09' buys....no longer short term gains :).....IMHO as always...GLTA
Gotta luv the small sells to drop and the huge cheap buys to accumulate. Only wish I had a MM on my payroll :)
Through the rough sea we travel until the deal is done and then smooth sailing.....IMO GO WAMU!!!!!
It should be an interesting day in court. I'll be looking for the swings you are referring to as an oppertunity to pick up a bit more before the end comes. Sussman should have firm controll of the courtroom and Rosey will probably try a head-fake or two before finally bowing down to his ultimate proper place..We will see soon enough....GO WAMU.....IMHO AS ALWAYS
Not surprised.. He's probably been having as difficult time explaining that everything he promised his buddies about making sure equity gets cancelled cant happen :))
johnnywinter show up yet to confirm !!! lol
It certainly should be an exciting finally to this long ride :)
See you all in Vegas once this wraps up :)
GL TO ALL WAMU BROTHERS AND SISTERS ~!!!!!
Just been absorbing and lurking for a long time... Has johnnywinter showed up yet? If so its going to be a great Vegas trip in the very near future :)
May all the long time longs get what we rightfully deserve $$$$$
Agreed 1000%... Otherwise FDIC should have taken and sold asll other Financial institutions that need TARP :) Including JPMC,BOA,etc........
IMHO.. This should be trading at about $4.00 ....
It is amazing what our great country come down to.
Greed is only ok if you are already rich and the common person gets the shaft every single time!!!
GM should show their true colors again in the very near future..Equity will get slammed as usual....
Use caution if you are long in this one...
Call it what it is" A SPADE IS A SPADE AND WILL ALWAYS BE A SPADE"
IMHO AS ALWAYS
GLTA
My gut still tells me that Susman will be providing these guys with a very nasty wake-up call. IMO he is going to wait until they think its a done deal and hit them with numbers from soloman, a list of assets, and leave them with only one way out! Pay or Pay....IMHO As Always
This seems pretty cut and dry.. Someone should print and mail it to THJMW and Susman. The dates are right before they took it all and gave it away to JPM! I am still amazed at the fact they (FDIC) can say that the seizure was just and reasonable..B/S its almost as reasonable as the GSA to give them more than they already stole....If they left Wamu alone it would have been eligible to take TARP funds if it even needed them? The company would most definetly have not only survived but been thriving by now like many of the other financials....IMHO AS ALWAYS...
They got whatever they wanted and paid squat for it!! You and I both know what took place. Bair, Dimon, and the others did exactly what they wanted because they knew there was no way they would be caught, prosecuted, or loose a wink of sleep. In destroying Wamu for what JPM needed it was to them just another dirty job that had to be done.. I only hope one day they will get theirs....IMHO AS ALWAYS GO WAMU
Everyone.. It is fact that Susman is one of the best litigators in the United States. If you honestly believe he would place all of his bets with an examiner you would only be kidding yourselves. He has been through every possible scenario 5x over and has contingency plans for each and every one of them. The next move will soon be made and it should prove to be interesting at minimum. I really dont think the examiners report is going to wrap up anything. This is a BK and a very large one. THJMW is not going to allow any GSA without a clear and definitive list of ASSETS !! Once it is demanded and they are told no GSA until it is produced and varified then the real end game will start to fall into place. AS ALWAYS IMHO GO WAMU
I think you are correct in your reasoning. He will do whatever he can to keep equity out of the money. JPM and others DEMANDED it as part of their deal to be given WAMU. It still shows me that my gut is and has been correct from the beginning. These guys did what it took to crush this into oblivion before the seizure/i.e. naked short selling in huge amounts. Change the CUSIP and its game over for everyone involved in the takedown. In reference to THJMW she is taking the most appeal proof path she can to let this case come to its end. She has definetly given much thought to Rosens tactics and is probably not too pleased to have him in her courtroom. However, she must allow his antics to continue to a certain extent under law and to avoid possible problems. It is certainly going to be an interesting end game. It has been and will continue to be a pleasure to share with this board of excellent people!!!! GO WAMU ...
IMHO AS ALWAYS except the great people part THATS A FACT :))
Another good point is that WAMU had ZERO exposure to the derivitives that caused the bomb to explode back in 2008. JPM on the other had had a huge exposure!! several hundred billion if my recolection is accurate. This was clearly stated in the last letter sent to the OTS before the seizure took place. It is going to get bumpier over the next few weeks in this case. But ! The Truth is the Truth and hopefully we will see some of it in court.
All IMHO As Always.....
voodoo i am waiting along with you and many others for the examiners report. It is obvious to me that there is not a way to completely hide 100+ billion in assets. I believe the number is actually higher then that but it really is not as important as finding how they tried to bury it away. I am most interested to see if Sussman was able to provide enough information to Hochberg for him to sniff out where they buried our bone! I still have confidence that he will show big dollars found and a bunch of un-ethical/illegal actions have been place. Its approaching quickly and I am looking forward to watching the #@#@# hit the fan and the $$$$ hit our accounts! IMHO As Always GO WAMU.....
Uzual is there a link to a list of folks with voting rights? If so please post it. Thanks and good luck today to all of our WAMU brothers and sisters....
Sounds just about right! lol Rosen and the press will report equity out of the money as always and we will still be here long and strong to the end.. Thanks Catz... GO WAMU
If my math is not too fuzzy that is only approx..720million. That might be enough to pay the legal fees they are accumulating. It wont even touch on a reasonable settlement number. JPM just reported a 4 billion profit for q3. multiply that number by 8 and we are getting into the ballpark. IMO the only way this will work out for JPM is to complete a M&A for WAMU. I would have to guess that after all other avenues have been exhausted we will see them simply say "we have bought wamu for xxbillion dollars". IMHO as always... GO WAMU
Even if he lost his license to practice law we know he has a huge consulting gig at JPM after this is over..lol IMO as always
I agree!! That is the only way to close out those invisible positions..That is after all other avenues of getting away with it have been roadblocked!!!IMHO
Voodoo..He has something up his sleeve!! He is a very calculating lawyer and there must be something else we are unaware of leading him to do it. It looks to me like for the past week or so have we have seen pre-emptive posturing by both JPM,FDIC, and BR..Something big is going to happen very soon. The only question is what? I will be holding long just as I have since day 1. I hope the examiner has picked up the trail and follows it to the beginning. I have said this several times already "change the cusip and off to the moon we will shoot" I still believe that there were hundreds of millions of shares sold naked short in the Days,Weeks, and Months leading up to the seizure. JPM had to make the company seem helpless and tank the stock in order to get everyone on board!!Equity Must Be Canceled!!! I cant get past that requirement that JPM mandated before the agreement to complete this happened. WHY? You tell me..I think we already know the answer..IMHO Go WAMU
There are an unkonown number of shares (HUGE IMO) naked short!! That is why cancelation of equity was a must on behalf of JPM. My gut says that we are seeing the another shakedown ready to happen!! LOL GO WAMU imho as always...
The mm's magically line their pockets...lol
One day in the near future they will loose all control and we shall be smiling when the 40+ million short shares have to get covered quickly.. IMHO as always
Will someone please post the dial in number. TYIA
Even if it is filed before the hearing it will be sealed!! IMO..
IMHO of course....eom
I am fairly confident that in order to preserve the huge profits that JPM has been reeping from WAMUs assets the only way out is to quietly settle before its too late. If the examiner of any other entity makes public the actual assets there were handed over to JPM they are toast!!! The fact that this entire thing was a well planed play by the involved parties is sickening to almost all of us. However, Its obvious that the powers that be want to protect a few of their cronies from the criminal truth being exposed. I wish they would all have to pay not only with their corporation/entity monies but from their own personal assets. That way they would understand you cant take what you want without reprecussion. Either way I will hold to the end and feel strongly that SS already posesses the loaded gun and the bullets. He is just waiting for someome else to ask if they can borrow it for target shooting i.e. the examiner >>> JPM/FDIC need to stay off the range and that can only happen if they pay!! GO WAMU!!!!!!!!!!!!!!!!!
I agree with this statement!!! If you take away JPMs 2 largest timely gifts almost 2/3 of who their value would disappear..Its astonishing how they pulled 2 rabbits out of virtually thin air just in time to get TARP monies...TARP was only a fraction of what transpired back in 2008. If anyone could produce the truth of 2008 our entire financial system would be in Global Shame!!! Its disgracefull.. But the powers that run it all will simply not allow for the truth to ever be revealed..The rabbit hole simply runs too deep and the dameage caused would be too devastating. IMHO these same powers will soon call for a large fair number to be paid so the truth stays hidden..FDIC,JPM, will both get the call that says you are both in a bigger sandbox and it does not belong to either of you so quit peeing on each other and just pay!! JMHO.....