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thanks for the reply, i really do appreciate all the time and effort you put into your response.
my comment to all of your work is. your right! everything imo is true. i dont doubt that jpm is a crook. They basically walked up to everyone of us in broad day light, reached into our pockets, smiled and said "what are you going to do about it..... thats what i thought.... NOTHING!"
me and you are talking about two different things here, and i dont think you quite understand so here it goes.
your point: jpm is a crook and they did illegal things
my point : jpm is a crook and they are going to get away with it.
for the billionth time. i dont dissagree what they did was WRONG!!!!!!! IM SAYING THEY WILL GET AWAY WITH IT! im not going to reexplain why.. your going to have to do your dd on my original post i wrote yesterday morining. its all in there.
the government did everything they could for jpm, cause thats their baby. they are not going pick apart the bank. they are all in bed together in this.
you say i need to do my dd. I say you need to use common sense!
you are so wrapped up in the data, facts and news that its distorting your mind and reality. the reality is, there are rules for us and rules for gov.
your right, your data is RIGHT ON! YOU ARE ABSOLUTLY CORRECT!
but i dont believe YOU ARE NOT GUILTY IN THE COURT OF LAW UNTIL PROVEN BROKE!
sorry my friend, you can keep arguing with me or let it go.
im gunna keep posting, my post. just ignore me cause its not ment for you to read. it is ment for the young minds that read all the positive post here on a daily basis.
Daily there is about 100 different post that claim 8-24 dollars a share when this ends. I hope that to be true!
but i dont believe that. but for young, impressionable johnny utah that has been reading the board and doesnt have a clue about wamu besides what he reads. may put his life savings on wamu cause,... you are just so convincing! you make it sound like time is of the essence. and we both know im not 100% right and neither are you. im just here to put doubt in young minds. i have just as much right as you to post here.
im not here for you, and not trying to convince you to do anything with your money and shares.....
And for the next guy thats going to throw facts, data, quotes and tell me to do dd. "I think you are doing a great job!. keep up the good work!" but Im not here for YOU. IGNORE ME. DONT PAY ANY ATTENTION TO LITTLE OLD ME. OK. remember... im here just to remind the young people. justice doesnt always prevail. its a reality that we have been dealing with since the beginning.
cant deny that!
travelmile,
you witnessed probable cause in 08, the fdic took action. say it anyway you want! they looked at the situation and made a judgment call and took it away from wamu. they didnt wait for wamu to hit .01. dont you remember? it was above a dollar.
the fdic had to do it! panic plays a big part of the stock market right? well before that senerio played out they took it.
no body in there right mind would just watch wamu hit zero cents. and nobody would even remotely take that chance of seeing if it would hit zero cents.
did you not read the news the way i did? yes it is a fact that wamu is not willing to fight for what is rightfully theirs!!
how could you not agree with that? did you get some money?
as far as i read. WAMU WAS NOT INTRESTED IN FIGHTING FOR ANY MONEY FOR SHARE HOLDERS. am i wrong??? correct me please
so you think jpm is.... all of a sudden going to adopt us like a red headed step child?? come'on you really think they would pick us up like that????? common sense man!!!
all the people who picked up hundreds of thousand of shares... now there going to give them 8 buck a share????? never.
its called common sense. reread my first post and it will explain it all.
dont you question what these guys have been telling you????
step back for a minute and only use common sense for everything thats going on. no data, no post, no nothing. the most logical answer will start to fall in place. trust me.
in a few hours from now, when your calm..... start asking your self all these questions. when you do this, you will find real reason as to why i said everthing i have in my original post.
one thing we know for sure. the stock price shows the value of what the companys worth. right? well... wamu is not worth anything and the owners dont want to fight for it. especially if its insainly illegal as you so trully believe. it doesnt take data to come up with this proof. the ones who have more stake in this than anyone of us is basically walking away(wamu).. what does that tell you???? come'on! think about it
IMHO commons wont see a dime.
the people who know wether or not wamu is worth fighting for is wamu. they are not fighting for it! that means to me, they know it aint worth a dime.
wamu may also believe it was seized illegally, but they know their books better then anyone. And there still not willing to try and convince a judge other wise. What does that tell you?
dont you think they want, whats theres too? they lost out more than all of us. your complaining about thousands of dollars and you want to fight. they lost billions and there are not! doesnt that tell you something? their actions tell me what the company is worth. i dont need a trial to tell me that!
Also, lots of things happen that may not seem legal, but its benefitual to do them anyways. the right to do so is given to us by probable cause
jpm and fdic are going to get away with all of this based on that assumtion. wamu lawyers have to prove that jpm and fdic did this illegaly and intentionally. "how are they going to pull that one off?" there is no evidence to prove that and jpm and fdic did this on purpose. thats why there not backing down and why jpm stock is still strong. the fdic is going to argue they used their judgment with what information they had at that time! there probably going to argue they had only seconds to make the decision, and they new the market would destroy wamu and the value of our dollar. "how do you argue against that?" of course the judge is going to argue for the good of our country.
To you, if the stock droped a few dollars, you say "dang that was a bad choice" but you move on. when a bank stock goes down that much they think about economy decisions and what is best for the united states. not just whats in there pocket like us.
Yah i think it sucks what happen, but you probably would have made the same choice the fdic did if you have the united states economy on your back. it was a shot gun decision that had to be made. we all know they had probable cause. if you think other wise, you are in denial. other wise it would a bigger deal than what the media is making it.
as far as the media. their is alot of bashing against the media for not covering this as hard as some want it to be. have you asked yourself this question. what if you were a reporter making over 100k a year reporting news. would you want to ruin your career talking about the illegal wamu seizure on a monthly basis? especially when the seizure was a logical one that most of us would never want to make.
think about the points ive made ppl. such as.... since wamu is acting like it aint worth fighting for, should you be?....
And even if wamu wanted to fight. could they really defeat the fdic claim that, with the information at hand failure was critical and action was necessary! I think the judge is gunna have to agree, it was a call that had to be made.
and lets get this out of the way. obviously jpm and fdic are not crapping their pants over this either. jpm stock is stronger than ever and fdic is not backing down. what does that tell you?
ill tell you... it means they are so confident theres not a shread of proof they did anything illegal, there willing to fight for every penny. And might i add again,.. wamu is not willing to pursue any further legal actions, once they get the 4 bil. the 4 billion that does nothing for us!
if that aint proof enough for you, then i dont know what else is... i am 100% convinced this is not a pay out for anyone. not even the prefereds. 0.10 on the dollar if that.
as far as the EC goes, they are only there to get our voices heard. they cant enforce nothing! the judge has the ultimate decision here. if nobody can agree then they go to trial. which leads to a loser case. WAMU knows it! and..... thats right you said it....! THATS WHY THEY MADE A PIECE OF CRAP DEAL! DING DING DING DING.
you can throw abunch of links at me and tell me to do some dd but nothing can dispute the fact that, the ones who should be fighting the most, and the ones who actually have the power to do it, are not willing to do it!
we all know non of us here have the time, resources or the power to do it. its a loser deal.
Might be 0.00 per share if wamu has anything to do with it
http://www.law.com/jsp/article.jsp?id=1202446186977
based on the link above wamu is ok with us not getting anything per share.
they agreed to a deal that left all of us hanging. they are obviously not fighting for us (common share holders) and that is a fact.
yes i said that is a fact. they are willing to sign a deal that excludes us. read it in the link
Major developments out of federal bankruptcy court in Delaware: Washington Mutual's estate has reached a proposed settlement with JPMorgan Chase and federal regulators that will result in the return of $4 billion in deposits and nearly $2 billion in other cash that will be used to pay WaMu creditors, according to lawyers involved in the matter.
which means to us... we get zip
beware people!!!
we may get 24 dollars a share (hopefully!!)
we may get nothing
nice post. i enjoyed that
agreed.. i will stay on topic as long as i dont get attacked for posting news.. wether it be old or not
why do i get attacked when i post news? my it be old or not. i bet if i posted good news, you wouldnt say anything to me.
why am i not allow to talk about old news. everytime something positive comes up you guys start talking about 8 dollars a share and how its going to be paid out.
isnt that old news being repeated over and over again???
ohh its because what im saying is more likely to be true and its not good for you
are you pretending wamu wasnt up to its ears in debt, because of all its bad decisions. all the money is going to the creditors even if they get more than 4 billion.
im not the only one who believes this. read my post again. if you want i will find many more post saying the same thing.
No Funds For Shareholders
Washington Mutual Preliminary Settlement Has No Funds For Shareholders
Carolyn Beeler
03/16/2010
Washington Mutual shareholders might not recover any of the money they lost when the Seattle–based bank went under last year. A $6 billion settlement package announced Friday would only cover a fraction of what's owed to creditors.
J.P. Morgan Chase, Washington Mutual and the FDIC submitted their settlement plan to a bankruptcy court in Delaware on Friday.
A committee that represents shareholder interests was excluded from the negotiations that led up to the announcement. Hans Borst is a shareholder from California who has helped organize efforts to recover lost Washington Mutual holdings.
Borst: "It's a travesty. I mean they should have been involved in those negotiations, and they will be involved, because they're going to object to this settlement, I have no doubt. And in the end it'll be up to the judge."
Borst says people are already writing letters to the court to protest the preliminary settlement. But he knows the proceedings are only in their early stages.
The banks and FDIC announced their plan to a judge, but it still has to go through formal court proceedings before it's made official. Shareholders will also get the chance to weigh in.
Mark Northrup is a Seattle bankruptcy lawyer. He says the case might end up looking like a long courtroom trial.
Northrup: "It's a very large case and there are billions of dollars worth of creditors, and people who have claims against Washington Mutual, I would expect that the confirmation hearing to be complex and lengthy."
But even after everyone gets a chance to be heard, Northrup doesn't think there's much hope that ordinary shareholders will ever see any money.
Northrup: "General shareholders in any company are always at the lowest rung of the payment scheme in bankruptcy, and they typically receive nothing unless there's enough money to pay all general creditors. That typically doesn't happen."
The banks and the FDIC haven't yet outlined where the money in their settlement plan would go. A blueprint for how the funds would be distributed will be submitted to the court later this month.
For KUOW News, I'm Carolyn Beeler.
© Copyright 2010, KUOW
that sounds right to me too now that you put it that way.
i use to hope for the pps to skyrocket in the $8 range, now i think im going to be hoping for the cash settlement. sounds stress free.
thanks for the reply
i can respect that,
thanks
ok understandable, things are so unpredictable right. that makes sense.
ok guys can i get some real game plan senarios layed out here?
some guys like me dont know exactly what to do once certain events happen. although i know the answer to atleast one of my questions such as event #1.
event number 1: no settlement, thjmw rules against us!
Play book answer: hold stock until i die
event number 2: settlement and jpm offers $8 pps.
Play book answer: dont know?
if after or pre hour is trading at $8 will you sell then or hold for the ringing bell to open and see what happens?
and if you do see $8 pps or even 12 are you going to just hold because you think this is worth a hell of a lot more?
i need to stratigize and be ready to take action like a professional, not some guy that has a lucky lottery ticket.
I think you should. Your portfolio will look better than mine. I bought 23500 shares pre-seizure at 1.91 lol all i can do now is wait... wait my destiny!!!