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Help!
I received am email from Ameritrade on an OPT OUT OPTION.
I am extremely uneducated on bankruptcy procedures.
Can some one outline (simplistically) what this is and what the your
personal thoughts on where commons stand right now.
Thanks in advance!
How about 939ESC968??
I've just received my voting material in the mail and I am lost as usual.
Can someone give me an explanation of these items in layman's terms? I think I know how I should vote, but don't want to do something stupid.
Also, is there any penalties on not voting on this proxy?
TIA,
Thanks Jerry!
I will check to make sure this is covered!
5th Third.
Update:
Didn't get much info today....I am not my father's POA, so they could not release what happened.
I have my account thru them as well, so I asked them the "What if" question.
Sounds like because the account value was so low and the fee was due, they just sold to get there commission. I would expect this behavior from JPM not 5th Third....lol
Anyway, still digging...I just have to make sure markers weren't affected.
Thanks all! Keep positive!
The notice states
We have acted as agent
Lots without specific share instructions will be depleted using
First in, first out method. Unsolicited order.
I'm convinced the bank did this, father is pretty much disabled.
I don't want to think negative, but I feel they are up to something.
Help!!
My father's bank just sold all of his shares. Only had a small amount, but he has had them for years.
Any clue why they would have done this.??
I'm kinda pissed. This long, finally getting motion and they sell?
Can they do this?
Any help is appreciated.
I'm calling tomorrow.... I'll post why they did this.
Diamond, LG, AZ,
Can all you post your option on what this can lead to? It sounds encouraging, but like many I am quite lost in the path of where the true end is.
Thanks in advance!!
GLTA
AZ, Large,
Excuse my ignorance, but I'm still confused on the potential equity payouts.........does this include commons? (WAMUQ's)
If so, where does it fall in the scheme of things? After the others get paid??
Any guestimate on what this would be if U's did get paid?
I understand this is "IF" senarios, but just wondering if my U's are worth anything.
TIA.
I don't either.........I just thought it was kinda funny that it traces out "WMI"
whats the odds of that...lol
OK PEOPLE,,,,AM i SEEING THINGS OR IS THE CHART STARTING TO SPELL SOMETHING OUT FOR US?
YAHOO LOOKS DIFFERENT BUT SPELLS THE SAME
Thanks Catz!!
Soo...correct me if I am wrong......
Exit date was 3/19/2012 which has given us little over 2 years so far.
At the 3 yr mark, I assume there will be some type of leagal doc extending the additional 3 yrs??
Can anyone tell me if there is an offical cut off date for escrow shares potential payouts?
Thanks Doc!!
I've been patient soo far.
Just gota keep hoping it makes it to the Uq's
Good luck!!
Wild...
What is wamuq ....class 19 or 22??
Also, did this first distribution reach the wamuq class?
Thanks!!!
Help ANYONE......Im such a rookier at this stuff
What does the LTI distribution mean to a WAMUQ only holder.
TIA.
I'm still just floating about in ignorance...........
Can anyone give a short take on what they believe is still to happen with the escrow account & our new stock.
I'm long all the way believing there is something here.
TIA.
Thanks Rad.......
That's what I have, but what is going to happen to the old shares??
I read posts that talks about this so called escrow account being potentially worth something.
What is your take??
Thanks again.
Help!!!....Lost again.
What is the story with the old shares. If I am reading these posts correctly, the share are in an escrow account and may be worth something???
I thought these share would be just zero'd out.
I see in my Fidelity account the actual trading symbol change numbers.
Does someone know what actually will happen to these shares??
I am just as confused as many here...........I am going to wait till the end of the week....1/27.
I have not seen the SIGNED DS yet. ANYONE??
This document still needs to be signed...Correct??.
Sorry if I missed.
Fidelities response to me was:
Thank you for contacting Fidelity in regard to receiving correspondence about the Washington Mutual Iinc. (WAMUQ). I am happy to assist you.
I do not have any information specific to your account; however, I have learned some information about the ballot for WAMUQ that you may find helpful. The ballot has still not been printed because a judge has not yet signed off on it. As soon as the judge does make a ruling, and signs off, the ballot will be distributed. There is currently no timeframe on when that is expected to happen. Once you receive the ballot it will indicate directions on how to cast your vote.
Fidelity will not be responsible for this mailing. If you have additional questions, please contact your representative at XXX Bank. They should be handling all inquiries about the bankruptcy procedure for you.
I hope you have found this information helpful. Please have a great weekend.
Great Post.....Thats Catz.
I think this should posted above......Any seconds
Help!!
Im totally lost.....LOL......Not afraid to admit.
Can someone post the senarios of voting. This is way over my head.
Who can vote?
What should we vote?
Im assume it would have to do on your positions...Owning P, Us etc
If you dont vote, does that affect you individually?
Is there that may outcomes of voting??
I only Hold a hand full of U's I was just gunna ride it out, but I am concerned on losing all if I dont vote something.
Thanks for any help anyone can give.
Thanks OS.
I assume that the 250 - 300M that has been posted is something that rosenthong has stated and is nothing more than anal vapor.....is that somewhat correct or is there some truth to that value??.
Anyone??
FYI.........This board really does ROCK. Many Many Intelligent, knowledgable folks.!!!!
Thanks to all
Is there an official document showing the valuation of the assets?
Im see postings of 250 - 300M........Is that the offical value??
I'm soo lost on how you guys put this stuff together!!!!...LOL
Any help would be appreciated, just trying to understand.
Thanks
I wouldn't have thought she'd call it the biggest failure.....
I am still under the assumption that it was a wrongful seizure.
Hmmm..........Time will tell
Is this Strike 2??............
Maybe we can throw the 3rd strike at em??............LOL
Just let the madness end!!!
WASHINGTON (AP) -- JPMorgan Chase & Co. has agreed to pay $211 million after admitting one of its divisions rigged dozens of bidding competitions to win business from state and local governments.
J.P. Morgan Securities LLC made at least 93 secret deals with companies that handled the bidding processes in 31 states, the Justice Department and Securities and Exchange Commission said Thursday. Those deals allowed the bank to peek at competitors' offers.
Banks help municipalities invest the money they raise from bond offerings so that they can earn interest before paying for projects. They compete by submitting to state and local governments the best yield they can offer.
The alleged bid-rigging deprived governments of a true competitive process that would produce the best returns on their investments, Assistant Attorney General Christine Varney said in a statement.
JPMorgan's settlement covers complaints brought by the SEC, the Internal Revenue Service, bank regulators and 25 state attorneys general. Nearly a quarter of the money will go toward settling civil fraud charges brought by the SEC. A large portion will be divided among states, in part to pay restitution to victims of the fraud.
JPMorgan agreed to cooperate with the Justice Department's investigation in exchange for not being prosecuted, the agency said.
The company admitted and accepted responsibility for the illegal conduct. It blamed it on former employees of a division that has since been shut down. The company said it "is pleased to have resolved this matter with its regulators." It said the settlement will not affect its financial performance.
It was the second major federal settlement for the bank in the past month. JPMorgan settled civil fraud charges with the SEC in June. It agreed to pay $154 million for allegedly misleading buyers of complex mortgage investments as the housing market collapsed.
One former executive of the bank's securities unit, James Hertz, pleaded guilty in December to criminal charges related to the bid-rigging issue. He also is cooperating with authorities.
In all, the Justice probe has resulted in criminal charges against 18 former executives of financial services companies and one corporation. Including Hertz, nine of the executives have pleaded guilty.
Here's how the money from Thursday's settlement will be divided:
-- The SEC will receive $51 million to settle civil fraud charges.
-- JPMorgan will pay the IRS $50 million because its actions violated rules governing municipal bonds, which are tax-exempt.
-- The bank's main regulator, the Office of the Comptroller of the Currency, will receive $35 million.
-- The settlement with the states is worth $92 million. That includes half of the $35 million JPMorgan agreed to pay the OCC. The settlements have a face value of $228 million because $17 million is counted twice.
JPMorgan's agreement includes the District of Columbia and these states: Alabama, California, Colorado, Connecticut, Florida, Idaho, Illinois, Kansas, Maryland, Massachusetts, Michigan, Missouri, Montana, Nevada, New Jersey, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Texas, Tennessee and Wisconsin.
Bank of America and UBS have agreed to settlements based on similar municipal bid-rigging charges brought by federal and state authorities. Bank of America Corp. agreed in December to pay more than $137 million. UBS AG agreed in May to pay more than $160 million.
JPMorgan shares rose 95 cents, or 2 percent, to $41.51 in early-afternoon trading Thursday.
I am far from an investor, but am learning alot from this board. I am still unclear on how a payout could happen.
Can anyone explain HOW a settlement will most likley happen??......
If the value goes up to 24.00, will it stablize there? or is it possible to come back crashing down to pennies again.