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Absolutely a valid question.....
Let's look at an example....
EverBank has 27 Billion in assets and 19 Billion in Deposits and is getting ready to be bought for $2.5 Billion.
I have read that Wamu had over 300 Billion in assets and 188 Billion in Deposits, after the runs more like 150 Bil. I know they had Liabilities, but we have seen the numbers posted here numerous times.
The failure rate on their loans were said to be about 17 Bil or less than 6% of their portfolio....
I find it hard to believe Their isn't more than meets the eye here....
Thank you.....the thread inferred WMB.....I was just making sure....didn't want to assume.
TIAA is in talks to buy EverBank Financial Corp., the largest Florida-based lender by deposits, for about $2.5 billion as it seeks to expand in internet banking, according to Reuters. The deal would add to TIAA’s wealth-management business and give the financial-services firm, led by former Federal Reserve Vice Chairman Roger Ferguson, a platform for providing personal and business loans in the U.S. EverBank is primarily an online bank with about 3,000 employees and just 12 branches at the end of last year. EverBank said last week it was in “advanced negotiations” to sell itself to a “well-respected financial-services company” for $19.50 a share along with payments to holders of preferred stock, according to a statement.
http://finance.yahoo.com/m/af30acae-b9d8-3e9d-b993-a9e3bc65ba5b/ss_tiaa-in-talks-to-acquire.html
Are you saying that WMB owned ALL of the WMI assets?
Are you under the belief that JPM bought ALL assets from WMI and WMB or just the Bank?
Please elaborate.....
No, I logged onto my Scottrade account and I have no messages nor did I receive anything in the mail about an address update.
It helps prevent the escheatment process where the assets are turned over to the state.
B/D have to have the client/rep validate their address every 3 years, if there hasn't been an address update.
Thanks for the post.....it has been awhile since I read it.
They mention the 75 mil and 125 mil and "other assets"
Any idea what these assets are?
Another status report due in 90 days from July 26th OR within 30 days of the settlement....
It least someone is hard at work.....
Getting closer and closer by the day.
So EverBank has an approximate value of $2.5 Billion with Assets of $27 Bil and nearly $19 Bil of Deposits.....
http://www.wsj.com/articles/everbank-in-talks-to-be-acquired-for-19-50-a-share-1469530622
EverBank, based in Jacksonville, Fla., primarily serves its customers online and had $27.4 billion in assets and $18.8 billion in deposits as of June 30.
yesterday....
From the WMIH Safe board posted by Jesus M
Pursuant to this Court’s April 27, 2016 Order in this case, the parties
(the Federal Deposit Insurance Corporation, as Receiver of Washington
Mutual Bank, Deutsche Bank National Trust Company, JPMorgan Chase
Bank, National Association, and Washington Mutual Mortgage Securities
Corporation) are filing a status report to inform the court that settlement
negotiations are ongoing.
USCA Case #15-5322 Document #1627100 Filed: 07/26/2016 Page 1 of 4
Pursuant to this Court’s Order, the parties will file another status
report within 90 days, or, within 30 days of the conclusion of settlement
proceedings, motions to govern future proceedings in this case.
Respectfully submitted,
Colleen J. Boles
Assistant General Counsel
Kathryn R. Norcross
Senior Counsel
/s/ Jerome A. Madden
Jerome A. Madden
Counsel
Minodora D. Vancea
FEDERAL DEPOSIT INSURANCE
CORPORATION
3501 Fairfax Drive, Room VS-D-7062
Arlington, Virginia 22226
Telephone: (703) 562-2010
Facsimile: (703) 562-2496
Email: knorcross@fdic.gov
Email: jemadden@fdic.gov
Email: mvancea@fdic.gov
Attorneys for FDIC as Receiver for
Washington Mutual Bank
It looks like the last distribution announcement was filed on the 1st business day of the month, so we may not see it posted until Monday....
http://www.wmitrust.com/WMITrust
Look for a filing by Friday that will announce that a distribution will or will not be made on Aug 1st.
They make a filing every 3 months....
You mean this one?
http://victoryoverchase.blogspot.com/2012/07/is-this-secret-wamu-purchase-and.html
Warning: Heavily redacted......Things that make you go Hmmmm....
Agree, Don't see how WMI assets would bypass the escrow holders, the rightful owners, and go directly to WMIH without being compensated first or at the same time.....IF there are assests.
See post dated July 13th.... Status report due July 26th....
BKShadow posted that DB decision was going to be known by July 26th....
All I can say is that how many Steel companies are in the world?
I think the AM market will support several powder companies. I think AP&C is trying to become the biggest supplier first (think Amazon here) in the AM market.
I also think the plans to expand is because Magnus is working very closely with some of the biggest Aerospace companies in the WORLD.
See the below link for the several different ways to produce powder starting at 3.2
http://www.technology.matthey.com/article/59/3/243-256/
APC produces a high Quality product which is very consistent with the size of each particle, very important in the AM process.....especially in the Aerospace market....
So JPM got ALL of WAMU, not just WMB, for $1.888B?
Book Value to follow?
I do realize there was a bankruptcy........but I also remember K-Mart went through a bankruptcy.....
From page 13 of the 112 page PAA
the Failed Ban purchased pursuant to Section 3.1.
"Assets" means all assets of
Assets owned by Subsidiaries of the Failed Ban are not "Assets" within the meaning of
http://victoryoverchase.blogspot.com/2012/07/is-this-secret-wamu-purchase-and.html
Do you think possibly that there just might be "Assets" owned by the Subs (which now would be owned by the escrow holders) that could be dispersed at some point within the next 2 years or so?
Can you explain how WAMU was in such bad shape based on the below numbers?
Here is an article from April 2008 that explains WAMU's loan situation....
http://www.seattletimes.com/business/where-wamu-went-wrong/
Of their approx 300B in loans, About 138B were in ARM, sub-prime and Home Equity loans, of which they had about 20B in NINJA loans, no income no job or assets.
They estimated overall they had about 16B in losses overall on their books.
This would have only been approximately 5% of their loan portfolio......
This says alot about EBM versus Laser that 3D Systems will be using EBM in one of their own companies.......
The 112 page PAA
From page 13
the Failed Ban purchased pursuant to Section 3.1.
"Assets" means all assets of
Assets owned by Subsidiares of the Failed Ban are not "Assets" within the meaning of
I would say we are Golden......Aug 1st is starting to look really good....
This post is not aimed at you Desperado, but for all to see what the totality of the numbers mean.....
Here is an article from April 2008 that explains WAMU's loan situation....
http://www.seattletimes.com/business/where-wamu-went-wrong/
Of their approx 300B in loans, About 138B were in ARM, sub-prime and Home Equity loans, of which they had about 20B in NINJA loans, no income no job or assets.
They estimated overall they had about 16B in losses overall on their books.
This would have been approximately 5% of their loan portfolio......
I'm sure everyone has read this article, but it sure is good to refresh the memory with this well written compilation of the happenstance of WAMU.....
Http://upstart.bizjournals.com/industry-news/banking-finance/2009/12/07/why-federal-regulators-closed-washington-mutual.html?page=all
Correct.....LBO..... 600 mill can be Leveraged
And we have $600 million to make an acquisition......
Maybe he is counting our money....
Looking forward to Friday and the DB decision.....
The company’s goal is to print one tonne of metal powder a month in 2018, according to Airbus’s head of emerging technologies and concepts, Peter Sander.
Very promising indeed......
Exactly.....banks leverage their Deposits knowing that all depositors will not withdraw their monies out all at the same time....
Sort of like how a company pension plan is set-up, no need for a Pension to be fully funded because not all a company's employees are going to retire in the same year or no different on how SS is set-up..... The deposits are used to loan out and invest.....
The system is rigged for anyone "they" want to be rigged for..... We all knew how the FBI investigation would turn out.....
Remember too that there were about half as many shares outstanding....about 900 million or so
Agree, if the M/A is as big as we think, then more money is needed.....
I am in the camp that nothing happens until after the DB issue is decided, by 7/15.
As far as escrow payout - soonest would be the Aug 1 date just as outlined every quarter, don't see them changing the timeline...
Take a break people and enjoy a long weekend with family and/or friends...enjoy the great outdoors and fire up those grills
Thanks to all those who have served this country and for all those sharing their DD on the Board.
Decision is supposed to be out by July 15 at the latest....
That is exactly how the "system" is set-up.... They make a company pay a fine every now and then just to let everyone know they are there....
Not one banker went to jail.... The inmates are running the asylum.....
That is great to hear, I had a similar experience with a stock and lost it all, still working on that recovery....
The company had hard assets (rocks), thought even if they went bankrupt they would be able to sell the company beforehand.
Company was put into receivership and the debenture holder walked off with the prize for less than 50 million with the Rocks being valued at nearly $2 Billion...... Been dragging around in the courts for about 6 years now...
We should know the decision of DB-JPM by or before July 15th.....