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LMAO QUOTE:"and forget about all of the 75/25 all things WaMu magical bucket full of fluffy feel good numbers that DO NOT exist"
BBob and LG disagree with you on that one there is no way you or anyone else can convince them otherwise. Poor Souls!!
I agree it is hard to find honorable people these days!!
That sense of honor and duty that you see in tv shows like Star Trek those values have been lost one only sees it on TV.
Quote:"IMO, it was a cushy gig given out to further "milk" the estate, hence the delays and inaction from the LT. Bankruptcies are a cash cow for lawyers and firms so this is nothing new."
I thought the judge has the fiduciary duty to maximize shareholder return??!!
A=Alice G=Garbage ==> Alice Garbage
AZ I guess after all people might say you were wrong about the 75/25% ratio. There will be no money left to distribute at any ratio. LOL
Can someone ask the judge, Rosie or WillieJam if this is it and there will be nothing left but scraps for class 18. Then why in the heck is the estate paying Kosturos and gang Billing hours for??!!
Quote:" As provided for in the Plan and Liquidating Trust Agreement, any funds remaining on hand immediately prior to the dissolution of the Trust will be donated to one or more charitable organizations."
LMAO!! That's what we waited 11 years for??
HHHHHHHHEEEEEEEEEEEEEEEEEEEEEEEEEEEELLLLLPPPPP! Oh my God Im gonna faint....
OHH Boy your in Big trouble, get a better antivirus software!!
Dine give me a summary of how the Lehman CT's are doing!
Don't get me wrong I wish it came true I would love to get $20K per preferred. I just don't think it is likely. I have never seen that in all the years I have been trading yet this a a unique case that only happens once in a lifetime.
Look just to name a few there are many more. Now if what you say is true that they were sold off. I mean if I bought those trusts I would of named them My Own Personal Trust fund not kept it as WAMU trust which as you can see was the depositor in all of them. Common all of these trusts have been earning interests since around 2007...
Trustee DST due November 2036
https://www.sec.gov/Archives/edgar/data/1317069/000095011706004036/a42800.htm
trustee Bank of Amarica due January 2037
https://www.sec.gov/Archives/edgar/data/1317069/000127727707000012/fwp1termsheetwamu07_he1.pdf
Trustee Citibank due May 2037
https://www.sec.gov/Archives/edgar/data/1317069/000127727707000340/fwp3termsheetwamu07_he3.pdf
All of these could be done before or after the due date
AZ I will just be glad to see COOP let go of these WMIH bankruptcy chains I want to see COOP grow and eventually give out some dividends that would be really cool. Hopefully in a few years we see a forward split
Sounds like u do not want to incriminate yourself. Its kewl. We will find out the answers soon.
How much do u think commons will get?? What is the maximum u think preferreds will get??
I am very eager to know what Suckmann deal got for us??? Is it even legal to know what the outcome was five years after the fact??
I doubt he was as good as people claim he was..
So are you still claiming a maximum of $20K per preferred share??
I see your expectations have been lowered I agree 2x face value is possible but $20K or 20X face value is beyond ridiculous, glad your mindset has changed.
Having a distribution in December is the dumbest thing I ever heard. Let them hold mine until January...
There are many banks managing those trusts US bank and wells fargo, bank of America among others but for whom?.
I do not think JPM got all those MBS for 1.8B. That would be the deal of the century
Common sense dictates there is more than meets the eye. I for one refuse to believe it has taken over 11 years to close a bankruptcy that supposedly has no assets and no money.
Maybe you can answer something for me? JPM bought everything related WAMU and changed the name to Chase to all the WAMU banking offices. Why have they not changed the name on all the WAMU MBS mortgages (trusts) that exist today?? Can you tell me who are the owners of all those MBS trusts are??
Zeus you can choose to believe escrow will receive zero that is your prerogative. However some of us believe AZ is being conservative on his numbers. I believe we will get closer to $20 for commons.
I have an account abroad. As far as I can tell my number of shares have not changed since first distribution...
That has to be a collective effort we need around $100K to start plus AZ or someone with expertise or knowledge who can provide the Bankruptcy details and concerns to the attorney. I do not have the knowledge or energy to do that, I'm a follower not a leader.
Yes, Class Action Lawsuit. I mentioned that several years ago but noone listened...
What makes you think GS is not interested? I'm one of the largest CT holders? Someone wanted my shares but I am not interested in selling.
Newflow how many times do people have to tell you there will be no LTI's issued, The Estate is broke the Liquidating Trust have no MONEY to distribute,PERIOD!! The Trust only has restricted cash of $575M and about 30M unrestricted cash meaning they dont even have enough money to pay class 18 next in line which I believe is around $52M. The 200M shares of common stock is useless not even worth distributing among so many.The unrestricted cash is pretty much the $600M KKR lend WMIH for acquisitions. They are basically making no money at all, LOL!!
Any distributions for class 19 or class 22 will come from protected remote assets manage by A&M which are class-specific. Do you finally get it or do we have to explain it again?
NO, JESUS!! Use common sense these criminals do not want a distribution in November or December they rather have the money early in 2020 and not have to pay taxes until 2021. USE YOUR HEAD!!
How dare you, I want my money now all of it!! 11 years was enough no more interest for u!
Quote:"NDT, yes, DSTs or Delaware Statutory Trusts is where the wealth will travel through enroute to our brokerage accounts that will happen 2 to 4 times annually into perpetuity."
Hey fasshon it does not matter Wamu escrow talk will be over soon anyways once bankruptcy closes. We will have an answer soon and everyone will happily or angrily move on to COOP...
$151B in cash from customer deposits no way. WAMU would have been solvent then? FDIC only insures cash deposits up to $250K. Am I missing something here? In my view most of the deposits were assets that were converted to cash later by JPM and gave to FDIC...
I hear you it has been a long road everyone is desperate and giving up but after all this time what is 6 months more. They cannot have this open forever, they have to close this soon. I say withing 6 months...
Hold on a little longer you were an inspiration to me at the beginning and one of the reasons why I hold on to my commons and did not sell them.
Good Luck Brotha!!
I have no idea why it has been updated recently nothing has changed in the balance sheet LOL. The way I read it is FDIC receivership got 151 B deposit from WAMU but seems to have paid it off to someone else so FDIC has zero money left from receivership. The question is who has that Moolah now!! Kosturos??? via DTC??
Voodoo my Brotha do not loose FAITH now that we are so close to the finish line....
I say Rosencrap is just playing with retail if he files exactly on Halloween day especially when "copy and paste" have been calling for major news every halloween! He had more than ample time to have submitted a filing by now, why wait till the last day? I bet he's got the paperwork ready sitting in his desk waiting and having a good laugh...
AZ probably trivial but do you expect your WMB bonds to be paid before or after the bankruptcy close??
LOL AZ is as if they saw your message here and decided to play a joke with us retail folks!!
AZ the one I found has all zeroes and does not show a date. Do you have a link? Just curious to see it.
Quote "... Go the the FDIC Balance Sheet, and look in the lower left corner ... for the first time since what 2016 ? ... the balance sheet shows ... updated as of 10/16/2019 ... (10 business days ahead of the 31st) ... Also, ... for the first time, footnote 2’ is not referencing any interest accumulation being earned on the estates money ..."
Good find AZ you have a sharp eye Keep up the good work!
The Lady has not sung yet but she will!!