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Think about it!, these 3 historic events were carefully planned.
1. the seizure was rushed
2. they were not offered TARP money like the rest.
3. Banco Santander and Dominion Bank were blocked from bidding probably a higher price than the opposition, Citibank was involved too.
Do you really think it was a coincidence that JPM got WAMU... not by a long shot.
I believe Killinger and Rotella pulled a fast one on Demon and Diva and could not get their hands on WAMU mortgages just servicing rights that's why Diva got booted from FDICK...
They gonna have to pay good value to get those..
Funny how people conveniently forget commons were also affected by insider trading allegations but apparently preferreds are the only ones that get to benefit from that judgement, LMAO!!
Quote:'Yeah this is a great theory everything stops at class 19.'
Some people use this board for comic relief , others use as a mean to escape into financial freedom. I say let them dream!!, they have the right to do so....
Quote:"It's only going to get worse as the 19th comes and goes and reality begins to set in....put on your seatbelt, even more nutty behavior to come. LOLOL"
I bet Killinger and Rotella were not happy to have to gift their baby to Mr. Demon. These guys were competitors and my money says they did what they could to protect WAMU, noone will never know to what extent only a lucky few.
Noone knows what is behind door number three.One cannot file for bankruptcy protection and declare hidden value at the same time, LOL. Also there is a big difference between Chapter 7 Bankruptcy protection and Chapter 11. This is Chapter 11 Kosturos and gang have been paid and have the responsability to maximize and protect all the assets shielded outside the bankruptcy process and kept away from public eye. People here have been asking the wrong question since day one, Are we gonna get paid? The answer has been YES all along. There are too many players with a lot more shares than you and I that stand to lose a pretty penny.
The right question to ask is How much? In my opinion there has to be at least $20B to make it worth while for the players. Before you start nodding your head left and right consider that someone used a lot of ink to blackout many key Wamu documents and do not forget FDIC and JPM are still looking for the list of transferred assets which to this day was never found but the court was allowed to rule without it....
I still can't believe we are finally here! Rich or Poor it will be over!
Final Countdown ~ 7 days remaining
Well Ron that is no surprise AZ has been saying no LTI's and no 75%/25% pie in the sky for years now!!
We are waiting for Mary to slam that hammer. First once there are no more objections as in griffin Tantrum then WMILT can disburse the reserve funds and residual common shares which should be donated to charity since there is not enough for everyone. Then the submission of Final decree which needs to be approved by the court. Then Kosturos resignation as his job would be over.
Do not expect a distribution this year which would be silly in terms of tax purposes. My guess would be end of March.
Lets see if we do not spill it looking at our accounts !!
Quote:"AZ what does it means? Enjoy your coffee tomorrow morning as all of us! All best!"
LOL, and how do you know the Big players did not fooled retail into buying preferreds while they were loading on common shares using their offshore accounts??!!
Did you protect yourself? did you diversify your investment? Cause it looks like you did not....
My suggestion is to trust Kosturos and the people who are in charge to keep track of who gets what. Yes there are many trusts out there not just one and we don't know what the distribution mechanism is for fact but AZ's theory makes sense to me.
AZ's philosophy is not that preferred will get paid less than commons or not get paid their fair share that is total BS. Arizona Cowboy says the returns will be class specific and that the 75%/25% ratio only applies to WMILT left overs which at this point are gonna be given to charity. What part of class specific don't you understand??!!
OHHH and I concur with his assessment...
I think it was more before seizure but thats even better that means 3M x $1000 just $3B preferred vs 1.5B x $40 equals to $60B common stake.
I believe you are overthinking this. The answer is actually very simple preferred were given a higher conversion because their participation is in the millions, commons conversion was lower because their participation was in the billions. They had to compensate because the numbers of share count between classes was different not because preferred deserved better money LOL!!
the escrow number just determines if you are preferred or common escrow holder, it makes sense to separate them if the payout is different but that does not mean preferred will get 75% and common will get 25%. Learn to diversify your investment. Your momma never told you not to put all your eggs in one basket??
Common sense dictates you and your posse are definately on the right path! Lets do some basic math here shall we. I believe there was around 10M preferred shares maybe less at $1000 for a total of $10B and around 1.5B common shares at $40 for a total of $60B when the bank was seized. There was a court judgement in favor of all WAMU shareholders and clearly common folk own the bulk of the company. However you believe $30K per preferred is low and should be $60K per preferred share instead since preferred allowed commons to get a piece of the pie according to you. I think you are onto something .... or maybe your mental faculties are deviating just a bit!!
Just thankful for the update. Washington mutual case is lagging too.
Thanks Ron, I had to read docket #12686 several times before I could understand what you were alluding to and why AZ is keeping quiet. Griffin could get a new set of ammunition and prevent bankrutcy close. Lets hope she does not find out before December 19..
Thanks Cotton!!
Im confused, How does Griffin filing benefit Retailers?? Other than delaying the process...
I still have trouble believing some Retail fund a TPS mole, why?. And they still proud of it... ridiculous
Quote:"PACER might have detected and rejected the FILING as "FRIVOLOUS" IMO."
Az I really hope you continue posting after bankruptcy even if it is just sporadically. You are like the biggest gold nugget everyone desires to find...
I did not say that I was just curious about the fund cause I never seen it before and I post the information however Im not sure it has anything to do with us.
Funny thing is they only list the top 10 holders..
Also it has no known Issuer. https://seekingalpha.com/symbol/FWMIX/peers/comparison
Looks like FWMIX started trading on 1/27/2017 at 4:00 although there are WAMU trusts mentioned in the propectus from 2001. So its relatively young stock almost 3 years old.
I doubted that would dilute existing shareholders unless our shares are there assigned or accounted for already with our names and dont know it yet... LOL
Wholly crap if you read the propectus on that there are there are 13 different classes of shares dating all the way back to 2001.
Nevermind thats open to the public, brokerage firms, retirement plans, college funds etc... Another Dead End
Hey Ron could you more specific please...
LOL!!
Has anyone seen this before?
FWMIX - American Funds Washington Mutual Investors Fund
As of September 25, 2019, American Funds Washington Mutual A has assets totaling almost $116.61 billion invested in 164 different holdings. Its portfolio consists primarily of large blue-chip equities such as Microsoft, Coca-Cola, American Express, Verizon and Royal Dutch Shell. The fund has returned 7.72 percent over the past year and 12.66 percent over the past three years. The fund has returned 10.45 percent over the past five years and 13.38 percent over the past decade.
If you still have a doubt or itch about making money on WAMU maybe this is another chance at it..
Ohh you are speculating cause I did not see anything WAMU related or mentioned on that prospectus.
I doubt is related unless they are raising money to buy RMBS.
Royal why would you think this is related to us? Can u explain?
Forget about all the repetitive discussion here I want to see POOP jump to $3 or $6 in a single day after bankruptcy close but hopefully not before I buy some more...
Quote:"Your friend went off half-cocked" LMAO
Fred I see u and Bbob are the only people posting on this board, stock pretty much dead. Good Luck guys!!
LOL voodoo at least you have not lost your sense of humor...