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Wow boarddork great synopsis. We are close to knowing all the answers. Once Libor is done it willbe a huge pandoras box opening.
As hold2 says, could be days. Not weeks.
Libor is happening. Just released:
401804/17/2024PROTECTIVE ORDER AND STIPULATION.regarding procedures to be followed that shall govern the handling of confidential material. So Ordered. (Signed by Judge Naomi Reice Buchwald on 4/17/2024)
We are getting close. The judge has a fiduciary duty to follow the proper disbursement of settlement funds.
Hold2wm now thinks settlement is days not weeks away.
I agree but we dont know for sure. A friday afternoon news dump would be prudent. Bury it in the news.
What the new Fdic order of protection tells us.
This Libor order was approved by the judge. So it means 2 things.
A settlement is underway.
The Fdic does not want the terms public.
This may be good or bad.
Will we ever know the amount of the settlement?
How will we know that the Fdic is going to be fair with its distributions?
Lets hope the judge makes those determinations.
We know the Fdic is corrupt so how do we know they will divide the settlement appropriately?
We only have to be right once.
Its a corrupt world so nothings certain anymore. But all things are lining up now.
So ask yourself this.....do you feel lucky? Did you release?
LOL. So the FDIC keeps 400b???
Where do you people come up with this nonsense?!
Libor is on deck.
Yes Ron, this could be us. This is the first I've seen the FDICR mentioned in these recent filings.
Let's see what the coming days bring. We are close to something. I don't see this getting dismissed.
Will Libor be a summary judgment? Maybe.
There is a difference between a verdict and a summary judgment. A summary judgment is a decision made based on statements and evidence without going to trial. It's a final decision by a judge designed to resolve a lawsuit before trial.
So if a settlement cannot be agreed to Judge Naomi can make her own decision, which is very likely. Fdic wants 400b. Hoping the judge makes it at least 200b.
Suzuk. If Dimon does monitor this board:
Jamie boy. You have one last chance to right this wrong before you meet your maker. I suggest you consider restitution before you get to the pearly gates. Otherwise you arent going to like the eternal results of your deed. Your choice.
Xoom, the 10 day move up means only one thing.
A settlement was offered. Sounds like it was turned down but who knows. They always start with a low ball and the Fdic pobly said no way. All part of the game.
I agree and disagree with Alice.
No way does the Libor take up to a year. But I do agree that a settlement offer has likely already been made, albeit small and thusly declined.
She is making an educated guess but nobody knows the amount or timing.
I am more in the hold2wm camp. He thinks our Libor deal is only days or weeks away. I think we are very close as well.
My guess is by June. 50-100B
Lettuce pray.
Hi David. I got your note.
Nothing is certain until we see it in our accts.
I think we are closer to escrow payments now than we've ever been.
The first shoe to drop is in Judge Buckwald chambers. Let's hope she sees the grave injustice of our case and the corruption that has wiped us out these 16 yrs. Many of us have since died , gotten sick or divorced, filed for bk, etc. 40,000 Wamu employees lost their jobs and life savings.
So yes, the Fdic sued for 400b.
We shall see what the settlement is because no way will this go on to trial. Let's hope God guides the judge and all involved into a just resolution.
This next week could be big for us. But who knows in this crazy world!
Bang. Those who give shall reap the benefits. Those with greed will pay a price for that.
If we get the kind of money I think we will there will be plenty to go around. Help our vets, disabled, animal rescues,
elderly. So much need out there.
We can still have nice things and a good home. Yep. There will be plenty to go around. Visualize. Think abundance.
87b over 16 yrs is 100b.
So many avenues for payment once Libor settles.
Help those in need....you dont need a diamond rolex.
And dont forget the animals.
Collectively we can affect great change when we have money.
Good karma.
xoom, and hold2wm said very soon as well. There were several docs posted this weekend re Libor. So I'd say we are very close, maybe this week. Wonder when the due date will be for payment. If the judge finds in our favor which is most likely, I say she gives them till June 1 to complete payments. So, the brokers will offer us loans for those who need money sooner.
I may be totally wrong.
But I doubt it.
LP. Thats why Dimon mentioned that 30b he "found".
He was preparing the shareholders that he'd be returning that, plus interest. And much more.
Look people, dont think for a second that the hedge funds arent on top of this. And Dimon knows that. We Will get paid. Getting closer by the day.
Could this be our Libor week?
Lots of items cleared up in court last week. Our case is last on the docket. Judge saved the best for last. Will it be 10b 100b or 400b? That is the question.
Mega settlement under cover of war in the news. Nobody will care about our settlement as the war will dominate the news.
Lets hope this is not the end of the world...
Several Libor cleanup settlements underway giving a green light to the final mega settlement.
Sure why don't you knock on your son's school teacher's home door. Or the local sheriff's home door. Or your bank manager's home door.
Come on man. Leave people alone in their home. It's stalking. STOP please. I understand your anxiety about getting paid but bothering people in their private life just ain't cool. Relax. Ask your doctor for some valium.
Viking. This is different because the largest plaintiff of this 400b Fdic case is Wamu. 70% of Wamu investors who got killed by Libor were hedge funds. No way do the hedge funds give up on getting payment. So fnf will get their due as well. How much we dont know yet.
Its all unfolding now so we should know soon.
The judge in charge is 80 yrs old. I doubt she wants to retire with a legacy of failure. I doubt shes intimidated by Jpm at this point in her career. I think she will do the right thing and find in favor of the people. I sure hope so anyway.
Libor settlement may be happening now.....settlement conference with remaining defendants in chambers.
Thanks to Ron for the doc info
LETTER MOTION for Conference Regarding Preliminary Approval of Exchange-Based Plaintiffs' Settlement with Remaining Defendants addressed to Judge Naomi Reice Buchwald from David E. Kovel and Christopher Lovell dated April 9, 2024. Document filed by 303030 Trading LLC, 303030 Trading, LLC, Atlantic Trading USA, LLC, FTC Futures Fund PCC Ltd, FTC Futures Fund SICAV, Gary Francis, Gary Francis, Nathaniel Haynes, Metzler Investment GmbH. Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-02613-NRB.
Declaration of Vincent Briganti and Christopher Lovell
Order Preliminarily Approving Proposed Settlement with JPMorgan Chase & Co., JPMorgan Chase Bank, N.A., Citigroup Inc., and Citibank, N.A., Scheduling Hearing for Final Approval Thereof, and Approving the Proposed Form and Program of Notice to the Class
Declaration of David E. Kovel in Support of Exchanged-Based Plaintiffs’ Motion to Authorize Distribution of the Bank of America, Barclays Bank PLC, Citi, Deutsche Bank, HSBC Bank PLC, JPMorgan, and Société Générale Net Settlement Funds and for Reimbursement of Claims Administration Expenses
Since June 2021, amongst other activities, Mr. Kovel obtained the then-largest publicly announced single whistleblower award arising under the Dodd-Frank and IRS whistleblower programs, and successfully reversed a lower court ruling that dismissed a large number of foreign banks from In re Libor-Based Financial Instruments Antitrust Litigation, the high-profile litigation related to the banks’ alleged fixing of the LIBOR benchmark rate, which is now proceeding against certain non-settling defendants.
It appears LIBOR settlement is imminent. I expect news soon on how this will impact Fannie and Freddie but I will say this. I think the share price right now is a total bargain. I think we will see 4 bucks very soon.
GLTA
Well if this isnt our case shirley we are getting close.
And stop calling me shirley!
Libor settlement may be happening now.....settlement conference with remaining defendants in chambers.
LETTER MOTION for Conference Regarding Preliminary Approval of Exchange-Based Plaintiffs' Settlement with Remaining Defendants addressed to Judge Naomi Reice Buchwald from David E. Kovel and Christopher Lovell dated April 9, 2024. Document filed by 303030 Trading LLC, 303030 Trading, LLC, Atlantic Trading USA, LLC, FTC Futures Fund PCC Ltd, FTC Futures Fund SICAV, Gary Francis, Gary Francis, Nathaniel Haynes, Metzler Investment GmbH. Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-02613-NRB.
Libor settlement may be happening now.....settlement conference with remaining defendants in chambers. Pray folks.
Thanks Ron.
LETTER MOTION for Conference Regarding Preliminary Approval of Exchange-Based Plaintiffs' Settlement with Remaining Defendants addressed to Judge Naomi Reice Buchwald from David E. Kovel and Christopher Lovell dated April 9, 2024. Document filed by 303030 Trading LLC, 303030 Trading, LLC, Atlantic Trading USA, LLC, FTC Futures Fund PCC Ltd, FTC Futures Fund SICAV, Gary Francis, Gary Francis, Nathaniel Haynes, Metzler Investment GmbH. Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-02613-NRB.
LG, the difficulty is how do you value new Ps in relation to the escrow Ps.
Obviously the current value of a P escrow is far more than par, just based on interest alone. It will be interesting to see how they calculate this conversion if we do get Ps from COOP. Surely it cannot be 1 for 1.
Add the New Ps and Ks to the Libor settlement and that comes to a pretty nice amount.
Once Libor is done I believe the hedgies will insist on the waterfall. Bank payment, assets, etc. Jamie can't hide the sausage much longer. 16 years has been long enough!
We will all do our part to get this economy moving soon.
Hi David, you may be right, I may be crazy.
Fact is, we just dont know how this will all shake out. I think we are very close to finding out though. Once Libor is done the waterfall begins.
Judge Naomi is a dem so will she go easy on jpm and dismiss the suit or will she want to help the current administration and inject money into this floundering economy?
"No way will they be tradeable. SCHWAB and others didn't buy Ameritrade for shits and grins. If the investors want to sell their new Ps, they sell to the broker. Period.
They ain't letting go of the golden goose for their private investment gurus. Hey you can get your money out. They will love you for that! THEY KEEP THE SHARES."
Bonderman Savitz Tepper Coattails
Libor looking very good. Judge Buckwald slammed down the gavel and said NO MORE DELAYS!
Shes upset about all their reindeer games at 80 yrs old. She wants to complete this final suit and go into retirement knowing she did the right thing for the people. Id bet there is a settlement already on the table in her chambers. Once she analyzes it she will rubber stamp it. My guess is 100b. The suit is for 400b. But settlement is all about compromise. Id be thrilled to get 200b as some say it will be.
Wamu was the bulk of the suit but Fannie and freddie will be squared away too. Fdic gets its 10%. The small banks in the group get resolved.
This should all move along quickly now. Fannie at this price is a huge bargain as you will soon see.
Libor is coming.
Are you ready?
Loving these bargain prices!
This references Libor only. Bank payment is a different bucket.
From hold2wm:
"Dimon and FDIC likely have the settlement ready and once FDIC gets the deal from UK banks, then US banks will come to terms w/o additional legal fight imo. That said I won't be shocked if we see the Libor settlement in the next few weeks."
Of course I know that's not what SOME of you want to hear. Nothing is certain. But hold2 has been following Libor closely and is not an easter bunny type. Let's see what happens. I think this yr could be big but who knows???
LG, some on smart board think our Ps will be converted to new Ps. Interesting idea because that could be done easily without it costing anyone anything. They would just be traded on the open market. But who would issue the new Ps? Coop or Jpm?
And what value would be placed on the new Ps? Surely much more than $1000 face. Then what value would they have going forward if assets, minerals, etc. start to come into the equation. It gets really complicated.
Jww...imagine the pps when the 2.5% hits.
Could be meteoric.