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goodie Re: wwhatthe. Correct. I forgot that. Not sure if he has premium.
Anyway, I just wanted to let him know what I found out about our escrow positions with our brokers. He can read it here. I will post it next.
Also goodie or zoom.....please copy over my escrow position post to the BP folks. I'm having trouble with that login....thanks.
wwhatthe. Please PM me.
Payment for the bank, Libor, WMI assets, and more.
We are in for quite a year. I wouldnt take out a loan yet, but start conceptualizing what you will do with newfound wealth. Its Easter. So please be sure to help others and animals in your wealth plan. Together we can do great good.
Wwhatthe, thank you as always.
You are a voice of reason, fact, and sensibility in this sea of chaos.
Whilst your post may seem complex to some, it is an excellent summary and really quite logical and simple. I have also tried to reassure people that our escrow positions are safe and sound. They just need to keep their accounts up to date, ensure profile accuracy update beneficiaries etc.
If they received that small share allocation way back when that validates their account and is proof that they are on the list.
I believe we are close to seeing money, likely initially from Libor.
Thanks sir, and dont be a stranger.
I feel very optimistic about our chances.
Happy Easter to you and all believers.
Boris
Next two weeks are crucial for escrows.
If we dont get a settlement by 4/14 we likely won't until Oct. It's hard to believe Dimon would want to file depositions with the court now. Why would he? Would be stupid. He's hanging a pretty big matzo ball out there if he lets this go past 4/14. But arrogance can make you do some pretty stupid things so who knows? Personally I'd love to see him in an orange jumpsuit. I think Judge Naomi is the type of judge that could do it to. At 80 yrs old I'm sure she's sick of the evil and corruption that is so pervasive now in this country. This case will be her legacy. Hoping God guides her to a just decision.
Hold2wm on bp feels we may see Libor any day now. 208b is his guess. That would give wamu about 100b. Maybe more.
Lets see what happens.
Pray. Happy Easter.
KCC, Computershare, and the court have escrow records. So don't worry about your broker. All's well. If you signed the release and filed that W9 you are golden.
Pray Judge Naomi Buckwald decides in our favor. She is an excellent judge, top notch. At 80 yrs old she has immense experience so I like our chances.
All flavors of escrows will be covered.
If it is par plus interest as goodie and bop surmise then Ps get 1000 plus 15 yrs of interest. Qs get about 2 bucks plus interest. Not certain about Ks.
I believe bop says wamu gets 56b for each 100b.
At least Rosen was right about Libor.
He said we could get Libor money way back when. He was wrong about other payments not coming back but at least he was right on this. I'll send him a Starbucks gift card when we get paid! The cheapskate will probably run right out to get his free coffee. He'll hope its too hot and will spill some on his junk so he can sue them. LOL
Correct Bigbang, nothing to do with our suit.
He is just trying to clear his name. Our case should likely be settled in the coming days leading up to Apr 14.
I cannot imagine this going to trial because the defendants would be crushed and likely get hit with the full 400b....plus possibly jail time for some. Visualize Dimon in an orange jumpsuit.
They can settle now for half that. Maybe even 100b, which will be their starting point. The judge may allow that but I doubt it. 200b is more likely. How much would go to the Wamu estate is hard to say, but it could be very significant.
Good luck people who released. And Coop will also benefit as many escrowers will buy Coop shares because they are familiar with it and see the great potential.
As Ive said before, a friend had contacts who worked at the FDIC and they said it was totally corrupt and dysfunctional. How did they ever get so much power?!
And they had the power to take down Wamu!
Split. Libor has until Apr 14 for depositions to be filed. Its been very quiet even though depositions are ongoing. Or are they?
Maybe they will not do any and just offer settlement at the 11th hour. It would be a private deal in the judges chambers which she would no doubt approve if reasonable.
400B is doubtful but the FDIC needs money badly because its broke, so they may settle for half that.
Who knows? We can only guess at this point.
Could 2.5% Libor be looming??
Maybe. Somethings up even though the mortgage biz is soft right now.
Very nice Split. The stars are aligning indeed. A thing of beauty.
Escrows are golden. As corrupt and evil as things are and have been, I don't see how we can get screwed now.
Bring on Libor. And the rest.
Coattails
Correct Ron. Few know about the FDICC. Thats possibly where our money resides.
My fear has always been the corruption and evil pervasive in this fd up country. Our court system is a mess. Will justice prevail for us, or did the crooks rob us and get away with their crime, as many do these days.
We may get paid and we may not.
Did you read the filing Split posted?
"JPMorgan Chase will not be acquiring any assets or liabilities of the banks' parent holding company (WM) or the holding company's non-bank subsidiaries."
This says it all about the WMI assets.
A beautiful thing.....irrefutable.
Thanks split t.
Yes WMI assets were not involved in the seizure. Many still dont understand that! Thats where the big money is.
Plus Jpm still must pay for the bank as Ron has stated repeatedly here. The 1.8b was just an administrative fee. Geesh.
The silence of the hedgies is deafening. They know much more than we peons.
This is going to be a big year for escrows IMO.
Coattails
Goodie, we dont know how long disbursement from a Libor settle will take. My guess is a few months. It depends on how big the settlement is. Once details are announced I agree with some that our brokers will offer loans to those clients who wish to get funds sooner.
We should know something by Apr 12 one way or other.
The next date is Oct 4 when discovery is due.
Hard to say. I know hold2wm has stated he thinks this could happen any day now.
The escrow positions in our account history will be reactivated soon. Libor is looming and will likely be the first avenue of several payment possibilities.
This looks like a great year for our escrows.
JPMC now doing massive hiring of wealth management staff. Gee, wonder why???
Split t, yes escrow holders are starting to get contacted for wealth management and sweep accounts too. Why now? You know why.
Things are starting to finally happen. Libors likely the first salvo. The brokers may offer loans if future payment dates are established so we can get money asap. Its a beautiful thing.
Congrats to those who released. We might have quite a year.
Cal62. You dont post much so let me enlighten whilst under attack:
Your concerns are unfounded. Do you think the hedgies threw their hands up and said, Oh wtf....who cares that we lost 7 billion dollars. No big deal.
Trust me, behind the scenes they are all over this. They have the resources and staff to go toe to toe with the Fdic, Dimon, and anyone else. Remember coattails?
Also, I suggest you search back through Whatthe's most recent post. Yes, the LTs markers are gone. But our escrow POSITIONS are not! Got it? The court, Kcc and Computershare have the lists. Your broker has your escrow info in your account history. Take a look. Its all there in black and white. Dont listen to the jpm investors here. Your escrows are fine.
Now, its up to us to keep our personal info in our broker acct current. They cant follow after 8500 people and wipe our butts for us. Its our responsibility to keep our profiles up to date.
So we are fine. If we get paid they will find you and your W9. Relax.
Now, I am going to sit back and watch the barrage.
Regarding "pro escrow" posts.
Well its like buying a stock! Do you know that the stock you bought has guaranteed success to go up in value. Of course not! Cmon man. Your argument makes Zero sense that being pro escrow is some sort of abomination that needs to be maligned, attacked and deleted.
If someone posts a pro escrow post, and you dont believe their DD, theory, or viewpoint, then just put them on ignore! Boom. Done. Why attack them?
I am very close to done here. 90% of my posts get deleted because I am positive on escrows. Its been nice communicating with some of you here. But the mod selection here is baffling and driving me out...which I guess is what they wanted all along.
Few will even get to read this post. It will be quickly deleted.
To LG, xoom, AZ, Ron, and those trying to educate and inform I wish you all well. While nothing in this fiasco is certain, I think we have a decent chance especially with Libor. Best of luck to you guys.
I am in Libor agreement with hold2wm.
He also thinks we could see settlement in the next few weeks.
I doubt Dimon wants to extend this because he knows its a fight he cannot win against the FDIC.
Since they are the ones who seized Wamu for him in the first place, this is a way to make them both look fair and reasonable.
April 12 isnt far off now.
Make sure your broker has your current info.
Hello Brother AZ. Thanks for your efforts and insights.
Libor looks good. Nothing is certain in this mess, but it appears we could be getting close to payouts from various sources. I'm hopeful that Libor news could happen any time now. Apr 12th is coming. Does JPM really want to expose themselves to RICO? Doubt it. The discovery date is Oct 4. Then it goes to trial. Does Jamie want Epstein like exposure? Is that how he wants to be remembered? Or maybe he just doesn't give a F!
Hey AZ. Many great things could finally be coming this 2024 year. 4 is the angel number.
JPM is hiring many new Wealth Management staff now. They are expecting something. ;)
They know things are happening soon.
Guess you don't know SG is still alive and well and handling this LIBOR group.
https://www.susmangodfrey.com/
Johnlconfer re Libor.
Why not confident? Look, Fdic sued for 400b. So why 400b? Wamu was valued at 300b, that's why. And if the Libor suit is successful, who would be the benefactor? Where would the money go?
So yes the Fdic gets their 10%. The bulk goes to the Wamu estate....escrows! Don't think for a minute that the hedgies aren't intimately involved in this now. SG is the firm handling it but no doubt the hedgies lawyers are involved. And why did they select SG? LOL Pretty obvious huh?!
As hold2 and others also think, an out of court settlement is all but certain. Even Rosen way back when thought Libor would likely pay escrows.
So don't worry john. This should be your most optimistic payment avenue.
Not sure if Libor produces a COOP payout.
Waiting for an answer on that. I have heard that the hedgies are in meetings with the FDIC about a possible deal but no confirmation on that.
Coattails
hold2wm now 100% confident in a Libor settlement. I like his optimism.
We have a good judge this time too. Stars are aligning. For those of you without escrows, too bad about you.
Now let's see the when and how much. Will it be weeks or months..........
We are close to Libor resolution. I dont see how even the most venomous naysayer can deny Libor. Its fact. Incontrovertible.
Lets just hope it is distributed fairly. Remember that 70% goes to hedge funds. We are just along for the ride. When they get paid we do too.
Coattails
Rosen was correct about Libor assumption.
When he said Libor could be the only path for escrow payments he was right in one regard. Libor looks very likely now.
Where he was wrong is that it could be the only source. Very wrong.
Libor could however be very big for us. It will surely be over par.
Lets hope COOP gets it cut too.
Libor 100b = 56b for us according to some calculations. 10b goes to Fdic. Rest goes to to the small banks in the group.
I expecting an out of court settlement any day between now and Apr 12.
We shall see...
Redactions and docs under seal can be there to protect peoples identities and finances. Not sure they are ever compelled to make those items public in a bk case.
A lawyer would be better to respond. I think they want to hide all that forever. The whole case was sneaky. Look at how they did it in the middle of that Thurs night. Evil pricks. Thats why I say I hope they rot in hell.
They have one last chance to right this wrong before they meet their maker.....if they're smart.
The holding company knew the seizure was likely. So much turmoil at that time.
Luckily they had the foresight to stash the assets in time.
The only thing that they missed was the scheduled 4b deposit they put in the bank on 9/6/08. Big mistake. But they are to be commended for securing the assets. Brilliant work.
Too bad there was so much redacted and under seal in the court docs. We may never know what was hidden.
The minerals likely were protected in safe harbor with the other WMI assets.
Are you on bp? This has been discussed there.
Denke was hired to do an inventory, then vanished. Who knows what happened to him.
Oil, gas, gold, silver, coal. All annotated. Over 1T. Maybe much more.
Thus the 800b total.
Then add on DCR, minerals, etc. Yikes.
Ron, I think the bank payment and Libor are two different animals, right?
So the $300B JPM bank payment, if "invisible" there, sits in the R waiting to close and be released to the estate/us. The $400B that FDIC sued for in Libor is a separate piece of the pie.
So many different avenues/buckets.