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I have brought up JPM ownership of these vast amounts of shares in the past and most were clueless about it. Weird.
in essence Jamie and his daddy at GS will just be paying most of it right back to themselves.
Pretty sweet deal for them huh?
So the FDIC is actively try to resolve matters now.
There are likely many such actions underway. This isn't the only one!
Lots of things starting to happen. Billions and billions to come.
The FDIC holds the R money as long as possible. They no doubt have safe government backed investment vehicles that they place the R money into that pays considerable interest to THEM. So they do very well with these sorts of transactions and thus will hold R money for as long as they can get away with. Their investment proceeds go into their coffers and then when they need to release the R funds they pay a 1-2% pittance back in interest and make a killing on our money. Its a corrupt racket folks. Thats why the delay. Typical for R money being held.
If Great Western is an asset of WMIIC then this deal with HFwill be the beginning of an avalanche of activity.
this is a very big if. The deal with HF closes May 13 so we will know soon. I say this is a long ahot since it appears GW was sold in 2008 but no one knows for sure at this point.
May 13 closing date of Great Western deal. AZ?
Question is what does this have to do with WMI and is it an asset of WMIIC?
That's the $64B question.
And a question that will be ready for, and will evade skillfully. They will not say anything substantive because they can't, yet.
A bank in AU owns it now TTBOMK.
Mr Simpson and Ilene, thank you.
Appreciate your efforts. Great news!
Maybe they'll have something good to tell you Ilene. Youre the best!
LG, I doubt this is "it".
If something big like this had anything to do with us the stock would be soaring now.
Something may be happening but doubt it's this deal.
Looks like another false rumor to me.
M&A Great Western and HF Financial on May 10. GW may be an asset of our LT. Interesting . Anyone hear about this?. ;)
If there is NOT a positive development before the meeting I think Mike is expecting an angry mob with pitchforks at the meeting. He is aware of the angst and frustration among the retailers and I'm sure he is hearing similar grumblings from the Teppers and hedgies. >>>Time to crap or get off the pot. It's reached a head.<<<
Yep, tis time.
AZ it's obvious what they are doing. It's all about the BODs share grants and getting as many as possible before they resolve this. They will do this as long as they can, right up to 2018 if possible.
June 1 = WMI's Waterloo.
All hell will break loose as investors have had enough of the annual milking of the estate for option grants by a greedy BOD padding their portfolios. Their party is over.
It finally reached the breaking point. We are sick of holding our breath, Mike. Get it?
You ARE kidding right catz!!!
Too funny. There will be many contingency ambulance chasers that will jump on the class action banwagon. Thats how these things happen when there are this many disgruntled shareholders fed up with a BOD. Havent you ever been involved in one? Ive been in several and the lawyers make all the money and we get pennies.
I hope this doesnt start to happen but the progression of events makes it look very likely unless this board gets off its ass and gets something done. SOON!
Petition? Next step will be class actions, lots of them.
If WMI thinks this the petition is the last of this they are wrong.
Once the class actions start there will be an avalanche of them. Then they'll have their hands full.
Hey BOD. Time to make a move before its too late.
Shareholder mutiny on June 1?
If there is not a positive development prior to the meeting I expect an uprising at the meeting as many appear to finally have had enough. 4+ years of waiting and lack of communications,a botched Oct deal that cost shareholders $10MM, and a board that appears to be flailing in the wind as they soak up more and more share options, has brought the shareholders to the point that they simply have had enough. this could get very ugly.
Now, IMO there will be a major development soon to avoid all that. Those recent big volume days showed something is in the wind. But if this is not the case and things don't start to move I would not want to be in Mikey's shoes on June 1.
Tepper has 850,000 Ps. Couch change?
I dont know about how rich you are but to me thats a lot of couch change.
Tepper and the boys have the best lawyers and accountants working on this, trust me. They can pay millions to get their billions. Enjoy the coattail ride.
Announcement Monday possible.
If there is nothing announced Monday certainly something is happening and we will see a PR as we approach June 1 meeting.
FDIC cannot stonewall this much longer.
The numbers are staggering and while they'd love to see this go away so they can slowly dissolve the billions into other avenues, it will not happen. The big boys will never let it happen, and the FDIC knows that. JPM and FDIC must come clean.
They must release info soon. Government corruption will not win this battle.
As AZ says. We all wait together.
The big boys who have billions coming are doing all they can behind the scenes with their lawyers accountants and tax people. We are lucky to be part of this alliance. They in essence work for us too and we benefit at no cost to us.
Yes we all wait together. But not too much longer imo.
Down a few cents is a sell off??
LOL come on people. Down a few cents on big volume is no "sell off". Where do these people come from?
Something IS happening. Period.
Yes, down again a few pennies but love this volume.
Amazing that this volume isn't causing the sp to plummet. Someone knows something. Very encouraged.
I think the deal that fell through in october was a major blow to the board. More than we realize. But we are on the verge of some major development now. Cross your fingera.
They follow these boards and already knew people were upset. The petition is nothing of real importance to them. They are more upset than we are that this has not resolved. You can thank this administration and FDIC for gross incompetence.
254 out of 8500 investors is symbolic but hardly a mandate. It should still get attention but have little real impact.
Sellers are confused.
They think a share distribution to escrow holders will be dilutive and create a sp drop...
.....and while that could happen most likely there will be another announcement to prop up the sp. Possible MA. Just my thoughts. I expect something big of positive nature. Relax.
We will know more tomorrow or monday IMO.
Investing is not for everyone.
Those who are torn apart by the ups and downs of stock investing should have their money in the bank. They cant handle the uncertainties of these types of investments particularly in a bankrupt company!!!
Frowns will turn to smiles soon for longs.
As they say, watch and learn.
dmceng. The stock market is booming so there are deals to be had. Lots of M&A activity. We are fine. But you are right. After elections the economy will be booming and $6B in NOLs will make the target a goldmine of profits.
Good things on the way IMO. our agony is coming to an end.
To dmceng and diamond. Shares most likely will be distributed at the next LT event. Either May 1 or Aug 1.
the way was paved for distribution last year and went smoothly. Be sure your account info is correct now.
dmceng. Biggest prob now is the economy and i see only one candidate that can fix it. Glad to see there are a few of us here. Id think any investor would want a good economy!
Something big is ready to be announced.
The volume the last two days confirms it, as I mentioned yesterday about today's importance in a volume follow through. Expect a major announcement any time now.
Hold on to your hats people.
If I am wrong I'll eat my Trump hat.
The selling here is escrow based.
>>Retailers are afraid that there may be a distribution to escrow holders on May 1 that will create some selling pressure on profit taking, thus the selling we are now seeing.<< ****This is dumb IMO. I expect that IF there is a distribution, and I said IF, that there will be additional news to bolster the share price. The BOD may be incompetent but they are not stupid.
Lets see what happens. something may finally be coming to a head.
Expect the unexpected.
Don't get your hopes up too high though. They've crushed us many times before. Tomorrow will be a big day either way to show us some direction for May 1 and beyond.
Large Green. Things are finally happening.
Been a long tough road for us all. Maybe, just maybe, we are coming to a turning point in this saga.
Yes, I do love my escrows more and more. Something's on the move, or so it seems. GLTA
Late day volume>possible escrow distribution?[color=red][/color]
When I saw the filing today indicating a possible distribution to escrow holders, I was puzzled that there wasn't volume coming from sellers worried that a distribution would cause a price drop. Then Bam! In came the volume.
I would say there is a chance there could be some big news any day, and certainly by the SH meeting. Volume is always telling. Let's hope this is an indication of good news for all. Smart money always knows before us!
FDIC-R is still active.
Not sure why there is cofusion about this fact.
Tepper and the boys are also waiting. Glad to be riding their coattails. They pay for the big accountants and lawyers and we sit back and get all that for free. Not a bad deal. Relax and enjoy the ride kids.
Yep, we all wait together.
I expect some news any day
This is not just a wild ass guess, but based on a flurry of interesting activity and indicators as of late. What it will be, who knows? But after a long quiet period things appear to be starting to unfold. Any day things could get very interesting, but certainly by the 6/1 meeting.
Let's see what happens!