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"was seized and sold
to JP Morgan Chase.", but never paid for!
Ohhhh, its coming.
Not much happening as we wait for Libor to wrap up. Could be any time from now till eoy.
I dont see it being much longer. Depositions to be filed by 4/14. Is Dimon stupid enough to let this go to trial? Doubt it.
Coattails
91-1653726
Ron may be right, as the commons normally get any bk settlement money.
Bop, hold2wm, dmdmd, etc all feel strongly that it will be 75 25 to the end.
I see both sides and am fine either way.
Its hard to fathom the hedgies allowing commons to the party and then giving them the bulk of the money.
But 2.5 par would be sweet so lets see what happens.
It will be interesting to see how the Libor settlement gets divided. That will tell the story for the rest of the money.
Dimon's bank is the government's bank.
He will slither out of trouble like the snake that he is.
But, Libor will require payment regardless. 100b is nothing for jpm to get out of this mess. I say at least 100b is a 100% certainty.
The banana republic of america.
Good post here bankjob.
No doubt Sheila and Jamie boy thought they had WMI included in their Thursday night heist. Such scum.
So for those who dont understand, still, the WMI assets were not included in the deal. Thats where our big money is. The numbers are staggering.
Libor should be settled soon. Jamie knows the heat is on. I bet there are behind the scenes negotiations now with the hedgies as to what settlement will be acceptable to them. I expect 100b.
The Fdic will not get the 400b they sued for.
The mineral rights are astronomical. Denke was right.
Once the assets are released the minerals will be uncovered. Gas, oil, coal, gold, silver, it's all still there. $800B could be a gross underestimate of asset valuation. Bop thinks a P could eventually be worth $3MM ea. It's possible! This will take years to sort out. For now we get Libor up next. JPM must pay for the bank, and may have already done so if bop is correct and it is deemed "invisible" in the FDICR. This could be a very big year for us escrow holders and COOP. I also believe that when escrows are paid, many will invest into COOP/WMIH which will cause the stock to soar.
Coattails
goodie, JPM cannot get out of this mess and the hedge funds will see to it. Is Bonderman going to say, Oh well, so I lost $4B plus interest for 16 years to JPM, no big deal.
Not bloody likely! This is a huge conundrum for Jamie. We shall see how Libor shakes out. Then the real chit will hit the fan! Big money. We 8,500 retailer peons only get 30% of the bounty. Hedgies get 70%. Anyone that really believes they will just walk away needs to get their head examined.
Coattails
The bank valuation was $300B. That is likely what is held as "invisible" in the receivership and will be payment in full by JPM. Again for the umpteenth time, the $1.88B paid by JPM was an administrative fee. So please, enough of the ridiculous notion that it was payment in full for the bank!
Now, WMI assets totaled at least $400B. It is more likely $1T if you take into account all assets and minerals.
So bop and her hedgie source are likely right that the total coming back is $800B and maybe more.
Key dates now are 4/14 and 10/4. The key question now is, Jamie, do you feel lucky? Well do ya, punk?! Your robbery of WAMU because they wouldn't sell to you for $8 per share is coming to an end. LIBOR is just the start.
To the naysayers.
Too bad about you!
Too bad you dont own escrows.
Too bad you didnt release.
Too bad you waste your time on this negativity 24 7.
Too bad you only get paid a penny per post.
And oh yeah
Too bad about you.
That 30b he found in 2012 must be returned to WMI/us. Plus interest. He screwed up not returning it back when he found it, but Walrath never compelled him to do so.
Bop believes jpm has paid in full and that the money is in the FDICR, but it is currently "invisible". It will see daylight once Libor concludes...2025 at the latest but I agree with hold2wms assessment that it will be settled this year......likely before Rico kicks in. Personally Id prefer to see Dimon in an orange jumpsuit for putting us all through 16 yrs of hell.
Talk on BP about the 30b Dimon "found".
He might want to return it to the WMI estate? We shall see. I wouldnt hold my breath. He will deal with his theft at the pearly gates....wouldnt want to be him.
JPM to rebuild Ukraine using WMI asset money?
$1T...wonder how much of this new funding effort may be from our money?
And did they do this "humanitarian fund" to get preferential treatment from the administration on our case, Libor, etc.?
I wonder. And Blackrock involvement when they are a large COOP investor?
Hmmm. I would think the Fdic still would want to proceed with Libor to get their cut. Unless the government says back off now!
https://eraoflight.com/2023/07/25/blackrock-set-to-rake-in-1-trillion-rebuilding-the-destruction-they-financed-in-ukraine/
Can you pm it? I dont think thats the one. She talked about her source in this one.
Bob to be honest I had my doubts until Libor came onto the scene.
If we get the settlement I think we now will, we will be north of par. Once that litigation concludes I think many things could come, like bank payment, asset money retained earnings, etc. And if minerals happen escrow holders could buy their own towns.
But nothing is definite till we see it in our accounts. Banana republic
Xoom,Cool thanks. Raggs, plisk, and the boiler room boys will bash it as a lie. But its not.
Also, what happened to bops post when she talked about her family knowing of her integrity, and where she spoke of her source?
That post vanished?
Did you see it when it was still up xoom?
Good things come to those who wait.
Zoom I agree.
Maybe you can relay this to bp to calm down the naysayers. I am unable to log in there for some reason. Tech probs maybe.
Our escrow positions are alive and well.....
DarkB4, the proof they have our escrow info is undeniable.
Last year, long after the escrow markers were deleted, I received mail regarding the bondholders Libor settlement.
I called the number and explained to them that I did not own the bonds, just P and Q escrows. They said to disregard the letter because it was just a glitch that my information from the escrow position list was mistakenly put on the bondholders list as well, and that my information remains on the Wamu escrow list.
So there you have it. We are on the escrow list even though the markers were deleted.
Of course. The escrow positions have not been deleted but the markers were. I know this is confusing. Wwhathe explained it VERY well, so I suggest that anyone who is confused re-read his last posts on this topic.
Also, I stated clearly that we ARE the estate! So when Libor settles the funds for WAMU go back to us! Who else would that go to? LOL
As hold2wm clearly stated on bp, the Libor settlement will happen any time from now till EOY, but he feels soon as do I.
Also, as the COOP filing stated, 1.1T will be in the coffers soon. So where does everyone think that will come from? LOL. Yep.
Bottom line: COOP is going to do very well for everyone, and escrow position holders will be very happy this year.
On another note, GO NINERS. Please make TayTay and her 87th boyfriend go away. Please!
I understand the angst of some. 16 yrs sucks.
But we are close to Libor, among other things. I wish they had bp access. They need to be better informed.
LG, so if Libor is settled for 200b and 100b goes to the wamu estate, who do these imbeciles think "the estate" is? LOL
Maybe they should call Bonderman and ask him...and also ask him about their deleted markers.
LOLOL
Why should I call? I know the markers were deleted. Isnt that what I said? Duh.
Can we stop with the escrow poof nonsense???
This has been explained a million times already!
Yes the escrow markers are gone! Done!
What remains are the escrow POSITIONS. Thats all that matters.
Libor will be settled soon, likely by summer. That will be the first distribution to escrows, with much more to follow.
Sorry unreleasers. It is what it is.
Hmmmm. Wamu assets?
COOP (WMIH) will be a behemoth in the mortgage business.
Congrats to all longs. Damn we all wish we had bought more huh???
Two important bp tidbits.
Hold2wm is back. Glad hes ok because he is a workhorse on the Libor info.
Also I think bop intimated that her source was hedge fund related. Thats great news if true because the hedgies are far more connected than us. I dont think she would make that comment if not true.
Anyone else with bp access see that comment?
Muff, of course anything of importance will be relayed between the boards.
For now, not much happening as we all wait for Libor resolution.
Lets hope justice prevails for escrows and the employees who all got fleeced by those crooks.
Correct. The 1.8b paid by jpm was noted as an "administrative fee", a deposit. How they got away this long without payment is shocking.
They will pay, plus interest.
LIBOR depositions are ongoing and must be submitted by 4/14. So the question is, will Jamie boy allow his troops to be grilled with the possibility of criminal charges for rigging derivatives? I doubt it. If he does he's nuts, because one could blow the whistle and take down his entire empire. It makes sense this will be settled soon.
$100B is nothing for JPM to avoid a major mess. The FDIC sued on behalf of the group for $400B. Would they take $100B to settle? Maybe. $200B makes more sense, meeting JPM and BOA halfway.
goodie and muff. Yes, I agree that reposting things here from BP would likely not be appreciated by both ends.
What we can do is post summaries and ideas without copying and pasting over actual posts. We can summarize ideas from there and add our insights and ideas to what they believe will happen. It's too bad that posters like bop, hold2, dmdmd, and others will now only post over there due to what they perceive to be unfettered troll activity here. They don't need the grief.
I try to respect both boards the best i can, but the trolls do wear on me too! There are also trolls on bp, but they know their places and are largely just ignored.
Commons will get cash most likely. Ps get new preferreds. But who knows?
I say something happens soon. The hedgies are pissed no doubt.
I believe it is against the ihub tos. Correct?
Distro do you have bp access?
Some interesting dialogue now about this. I still think it could take some time for Libor but JPM must tread very carefully now. I don't think this judge is intimidated by who he is. He better be careful since this could quickly turn into criminality.
If the smart board is right and 86B is 75 25....
That's 8.6 par or 8600 per P and about $16 per Q. Nice. Hope Dr A was correct too. Smart guy, the only expert to ever assess the Wamu BK that we know of.
I dont care if you believe me or not.
I will not copy and paste from bp. No offense but the posters there are far better versed than the trolls here.
Nothing is certain but death and taxes.
Take your info and dd from lodas and become a wise investor. LOLOL
Libor payout of 86B lines up with Dr A's forensic amount from 15 yrs ago. Uncanny if the 86B prediction on bp is accurate.
Big money coming?
Or if they buy WMI assets by issuing new preferreds for our Ps. Who knows??