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Interest rates and home insurance are sky high now which keeps many out of the mortgage market. We need a new administration. Then things will boom.
COOP gets 2.5% of Libor so that will help sp bigtime. Say Wamu estate gets 50b. Thats 1.25b for COOP.
This will be a huge year.
Why don't you just ignore me? I post others BP opinions here because I've been asked by several to do so here. You are just upset that astock will not allow you to rejoin BP as you have tried to. Astock is right on banning you there.
Do I attack you for your nonsensical posts even though you are one of the most useless posters here? No. You never contribute anything of value to the readers. You are useless on this board.
But...I am now putting you on ignore. Welcome to my illustrious list of naysayers.
Hold2wm's latest Libor prediction.
Thanks to him for his continued research into Libor for us.
He thinks Libor will settle for at least $114B and that could be done soon, maybe before Apr14, but at least by EOY.
I would say that if they settle for 114B our escrows could get between 50-80B. BP posters on this think 75 25 to the end of course. That would give Ps 4-6x I'm guessing. I am being conservative.
Also, way back when, Rosen said that escrows only chance to get any money might be from Libor. Well he may have been partially right back then.
My feeling is once Libor settles and those funds are distributed, the receivership can close and the big waterfall can begin. That's what the big boys are waiting for. Did JPM already pay $300B for the bank (to avoid yrs of interest) and those funds are now "invisible" (per bop) until the R closes?
On another note, Judge Buckwald being 79 may relate to many of us older investors who have waited 16 years, and she may want to make this right so we can live out our remaining years with just restitution for the wrongs that were perpetrated against us in the wrongful unjust 5th amendment taking.
Ndt, my plan exactly.
You have esp? I already have a ranch chosen. Need Libor asap!
We are in for scary times people.
LIBOR settlement is near. Start getting your affairs in order just in case of a payout because it could happen when you least expect it.
This is my order:
Since my funds will go into an IRA, immediately I will transfer enough money into my checking account to pay off all debts on day one. Boom, gone!
Then I will line up a financial counselor and Tax advisor asap. I am already starting to look into that.
If the money is substantial which looks likely, it would be good to have an LLC with an obscure name, not your own. Do it now. It's very easy to set up with your state. Then any properties you buy etc can be in the name of your LLC, or trust as well.
In the future the government could take our bank assets, so I'd get a big Liberty safe, bolt it to your floor in the house and load it up with gold and silver. Ammo too. Start hoarding cash. You can only draw out less than $10K at a time or it gets reported by your bank.
Buy hard assets! Houses, vehicles, etc. The gov can take our bank accounts someday but hard assets would be difficult for them to get at.
Have one person you can trust 100% with your life and give them access to what you are doing. Make sure you can trust them because they could wipe you out! Money changes people. Get your beneficiaries in order. Have a list of your accounts and important numbers and passwords etc. Make sure this is available to your trusted person especially when you travel in case something happens to you. While we all think we will live to 100, we just never know....
Take care and be very careful. Make these decisions carefully. Let's hope we get some money and have to deal with these things! Read books like "sudden money".
Never tell anyone of your new found wealth except close family and your trusted person. People will be tripping over your sidewalk trying to get at your money!
Split T, "Some payouts may occur in the next few weeks".
I agree this is possible because jpm will Not want to commence with Libor depositions. No way. That would be suicidal and they may have more staff jumping off buildings. That date is 4/14. So any time between now and then we could see the settlement. Theyd be stupid not to settle. They may be crooks, they may be arrogant, but they are not stupid.
Our brokers have our W9s on file too. So your info will be verified before you will get a distribution. If the W9 needs to be updated they will contact you at that time prior to the distribution.
Everyone should go to their brokerage accounts to be sure their info is correct, address, etc. Also check your beneficiary info. Don't leave your newfound wealth to someone you no longer like! LOL
So why did the UWs spend a ton of money and send a team of lawyers to that hearing if there was no money forthcoming??? They know far more than we do, so that was further confirmation that money will come back. Big money. The FED would love to get 400B pumped into this failing economy so they will push for this Libor settlement to happen. ASAP!
Digit, it sounds like you don't visit here often as this Libor thing has been discussed nonstop.
Apr 14 is the deadline for deposition filings to the Judge Naomi Buckwald's court. That's big. Very big. The discovery must be done by Oct 4. It's complicated. JPM is on the hot seat now with the depositions. Jamie needs to worry that he is not implicated. He could be charged criminally. That's why it is likely this wraps asap or he is in trouble. That's why I think Dimon has been sucking up to Trump, because he sees him as being the next pres and wants to try to get back on his good side.
the judge seems tough and at 79 yrs of age i doubt she is intimidated by Dimon or anyone else.
The WAMU/WMI estate gets between 50-90% of the settlement depending on who you talk to. The FDIC sued on our behalf along with ~20 other small banks for $400B. So if JPM BOA settle for $100B, we would get anywhere from 50-90B. I'm guessing the low end. But 50B is a lot. The BP people think everything is 75 25 which would make Ps worth 5K and Qs around 11 bucks if they settle for 100B and we get 50B.
So of course this is speculation. Nobody knows exactly what will happen. We can just make educated guesses and hope for the best.
"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.