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JPM has to be paid 10 days after settlement:seems to me more like August 10th.
"also, if $15B-$25B was "off balance" for retained interests, why didn't WMI (or really WMB) just sell or trade such to stave off the OTS seizure?
...WHY?" :Is it possible someone got a call that this was a matter of National security and then you have to do what "They" tell you to do.Remember JPM was a very sick bank at the time with a very low Tier 1 capitalbase.
Friday is the start of the endgame:good or bad,hero or zero.We will know soon now.
One thing giving me hope is at the FDIC website a year ago we could see at the bottom of the page that is was expected there would be nothing left for equity and a couple of months ago that sentence was removed and isn't there anymore.Why remove such an importand sentence??
Don't order your Ferrari yet,friday may be the start of the endgame where in the end we get zero and everything what was left is eaten up by FDIC and our representatives or is suddeny gone,missing.
It is not because JPM is raising that kind of money that they want it to pa
Did Willingham buy 83K shares at $1.20 a week ago?
Doesn't mean they will come back.
He has stated numerous times nothing of that 300B will come back.
at the 2018 SHM Gallagher will not be around to ask him where our aquisition is.Eugene also left b4 we could ask him what went wrong with with our aquisition.
If WMIH is looking for a new BOD guy,look no further I'm your man.Doing nothing and getting nice money for it:I'm your guy.
1.10 day before SHM,I guess with no news(except the usual more free shares for the board)we break below $1 the next days.
Trusts getting 11 cents on the dollar,JPM is r##ing them like they did with us.And the guy who had to look if the settlement was reasonable and honest is telling us he got very little info from JPM so how can he make a good and honest judgement??And for us??It doesn't look good at all.
Been reading a lot from the text of the proposed settlement and I didn't see one line about money coming to us.I have a bad feeling about this . I think 75/25 or pref capped and the rest goes to commons won't matter as I see that most the trusts belong to JPM.
I don't see a problem in him telling friends to load up WMIH and are they forbidden from buying into WMIH because their ties with someone?I don't see the problem.
This 75/25 discussion is ridiculois.I owned only P's and no Q's but I can follow Az in his reasoning regarding Pref versus Common's.And if it turns out Az was right I will still be very happy with my Pref's getting face value + intrest for 9 or 10 years.But until FDIC says there is 20 or 50 or 80B left for distribution??But until then we have 25/75 of nothing,zero.Hopefully we can move ahead after 6/16.
For now we don't have to worry about the 25/75;first we have to seen some cash and then we can talk or fight about who gets what.But it sure would be nice to see some real money after a wait of 9 years.
Regarding Pref's capped or uncapped:TPS didn' agree with 70%-30% split between pref -commons.But after some mediation they agreed tot a split of 75-25%.So with the raise from 70 to 75% they agreed to the plan.So why would they do that when -in the end- they get the same amount of money as when it was 70-30%??Only possible reason would be they know only a small amount of money is coming to equity or they got wrong info at the mediation.
I wonder if it is possible Piers don't get paid full face and then what happens in 2018?
"The Trust and counsel to certain employee claimants have agreed to amend existing scheduling orders to provide
that all outstanding discovery deadlines would be adjourned until July 2017, or later, with the “change in control”
hearing to be held in February 2018. As of the date hereof, the Trust has responded to 23 sets of requests for
production of documents and 14 sets of interrogatories, has reviewed over 850,000 documents from approximately
120 custodians, and has produced more than 84,000 documents" Seems like this is a big part of the billing by A&M en not controlling all the hidden billions.
Seems like more milking going on;another 4.6M set aside.
500K is Chump change for those boys;remember Rosen billed us $1100 an hour so for guys like him 500M is money but 500K is chump change
Hundreds of millions shares traded;that happens with most ch11 stocks:people buy in at.06 for excample and then hope to sell at .11 or .25.I personally did it with Wamu with commons.Did I have insiderinfo?Not at all just trading and hoping to make some money.And also:for every buy there was a sell and the stock didn't go up when insiders were loading bigtime??Not at all:just trading by big and small boys.If it wasn't for MW;commons would have gotten nothing.Now they get 25% of what may be coming.And if only 2B is coming they get 500Million although Pref did not get their full share when APR would have been used.You can not have it both ways.
APR was changed to make sure commons got a piece of the cake.And for Preferreds to accept this,the limit of $1000 for P's was also lifted.Seems to me some people want to rewrite history here.But main question:is there ever gonna return 10 or 15B to the estate?? the discussion preferreds capped or not is of zero importance unless more than 15B returns.And I still don't see that happening although I hope it.
TPS didn't get 5% more for commons;but instead they raised the piece for preferds from 70% to 75%.
Employee claims hearing set for feb 26 2018;ssems like we have to wait another year to see if any money comes our direction.
We'll get an 8K telling us how much free shares our BOD will get the coming months for all the great work they do.I wonder what they do besides milking us??
Anyone heard of the old biker after this big dip and the biggest shareholder dumping a big part of his shares?Is WMIH still the place to be for getting rich or should we start shorting to get rich?A lot of questions but no answers.I wonder when BOD are gonna give themselves a another nice dividend for doing nothing?
I wonder if it has anything to do with the stealing of a 300B company for 1.9B but JPM is making new alltime highs.
" NOLs @ 15%". Only thing that matters.
I'm still holding but is that the right decision with a BOD who is only looking to make very much money and doing nothing?I have no cristal ball.
PPS decline comes from Trump who is gonna lower state tax for companies to 15%,so Nol's will be worth a lot less than now.Tanking completely normal.
Trump is gonna lower tax for companies to 15% so nothing strange here when we trade at 150 to 1.70.The Nols are worth a lot less when we have a tax rate of 15%.
Large,do not forget this regarding the P&A agreement:ATTENTION: The reference to "Schedule 3.1a" in Article III, Paragraph 3.1, (page 9) of the
WAMU P&A Agreement is a scrivener's error—there is no Schedule 3.1a
The preferred shares have no cap:they Always get 75% of what comes to the estate even if that would be more than 10B.Not that I think we get more than 100M but we never know.
In latest 10Q for WMIH there is no more talk of beginning to dissolve WMIIC but instead eliminated upon consolidation.So it is done but nothing came to escrows and FDIC didn't bring out a filing 5 or 50B is coming our way.To me this doesn't look good at all.
We were told to follow the big guys.Now the big guys are selling .Should we now again follow the big guys and sell??
We were told WMIH was the place to be for the big money and now we're going down bigtime on strong volume?
Ok now we wait for nov 9th to get our live changing event but I wouldn't buy the Ferrari yet.At least I hope we get a small M or A b4 the end of the year.
I guesss consolidation of nothing is nothing?And if there was something ;then were is the money from the consolidation?When we are the owners of WMIIC and it is now eliminated upon consolidation,then were are proceeds from this.And when proceeds are material they can not keep that information hidden for us.