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So, Yes the WMB Bonds Are Still Unpaid.
The current major issue of the balance sheet being the Notes.
Please remember that the Notes are Covered Notes, and backed by ~$26 Billion in ABS securitizes.
So yes what the FDIC said is true but not correct because the FDIC hasn’t released the funds due to LIBOR, and Government bureaucracies.
The WMB Notes are self sufficient in that the the claim is covered due to overfunding by design.
Same for Preferred Funding.
That is the way WaMu operated.
Smart Banks operate in low risk exposure. WaMu was not involved/exposed in the Derivative Market like JPM was.
Big Picture;
All the Balance Sheet means is that JPM Payment hasn’t made it from FDIC Corporate to FDIC Receive.
WMI sued for?
The FDIC responses?
We have the numbers!
Ron
Yes, That is Correct.
$187 / share.
:) Class 22 Property. Not All of It.
And More. WIMIC, WMI Non-Debtor Subs.
According to the FDIC; WMB securitized $2.0 Trillion in RMBS of which $500 Billion was sold to government agencies like F&F.
WMI/WMB was required to hold 15% of the offerings that WMI/WMB sold into the market.
Sorry, many hate or can’t do math.
Class 22 Property.
The Numbers;
$1,500 Billion times 15% is $225 Billion minimum!
I track the numbers, not meaningless posts.
Ok, prove me wrong,
;)
Ron
I still stand behind my numbers.
As stated on the MB.
FDIC/LIBOR is Basically Completed..
• That is the last hurdle for WMB/FDIC closure. From the FDIC’s Own Statement; “$299 Billion for WMB and it’s assets”. Their response to WMI suing for $307.02 Billion after ~$8 Billion returned to the WMI estate.
> Property of the commons.
• Operating WMI Non-Debtor Subs worth ~$35 Billion.
> Property of the commons.
• ABS/RMBS held in “Safe Harbor”.
Preferred Funding belongs to Class 19. Other assets belongs to Class 22.
The rest belongs to Class 22.
> It’s all about property rights.
• Retained Earnings and accumulation of interest is distributed 75/25% between Class 19 and Class 22.
> RE/DCR better than satisfies Class 19’s claims against the Estate.
Class 19 doesn’t get an UNJUST REWARD at Class 22’s expense!
CLASS 19; What is wrong with +~4.6X over Face????
Think about it?
You only get your property rights.
Yes the time factor has been hideous.
I’m very confident in my legal process/math/numbers,
Ron
FDIC/LIBOR is Basically Completed..
• That is the last hurdle for WMB/FDIC closure. From the FDIC’s Own Statement; “$299 Billion for WMB and it’s assets”. Their response to WMI suing for $306.02 Billion after ~$8 Billion returned to the WMI estate.
> Property of the commons.
• Operating WMI Non-Debtor Subs worth ~$35 Billion.
> Property of the commons.
• ABS/RMBS held in “Safe Harbor”.
Preferred Funding belongs to Class 19. Other assets belongs to Class 22.
The rest belongs to Class 22.
> It’s all about property rights.
• Retained Earnings and accumulation of interest is distributed 75/25% between Class 19 and Class 22.
> RE/DCR better than satisfies Class 19’s claims against the Estate.
Class 19 doesn’t get an unjust reward at Class 22’s expense!
Think about it?
You only get your property rights.
Yes the time factor has been hideous.
I’m very confident in my legal process/math/numbers,
Ron
Vod, You Have Had to much Vodka.
Please say hi to your brother Scott.
The evidence hasn’t changed, because the assets are still there.
WMIH is Private.
Class 19 will receive ~2.5X as a base.
Series R (P’s) get another ~2.1X Performance Payment.
The 75/25% ended with and secured by the Retained Earnings held in Treasury Notes satisfied Class 19’s claim against the Estate.
APR was removed because Class 19 claims were satisfied, and Class 22 took total control of the WMI Estate.
Ron
Many Wands Made Things Disappear.
Many Wands can make things reappear!
SPAC
WMIH is currently Private.
Ron
SPAC -> NewWMI.
“Paladin Acquisitions Corp is a blank check company. A blank check company, also known as a special purpose acquisition company (SPAC), is a type of investment vehicle that is created with the purpose of acquiring an existing company or merging with a privately held company. The main objective of a blank check company is to raise capital through an initial public offering (IPO) and then use that capital to acquire or merge with another company. This can provide a quicker and easier way for a private company to become publicly traded.”
Currently WMIH is private, and held in a Trust.
As new Publicly Traded Company.
That would not be COOP.
Paladin has already completed the IPO.
About the 206 phone number, 206 is the area code for Seattle. CS just carried over his old phone number.
No big deal!
Ron
“Rarified Realm”, LG Insert Link Here.
Hint; JPM.
Question to all; Who is the ECO at Wells Fargo?
Hint; Project West.
The FED is very connected.
Ron
That’s Only True For the Plan 7 LT.
To pay the Creditors.
Completed. DONE.
Class 19 is also a Creditor in Plan 7 to Class 22.
Class 22 greatly rewarded Class 19 with a big bonus of about two times their ‘not going to happen’ accumulation of past dividends.
Now add performance!!!
AAOC Plan 6 hid the assets.
EC took control of the LT.
PDF150!
Better, PDF ~180+
Hint;
Can a Liquidating Trust have multiple clauses?
Clause Plan 6.
Clause Plan 7.
Yes!
It’s all documented,
Ron
LG, I’m Right!
Class 19 is guaranteed greatly more than 2.1X on their investment by the Equity Community representing class 22 from the Retained Earnings.
Series R is targeted for 4.6X.
What’s your problem?
The crazy $63,000 is insanity for a P?
Unjust Rewards.
If true, All of Class 22 would be be able to sue the Equity Community and Others.
Ron
Yes, WMI is a Holdings Company!
Not a Bank Holding Company!
That is why SB had no authority to seize WMB.
Reconciliation is coming.
Ron
It’s All About the Numbers.
The accounting is completed/completing.
Yes The FDIC needed to sit on the ABS Trusts until completion of the Receivership as you said.
Plus many of the ABS are LIBOR based.
I’m just presenting the historical numbers;
From the FDIC: “WMB securitized Two Trillion in RMBS of which $500 Billion was sold to government agencies (F&F). “
WMI was required to own a minimum of 15% of the offerings.
The Commons Own The WMI Estate.
75/25% stopped with the Retained Earnings gaining interest in Treasury Notes.
Ron
FDIC-LIBOR Closing/Closed.
The FDIC can’t let go of funds for “in the Money” Receiverships like WaMu until LIBOR accounting is finalized for the reasons you stated.
How would the FDIC clawback funds from retail investors? :)
Anyone have any LIBOR updates?
Remember; WMI sued the FDIC for $307.02 Billion.
The FDIC’s response; $298 Billion for WMB and it’s Assets, after ~$8 Billion returned back to the WMI Estate.
Ron
The PIER’s
And we’re y paying AG’s bills?
Yes it Matters.
AG’s goal was to disrupt the implementation of the Plan.
Her paid actions cost us money and time, if successful JPM through AG would have thrown the BK into Litigation Morass.
So?
Who was paying the bills???
Ron
So, As I Said.
AG was being PAID!
Well?
Who was paying the bills?
You left that part out!
WELL?!?!?
Ron
How Was AG Making Rent Payments?
Who was paying AG’s rent if AG was litigating against UW for almost two years?
Did she have a day job?
The documents were too massive and researched and typed for one person even if she had all day.
AG had professional help.
Ron
Projection? BBob?
I learned long ago not trust AG.
She was never Equities friend.
AG has a paid agenda.
JPM sponsorship.
Ron
Other Parties Were Given The Same Extension.
So what!!!
AG is a JPM hack.
Ron
AG Was Disrupting Plan 7’s Implantation.
The Underwriter’s were just their interest in Plan 7.
AG. Whole legal thesis was in error.
The Court let her be heard so that she would go away.
Personally I don’t believe AG could have funded without $ help.
JPM?
Ron
BBob, You Only Know About the Treasury Notes;
Because I told you.
No one other than me has discussed this topic.
And NO I Don’t Agree with you!
Ron
Class 19’s Claim is Satisfied.
Class 19 claim is being paid interest and safe.
The Court is happy with the Plan’s method of how EC satisfied Class 19’s claim.
Class 22 took total control of The WMI Estate with Plan 7.
Ron
The Treasury Notes are Now Eleven Years Old.
If the Notes are ten Year Notes, then the Notes are mature/maturing.
Therefore I’m expecting to see/hear resolution and distributions regarding the Notes very soon.
Ron
READ BBob READ!
The Equity Community was Discussing the ~$25B.
December 2011, EC requests control the Plan 6 Liquidating Trust(PDF 150), request was granted.
...
... THJMFW points out that Class 19 has a claim against the Estate.
... how will I know that the money is safe?
EC response through (BR); BR tells the Court that the money was put into Treasury Notes.
The RE/DCR of $20.7 Billion came from the 363 Sales of $25 Billion that EC had been discussing in December.
The February MOR told us how.
75/25% had not kicked in yet.
Class 19’s claim is satisfied, and the Commons Own The WMI Estate.
We have no greater detail because because they are not required too.
Only required to tell the Court how all claims are to be satisfied.
Chad Smith is still around.
Ron
Class 22 is the Owner The WMI Estate.
Class 19’s Claims were satisfied before the implementation of the Plan.
Therefore; Only the Commons Own The WMI Estate. All the assets at BK closure. Ownership Change, or not.
“There may have been an Ownership Change”.
Ron
PDF 150 of the Transcript.
I have posted the link many times. You must not have been reading.
The Judge granted control of the Liquidating Trusts to the Equity Committee later in the Hearing.
December 2011.
Ron
BBob, It’s The Other Way Around!
Because Class 22 set up the guaranty that Class 19 would be paid better than full.
Now that means that APR can be removed, Class 22 is free to receive any of their distributions or property.
Class 22 is rewarding Class 19 much more than lost back Dividend Distributions.
At 2.5X .
Series R; $1,000 + $1,500 = $2,500
Old Dividend; $76 * 14 = $1,064
75/25% is NOT GLOBAL. But limited to the RE/DCR and the initial stock distribution.
Global 75% of The WMI Enterprise would be an “Unjust Reward”, and a great loss for the true Owners of The WMI Estate.
Ron
SORRY, I’M RIGHT!! EOM.
Class 22 Satisfied Class 19’s Claims.
The claim was satisfied with the RE/DCR.
Class 22 contributed 75% of the RE/DCR to Class 19.
Class 19’s is satisfied. That is why APR was removed.
Ron
No, That’s Not Why APR Was Removed.
APR was removed because the Equity Community proved that Class 19 would be satisfied from the Treasury Notes from the February MOR RE/DCR.
“Distributions can move freely to other classes”.
Again; EC proved to the Court that Class 19 was to be greatly satisfied.
What is wrong with 4.6X?,
Ron
TZ; Thanks Back. EOM.
TZ, What Are You Saying?
Please elaborate.
IMO. All Classes Win. Win their right to what they own.
It’s all very simple.
You get what you own.
Ron
It’s NO “MYTHICAL X VALUE “.
It’s DEFINED;
Class 19 will receive 75 percent of the Retained Earnings which by now should be around $25 Billion.
That’s much greater than the would-be interest accumulation that’s not happening. Non-accumulating.
Plus the performance payments.
Do the MATH.
You are already being greatly compensated for your interest.
• ~4.6X by my MATH.
Getting Greedy?
The COMMONS did not Surender the ESTATE to Class 19 and then only receiving 25 percent of their property???
For the Record;
I own both UQ and PQ.
I have done the Math for Global 75/25% and as I present; 75/25% is limited to the RE/DCR, UQ receives the WMI Estate.
My perception on outcomes is not biased because My reward from ether outcome differs very little.
Class 19 property rights are from Preferred Funding, and The Estate (The Commons holders) are gifting 75% of RE/DCR to compensate for lost dividends.
More would be “Unjustified Rewards”.
The Commons Own The Estate!
Ron
Goodie, That’s Not True.
That is just message board hipe by P holders.
The UW’ers of Series R protected Plan 7 from further litigation or destruction by protecting themselves against the coffee person. The UW was just protecting what they owned as required as Underwriters.
Relax, the Equity Classes Won!
The Treasury Notes should be mature at anytime now.
Ron
The Equity Community Enticed The TPS;
The 70/30% would change to 75/25% if the TPS agreed to vote for Plan 7.
Plus for ND9 and all others;
75% of what?
What was on the table at that time?
The EC told us during their presentation to the Court that became The February MOR that told us the number.
$20.7 Billion placed in Treasury Notes.
Now ~$25 Billion.
For the P’s by example;
• ~2.5X Face Value which is better than the accumulation of past Dividends.
• Accumulation of EOY Performance Distributions. My math, another ~2.1X.
Yes the Preferred Funding Trusts are basically completed.
Ron
I Never Said That BBob.
The K’s will receive their percentage due from the 75% allocated to the Class 19 holders from the RE/DCR of around +$25 Billion, anything due from Preferred Funding, and interest adjustments related to LIBOR.
>>The K’s are NOT being kick to the curb.<<
By Example;
P’s May see ^^+4.6 X said Face Value.
___________ End Class 19. ________
75/25% is NOT Global.
The Common’s (Class 22) receive;
• payment for WMB
• Value from WMI non-Debtor Subs
• 25% of RE/DCR (more than $5.00/share)
• All other WMI property
Ron
The Numbers Are the Numbers!
This has nothing to do with me. I was/have just tracked the numbers and accounting.
The Series R made three payments per year; two dividend payments and one EOY payment regarding the gains above the dividend and $1.50 per share for the Trustees for administration.
Hence; The Performance Payment.
You might be able to find some history regarding JPM Series Z. Same type of Preferred shares.
“Perpetual, non-accumulating”.
From memory; JPM Series Z paid a $34 dividend twice a year and ~$225 Performance payment each year at EOY.
Yes, that’s my expectations,
Ron
P’s Will Receive;
• Over 2.5X from the RE/DCR.
• plus, around another 2.1X from performance payments.
I have posted the proof for the P’s performance payments in the past.
No accumulation from the biannual Dividend payment of $38.
$76 annually. The RE/DCR exceed the accumulation of dividend payments.
Be happy.
Similar for the K’s.
Ron