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AAOC Only Received ~$10.35 for Their H’s.
That is a long way from making out like bandits.
The H’s full claim would have been $50, and could have been valued at ~$35.
True AAOC didn’t get jail time. But AAOC didn’t get the WMI Estate, Equity did!
Yes I still await my coming payday. Which has not gone away.
Ron
AAOC Lost! EC Won!
Justin Nelson’s presentation to the Court along with Parker Fosse(sp) cross examination shotdown Plan 6 and exposed more than $30 Billion of which $24 Billion in 363 Sales of which $20.7 became Retained Earnings.
Brian Rosen Answered to Edger Sargent during Plan 7’s creation and implementation.
The Plan 7 LT purpose was only to pay Creditors, and the LT did!
BK satisfied.
Plan 6 LT hid the assets.
The Plans:
WMB; Exhibit H, 510(b).
Non Debtor Subs
Ron
Yes Royal. LIBOR is being Settled.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170379062
Yes WMI and Lehman’s are joined at the hip regarding LIBOR. F&F are in the LIBOR mix also.
The Derivative market’s manipulation of currency/LIBOR rates is coming to a close.
No more FED Bank executives need to be helped to jump out the window.
Last count, JPM executives was 22,
Ron
Noticed What the FDIC Didn’t Tell Us.
The FDIC never tells us about the monitory settlements involved in the Receiverships. The FDIC did say that dividend distributions were paid if applicable, but never how much was paid.
Says to me that the FDIC isn’t going to tell us either regarding the coming dividends.
Can we find out what was paid?
Ron
Dividend Distributions for WMB Happens First.
Then when the FDIC has completed the accounting, fees, and dividend distributions to us WMB claim holders and empty the the WMB account is the Receivership due to be closed.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170371148
Ok, I Made That Call to Quick.
But yes I’m expecting the FDIC LIBOR Litigation to be closed anytime now. We are about two months past the FDIC extension request.
I wouldn’t be surprised if FDIC LIBOR is Settled already, just not announced yet.
Ron
Looks Like LIBOR is Settled.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170379062
Yes, now the FDIC can make Dividend Distributions and close the Receivership of WMB.
Ron
The Equity Community Won!
Rosen answered to and represented the Equity Community of ES from SG during the creation and implementation of Plan 7, which incorporated Plan 6 with adjustments to shift the protected assets to Equity Classes, and a reserve for Creditors which are all paid.
LIBOR litigation closure will free the Safe Harbor assets for distributions.
A major percentage of ABS in Safe Harbor are LIBOR interest rate dependent.
Ron
The FDIC Sued On Behalf of WMB.
The FDIC sued the Big Banks regarding LIBOR/currency manipulation that caused WMB’s failure. The FDIC’s words not mine!
Johnny posted the FDIC litigation against the Big Banks on BP. Great read!!
That litigation is nearing closure.
LIBOR settlements frees all assets held in Safe Harbor for distributions for WMI, Lehman’s, and F&F as the 2008 Derivative market meltdown is finally settled.
Ron
Biz, Not Sure What You Mean?
The FDIC sued the Big Banks regarding LIBOR/currency manipulation that caused WMB’s failure. The FDIC’s words not mine!
Johnny posted the FDIC litigation against the Big Banks on BP. Great read!!
That litigation is nearing closure.
LIBOR settlements frees all assets held in Safe Harbor for distributions for WMI, Lehman’s, and F&F as the 2008 Derivative market meltdown is finally settled.
Ron
Could It Be as Easy As;
Just like WMI, Lehman’s is awaiting the FDIC LIBOR Litigation to finalize to release the Safe Harbor Assets/Trusts?
The FDIC LIBOR Litigation resolution is due. Time extension should be exhausted by now.
Then IMO the other judge can rule in November.
The CT’s will pay for themselves from Safe Harbor Assets.
LEHPQ will be treated the same as WMIPQ and receive past performance payments.
Ron
LBT vs. LBT?
LEHMAN BROTHERS TREASURY CO B.V
vs.
LEHMAN BROTHERS TRUSTS
When the math of definitions don’t work, I ask questions.
We need more information.
Any insight?
Hint; MARTA,
Ron
Johnny; Remember the LIBOR Litigation?
You posted the documents on BP regarding FDIC’s Currency Manipulation by the Big Banks that devalued the LIBOR interest rates that caused WaMu/WMB’s failure. The FDIC was suing the Big Banks on seized banks like WaMu/WMB behalf.
That litigation is nearly completed. The FDIC ask over a month ago for a time extension. No information about how long the extension is.
Lehman’s is named, and Lehman’s looks like they are ready to move forward as LIBOR closes.
Ron
Johnny; You probably Signed a W-9.
The IRS and your Broker has your records of past holdings.
FDIC should be finishing up the LIBOR litigation.
Ron
Johnny; At a Minimum ~$25 Billion 75/25%.
The Retained Earnings of $20.77 Billion placed in Treasury Notes should be worth $25 Billion by now.
The eleventh year is around mid-January to reach maturity.
This money was nothing to do with the FDIC or JPM.
Ron
Please reread my updated post.
As I said; MARTA’s claim vaporized with no explanation.
Same for Lehman’s claims.
No TG, Solvent Debtor.
The business was disrupted by a failure of an agreement with JPM to fitful JPM’s ‘historical’ agreement of funding Lehman’s with an overnight loan to close Lehman’s books for the night.
Now TG;
What is going on with LIBOR?
:)
All Creditors have/will be paid in full.
Like MARTA, the Claimants Investment paid their claim. Think; RMBS/ABS.
MARTA was a real claim, MARTA just filed to protect their investments/claim.
Same for Lehman’s claimants.
Ron
Ron is More Than TECHNICALLY RIGHT.
Why did MARTA vanishing? POOF!
Are Lehman’s claims more than settled as LIBOR is settled for RMBS and other ABS holders?
We( WMI/Lehman’s/F&F) should be hearing about LIBOR closure ASAP. The FDIC extension should be timed out by now.
Time for a Ruling on a settlement,
Ron
And Here Too;
Claims with just vanish.
Solvent Debtor just like WMI.
Lehman’s couldn’t close their books on the night of September 14th, and filed for BK protectionism the fallowing morning because JPM was broke and didn’t have the $17 Billion to loan Lehman’s for the night.
Lehman’s still has profitable business and will satisfy its debts.
Remember; Lehman’s has 26,000 employees.
Ron
Just Like MARTA;
Many of these Lehman’s claims will just disappear.
MARTA was a claim for ~$40 Billion. Plan 7 was created and the MARTA claims just disappeared unpaid by the Debtor.
The claims disappearance was never explained.
Ron
And WMI had a $40 Billion MARTA Claim.
That claim went poof.
Why?
Was the MARTA claim paid off by the investments itself?
Yes, same thing here.
Lehman’s is Currently Solvent as it has Always Been.
That is why Lehman’s currently has 26000 employees to close out the Creditors claims.
OBS to Equity.
The History;
2007-2008 Lehman’s and JPM operated under a mutual agreement that JPM was to front $17 Billion in an overnight fund that was used to close Lehman’s books ‘mark to market’.
On September 14th as the run on the market due to the Derivative Credit Crisis created by JPM was in full meltdown.
$650 Billion was removed from the market in less than three hours on September 14th.
JPM was totally bankrupted, as was other FRB banks.
Hint;
How much was the Bank Bailout?
That is how much the “large banks” needed.
Hold Series P,
Ron
I Think The FDIC/FRB are Expecting Another Derivative Meltdown.
The “large banks” act as unregulated insurance companies, and place more bets(policies) than they can cover.
That is what happened in 2007-2008. JPM, BOA, WF... had $83+ Trillion in Notables(Contracts). The mortgage market at that time was $13 Trillion. Not all RMBS were insured by Derivative contracts, but enough and more than the “larger banks” could cover.
The “large banks” are part of the FRB, as was Lehman’s.
Anyone have the number for the current Derivative market?
Totally staggering. Beyond meltdown.
A Derivative Contract is equivalent to a naked call as an example.
The Derivative market needs to be regulated as to keep the “large banks” writing more contracts than they can cover.
I doubt that the FDIC/FRB will discuss the Derivative market issues in this Proposed Rules because they need to pretend that there is no problem.
Ron
Does Anyone Have WMI Dividend Distributions Numbers before BK ?
TIA,
Ron
Here We Go Again....
More mambo jumbo numbers from the guy that I have on ignore.
No flow, not you!
The NOL write off ranged from ~$17 - $24B as a placeholder for the real Operating Loss of the seizure of WMB at a 35% multiplier for the exercisable NOL write off.
$17-> $5.95
$20.77 -> $7.27
$24 -> $8.4
OPERATING LOSS. WMI has not been operating WMB, and WMI has experienced a loss.
Retained Earnings is NOT a way to reference NOL Tax attitudes on a Balanced Sheet. Alternating use of the parentheses is how the money is transferred from one balance sheet to another. Pre BK vs. Post BK.
!! Treasury Notes!!!
Bottom Line;
The valuation of “WMB and it’s assets” and the associated loss has not been determined yet.
Ron
Judge Said; “I Will Rule Within a Year”.
That was said in November, 2021.
I think it was a UK Judge. Does anyone have more details?
IMO; LIBOR/CDS/CMO is all soon settled by FDIC and other Government agencies.
***
And see replied to post,
Ron
No. JPM Lost The Dual Track.
Then The Global Settlement was created so JPM can pay Full Book Value for “WMB and it’s assets”.
Plus we have 41.6 and “Willful Misconduct”. So add-in a multiple to Book Value to settle civil RICO.
WMB’s Final Book Value is being determined by FDIC LIBOR pay-backs to WMB.
It’s time to start seeing distributions from the FDIC,
Ron
The NOL’s Came From the WMB Stock Abandonment.
This NOL usage is temporary until JPM pays for “WMB and it’s assets”, which the FDIC is concluding at this time.
The $20.7 Retained Earnings is about the 363 Sales of WMI assets to JPM agreed to in the GSA and documented in both DSs.
* Capital Contributions of $6.5 Billion
* TPS Exchange Event of $4 Billion
* Rabbi Trusts of $5 Billion
...
All well documented in the Equity Community presentation.
$20.7 Billion was then placed into Treasury Notes by the EC.
Just pointing out that we are taking about different numbers,
Ron
Awaiting Receivership Issues to Close.
So that the Receivership can start the dividend distributions to close the Receivership.
LIBOR is the only issue I know of, and I’m expecting news that this to be settled. FDIC’s time extension should be exhausted by now. LIBOR will settle the final valuation of WMB and it’s assets so JPM can write the check!
Ron
FDIC LIBOR needs to resolve to finalize the sale price for WMB.
JPM lost the Dual Track.
WMI sued the FDIC for $307.2 Billion. $7.9 Billion came back. Then by the FDIC; “$299 for WMB and it’s assets”.
That has not changed. Just needs to be adjusted for LIBOR’s settlements. True I don’t believe that LIBOR is big numbers of returns, but it’s settled and money can move!
I expect dividend payments from the FDIC shortly after we hear about FDIC LIBOR settlements.
It’s all about the money numbers and settlements.
WMB has not been paid for yet.
Class 19 has not been satisfied yet, RE/DCR of ~$25B 75/25% Class 19/22 has not been distributed yet.
Just track the money numbers.
No one lied, their job is to protect the Estate,
Ron
FDIC Can’t Close the WMB Receivership Until LIBOR is Settled.
I don’t believe that the WMB LIBOR portion is regarding $400 Billion.
$300 Billion for WMB and it’s assets has already been stated by the FDIC.
JPM needs a final valuation of WMB from the FDIC to make the final payment.
Ron
One Big Share! OBS.
As I understand the OBS was set up by the Court to protect Lehman’s employees stock rewards program, if they remained to help run the business to satisfy Creditors claims against the Estate.
Lehman’s has $31.1 Billion in Claims against itself.
~”129 Billion in Claims and $96 Billion is third party”, or 24% of the total Claims is due back to the Debtor.
Looks like CT assets helped pay other claimants. What about the Debentures?
A major part of the BK process is to hide your money from others (ambulance chasers).
Ron
The FDIC LIBOR Litigation has to Settle First.
JPM’s price tag for WMB is not know until LIBOR is settled.
LIBOR recoveries are needed for ABS/RMBS Trusts also.
Ron
Credit Default Swaps are Derivatives.
So are Collateralized Mortgage Obligations derivatives.
Many/most ABS/RMBS and their insurance through Derivative contracts are all based on the LIBOR rate.
According to the FDIC; “WMB securitized $2 Trillion in RMBS of which $500 Billion was sold to government agencies like F&F”.
Same resolution for Lehman’s and F&F.
Ron
Note 5 – Legal Proceedings
PDF 14/19.
https://document.epiq11.com/document/getdocumentbycode?docId=4110217&projectCode=LBH&source=DM
Does the POR Ever State Which Class is Impaired?
I don’t believe that the POR states what Creditor Class is impaired.
All claims are “satisfied in full “. Class 3 through Class 11.
The POR has been paying Creditors Claims years now.
CT -> Debentures, or the assets held in the Capital Trusts?!
OBS(shares) -> Class 12?!
We will see,
Ron
It All About LIBOR.
Lehman’s was named in the FDIC LIBOR litigation involving currency manipulation with all the other big banks.
Most ABS/RMBS are LIBOR based.
Lehman’s is on both sides of this litigation; Lehman’s wrote Derivative contract insuring the ABS, and held ABS Certs.
The FDIC has asked for a time extension last month, should be timing out about now.
Ron
Any Updates on FDIC’s Time Extension?
The time extension should be exhausted by now.
LIBOR Settled and signed off by Judge, or ruled on by Judge.
We should have a answer...
WaMu, Lehman’s, and F&F are all in the same boat,
Ron
It Was a Great Test of CT’s Market.
Good job mates!