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WMI Won. DC Court Proved It.
Then the FDIC proved it again.
The BK Court inshrined it in the GSA.
Settled in Plan 6, modified to accommodate the Creditors with a limited LT provision in Plan 7 by the Equity Community.
Few understand Plan 6.
Exhibit H and 510(b).
Ron
Attorney Client Privilege. Tolling Agreements.
They don’t need to tell us anything.
Smile, WMI won.
Ron
The Mineral Rights Wouldn’t Be TEIR 1 Assets.
But still assets. Non active mines would be considered a dormant asset and may have been leveraged accordingly. WMI didn’t over leverage like JPM. Leveraging an asset exposures the asset.
Maybe our friends from Oklahoma can chime in regarding dormant oil wells.
Ron
True. But Also $400 Billion in Damages.
Millions in fines.
Another big difference.
Damages to WaMu would be about 80% of the $400 Billion the FDIC is seeking.
$320 Billion.
WaMu securitized over $2 Trillion in RMBS. WaMu securitized many other forms of debt. Securitized as ABS.
Corporate debt, Auto loans…
Ron
$400 Billion in Damages, Millions in Fines.
$400 Billion for the damaged parties, WMB and other banks.
Fines are paid to SEC and/or other government agencies.
Ron
Your Release Tells You Differently.
Again; 41.6 “Willful Misconduct” RICO Carries a multiplier on the valuation as part of the settlement.
Again: WMI sued the FDIC for $307.2 Billion for WMB and it’s Assets. About $8 Billion came back to the Estate and that was used to pay Creditors.
DONE!
The FDIC’s reported $299 for WMB and it’s Assets.
The accounting works.
JPM lost the Dual Track in DC.
JPM is required to pay full book value for WMB and it’s Assets as ruled.
The FDIC is required to pay interest for WMB and it’s Assets. The FDIC will charge JPM for the interest payments. All at no cost to the FDIC.
$80 Billion is absolutely NOT a correct valuation for WMB and it’s Assets.
Ron
And That Came From Plan 6 Assets.
Plan 7 only received sufficient funds from the Plan 6 LT to pay Creditors.
Done.
Yes I have proven with documentation. PDF 150. Posted countless times.
I have listed the 363/365 Sales assets sold to JPM countless times. All tabulated in the GSA/DS. Retained Earnings generated from assets sold to JPM of the $33-$8=$24ish. $20.7 Billion-> became +$25 Billion 75/25 split.
You don’t get my money and I don’t get your money.
I have listed the assets sold to generate the RE.
Series R performance payments I proven two different ways.
The AAOC Plan 6 LT Holds the WMI Subs and WMB Receivership Claim.
And more for the Equity Class based on ownership of the property ownership right’s.
Ron
-> AZ is Correct <-
WMB Notes are covered by $26 Billion in ABS and only $14 Billion in obligations.
The losses are covered by the derivative insurance.
Hence; no losses for the investors.
I also gave you a thumbs-up
Ron
Thanks imbellish.
I posted this on other related IHUB MB’s.
Lehman’s and COOP/WaMu.
Ron
To Better Understand LIBOR.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173919012
Ron
Very Important For Lehman’s Holders.
Discuss Barclays LIBOR Manipulation.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173919012
Ron
I Understand That The FHFA Settled LIBOR.
on F&F behalf Last Summer Just before the PPS starts to rise.
https://www.docketbird.com/court-cases/In-re-Libor-Based-Financial-Instruments-Antitrust-Litigation/nysd-1:2011-md-02262
LIBOR is all about settling the Derivative Market Meltdown of 2008.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173888489
Ron
Incredible DD and Post IPrelude.
Great job Split_T and IPrelure.
Many corporate names to hide the many parts of the sausage.
All of the assets are still there awaiting distributions to the equity classes.
Nothing has been lost.
Yes, more than Far and Reasonable all based on ownership.
It’s time for the FDIC to complete the process.
JPM lost!!
Ron
Why Would a WMI Sub Need a OilGas Distribution Company?
Yes AJ is the survivor. 2022?
2010…
Pre Plan 6.
Ron
Study the Dates. Plan 6 LT Is Making More Sense.
2010 even is before Plan 6.
Plan 7 Pre-reorganization.
??
Another sub of pre WMI Holdings Corp?
The filings are always correct.
What corporate entity is being discussed?
Many names for the almost the same sausage.
WMIH referenced as two or three different corporate corporations profiles.
The owners of the property still owns the property.
Is AJ going to manage our Denke oil/gas reserves?
Ron
Is A. J. Hurt Jr. Inc. Public or Private?
TIA.
Ron
The Plan 6 Liquidation Trust Is Significant.
Shame more of you can’t understand what happened.
Yes, P-6-LT was created by AAOC and later control was transferred to the Equity Community as requested before Plan 7 litigation.
Yea Yea, I have heard your poor argument that Plan 6 was never approved. The LT had already been created before any need for a Plan approval.
The FDIC receivership claims lives in this Trust/DCR/DST created by AAOC in Plan 6.
The Plan 7 LT is only for the Creditors.
Paid. DONE.
AAOC wasn’t friendly with JPM.
Proof; The Discovery Document.
RICO! The leverage AAOC used to force JPM to concede during Plan 6 litigation.
Hence; 41.6 for “Willful Misconduct”.
I win again.
Ron
And Where Did COOP Come From?
For extra credit;
COOP is a subsidiary of who?
Goooo WaMu!!!!!
I have already explained the answer.
XXXX is no longer the Registrant.
Ron
Thanks Split T for Your Research.
As I understand it, we have an active DST, but no active LT. The Plan 7 LT we know about was for paying the Creditors. DONE.
Please remember that AAOC created the first LT in Plan 6 to hide the assets from us.
But we still have the active DST.
Plan 6 DST for equity?!?
I say yes!
The Equity Community took control of the Plan 6 DST LT as requested.
Documented!
One DST with two mission statements.
Creditors and Equity.
Ron
Incredibly Significant Post.
Bear Stearns was a major holder of derivative insured ABS/RMBS for their investors. Great investment income from these bonds.
Same for Lehman’s, AIG, F&F.
WaMu held cash reserves between the two banks.
Investment banks like BS, Lehman’s, and AIG keep little in reserve because the market was mark to market to maximize returns for investors and the bonds were insured.
For JPM as a derivative writer as the mortgage market rose it was all free money and promoting the expansion of the mortgage market. More free money.
JPM, 57% of a $13 Trillion RMBS market.
Then the market starts to change to the downside and JPM is very exposed to the derivative contracts written. Now JPM and other Derivative exposed banks start manipulation of the LIBOR interest rates to control their losses.
JPM slow paid on the derivative contracts and forcing the ‘in the money’ counter parties into bankruptcy due to the lack of payments.
JPM was broke.
Ron
Because Stuart Landerfield in the first First Filing Said So.
BK-28.
Stew said that no one can see the assets of WMIIC other than himself, the Judge, and WMI Counsel/WGM/Rosen. Basically a Direct statement in the first document!
Even The WMI BOD was bared from viewing the assets of WMIIC. Therefore Nelson was also bared from discussion regarding WMIIC and it’s assets.
Possible simple numbers;
WaMu securitized $2 Trillion in RMBS of which $500 Billion was sold to F&F.
The securitizer is required to hold a minimum of 15% of their offerings.
$1500 Billion x .15(15%) = $225 Billion minimum.
The losses are covered by the derivative contracts.
Hence: LIBOR.
WMIIC is a sub of WMI not a sub of WMB. The BK filing is the proof.
Please remember that investments are liabilities until liquidation.
WaMu is the FDIC’s way of being ambitious as to WMI/WMB.
Ron
41.6 “Willful Misconduct”
is very significant in this context.
The government authorities had no legal authority to seize WaMu assets.
The Discovery Document proved Project West as an civil RICO action.
LIBOR is criminal RICO and requires a jail term.
The FDIC has to enforce the full book value for payment WMB and it’s assets from JPM or the FDIC must pay for WMB and it’s Assets.
JD needs to settle fast.
IMO, 2X for WMB and it’s Assets. Plus past interest at around 2% basted on THJMW. Which is semi compound.
Ron
Please see my updated post.
Sorry but I have seen so much BS . Yes I over reacted.
I’m sure that you understand.
My apologies.
Ron
I reread your post. EOM
LIBOR Currency Manipulation. The FDIC/FHFA is Suing
the big Banks on WMB’s and others behalf.
Can JPM be indemnified for damages to WMI/WMB when JPM was actively manipulating LIBOR rates through currency manipulation undermining the ABS/RMBS profits of WMI/WMB?
Criminal RICO.
41.6 “Willful Misconduct” is civil RICO.
Ron
For a Corporation, Investments are a Liability.
The money invested is at risk and can go to zero.
What is JPM’s current Tier I rating?
What about $1.4 Trillion in assets?
Does JPM need to be seized and all of their property and assets given to WMI stakeholders?
I win!
Ron
JPM Requested the Release for “Willful Misconduct”,
By the stakeholders of WMI as part of the GSA/Plan Settlement.
The Discovery Document proved JPM’s guilt as did also the “Willful Misconduct” Release request.
“Willful Misconduct” never needed a ruling from the Bench. The parties agreed to the settlement. “Willful Misconduct” settlements typically carry a monetary penalty.
2X would be reasonable.
No payment, No Release!
Tolling Agreements. Attorney Client Privilege.
We will never see the agreements.
Ron
41.6 “Willful Misconduct! EOM.
Proof that You Haven't Be Keeping Up.
No I won’t waste my time educating you.
You can go back through my history and see for yourself.
Have a nice day.
Go Fish…
Ron
Fifth Amendment Taking.
That case was heard in DC. WMI sued the FDIC for $307.2 Billion as a 5AT. The FDIC didn’t have the authority to seize a Holding Company’s property. The OTS and WMI had a Memorandum of Understanding that the two banks, WMB and WMBfsb would shore each other up as needed. That is what was happening before the illegal seizure. 5AT.
JPM became an Intervener and the Judge ruled that JPM is to pay full book value for WMB and it’s Assets as of the seizure date.
Tolling Agreements.
Tolling Agreements are not public.
Ron
All Solved in The GSA.
The DC Dual Track is incorporated into the GSA and the Plan.
41.6 is our JPM executives release for “Willful Misconduct”, code word for civil RICO.
A multiple is to be paid for a “Willful Misconduct” release. Settled by the Equity Community. The FDIC is tabulating the final valuation for JPM to pay. LIBOR is part of the final tabulation for WMB and it’s Assets and WMI/WMB’s losses.
Ron
Just Because JPM “Found it”,
Doesn’t mean WMI/WMB ever lost it.
Furthermore, now that JPM “found it” JPM gets to pay for it.
Our proof;
• 41.6 is not settled with a payment for WMI’s assets. WMB is an asset of WMI.
• The FDIC receivership of WMB is not closed!!
• DC Court ruled against JPM as an intervener in the case where WMI sued the FDIC. “Full book value for WMB and it’s assets”. WMI sued for $307.2 Billion.
IMO, I’m expecting the FDIC to start making ‘dividend distribution payments’.
Reason; LIBOR Litigation Settlements.
Orchestrated Currency manipulation is Criminal RICO. Mandatory jail time.
Expecting a surprise,
Ron
Because The Market Doesn’t Fully Know.
COOP vs, The Original WMIH.
Some assets go to COOP.
Much more Assets stay safe with the released WMI shareholders.
RE satisfied Class 19’s claims and very generously.
Why would Class 19 complain about 2.5X return?
I have Series R at +~4.6X return.
Very few people understand the performance payments.
Nice to see COOP moving. Must be the same reason for WMIH, Lehman’s, and F&F which are all in LIBOR litigation resolution.
Ron
Like the Rock of Gibraltar.
41.6 isn’t moving.
Ron
Correct, WMB Has Not Been Paid For.
41.6 release for “Willful Misconduct” isn’t satisfied until the payment for WMB clears.
No payment no release. Just that simple!
The $1.9 Billion was just admission fees. Documented by the FDIC.
$299 Billion for WMB and it’s assets.
Litigated in DC and FDIC/JPM lost in the Dual Track.
Add in time and interest and a great big penalty for a criminal RICO and criminal LIBOR Currency Manipulation.
Only RE is 75/25%,
Ron
I Haven’t Seen a Document,
or Presentation posted to Make Me Change my view.
• 75/25% is limited to the Retained Earnings held in Treasury Notes now worth ~$25 Billion.
• Focus on Property Rights!
BK law is all about Property Rights and Contracts.
• You don’t get other peoples stuff.
Class 22 has no right to Series R Preferred Funding performance accumulation distributions. Not Class 22’s properly!
The same is true, Class 19 has no right to Class 22’s property because Class 22 has proven to the Court that Class 19’s claim is satisfied with the Retained Earnings.
75/25% ruling can not be based on future speculation on WMIH/COOP stock price, or the speculation of future litigation settlements.
• The money needed to be secured by Class 22 in a safe place to satisfy Class 19’s claims and Class 22 did!
COOP PPS needs to exceed $600 for Series R to see one face.
The money was set aside in Treasury Notes as stated by BR, that became designated as Retained Earnings in the February MOR.
Yes I have done my homework,
Ron
PS
WMB is another topic to be addressed.
The numbers haven’t changed. Now add time and interest.
All True Public Statements by The FDIC.
Currently…
The WMB Covered Notes will pay for themselves due to $26 Billion in assets backing $13 Billion in obligations. Now currently tied up in the LIBOR litigation.
We win,
Ron
AAOC Created The Liquidation Trust.
$6-$6.5 Billion in Capital Contribution.
$5 Billion in Rabbi Trusts.
…
$32-$8 = $24
Later came the $4 Billion in the Exchange Event, and $3.9 Billion in the Turn-over.
These funds are now available in the Retained Earnings of the February MOR.
Ron
The WMB Notes are Covered Securities.
The Asset backing for the WMB Notes is ~$26 Billion to cover a ~$14 Billion claim.
The valuation of these assets is still pending due to the LIBOR Litigation.
The FDIC will start dividend payments before the Receivership closure.
The WMB Notes are JPM’s responsibility. And JPM needs to pay full book value for the WMB Notes backing assets over and above the notes obligation.
So yes equity can receive payment before the WMB Notes.
Not our problem!!
Ron
No IHUB PM to Respond.
Yes I’m receiving PM,s.
I first started posting on Yahoo a long time ago.
Does IHUB still have Happy Hour on Friday after market closes?
Ron