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Strike-Out Tick!
206 is a Seattle area code.
That’s Chad’s number, not Mathew’s.
More About Mathew.
https://www.linkedin.com/in/matthewboutte?original_referer=https%3A%2F%2Fwww.google.com%2F
About
A proven banking executive with broad experience in bank treasury, balance sheet risk, fixed income portfolio management, stress testing, and product line finance functions at institutions of varying sizes. Key focuses include risk/return trade-offs, business line partnerships, and team development.
Experience
BCM Advisory Services & Boutte Capital Management LLC Graphic
Founder
BCM Advisory Services & Boutte Capital Management LLC
May 2019 - Present3 years 3 months
Paladin Acquisitions Corporation Graphic
CEO & President
Paladin Acquisitions Corporation
May 2021 - Present1 year 3 months
USAA, FSB
USAA, FSB
7 years 6 months
Assistant Vice President, Asset/Liability Management
Jun 2016 - May 20215 years
San Antonio, Texas Area
Executive Director, Asset/Liability Management
Dec 2013 - Jun 20162 years 7 months
San Antonio, Texas Area
Thanks ND9; Did Mathew Ever Work for WaMu?
We know Chad and Peter did.
Flow; What Do We Know About Mathew Boutte?
And what can we learn about Rule 506(b)?
TIA,
Ron
Flow! All the 363 Sales are in DS.
Both Plan 6 and 7, because the Sales took place during Plan 6.
Ron
Denny, Are You Good at Reading the Documents?
....?
UQ=$5.14 From RE/DCR.
Yes, P’s to ~4.6X.
Performance!
More for UQ from other assets.
I have proven the performance aspect of Series R.
Hint;
JPM Series Z.
Denny, Please Tell Me About the 363 Sales?
The 363 Sales took place during Plan 6.
Please tell me!
No 75/25% to the END,
Ron
My Math, UQ’s Get $5.14.
~$25*.25= $6.26
$6.25/1.215 released = ~$5.14
Other UQ assets may see the 1.7 billion divider applied.
This topic was well discussed in the Plan 6 Hearings.
Can’t be forced to sign.
But, JPM made a contribution to the Plan for releases.
Me! I believe that we will see the 1.7 Billion divider used for other UQ assets distributions after Retained Earnings.
Ron
Class 22 Gave Class 19 a Very Good Deal.
The Retained Earnings held in Treasury Notes should be worth about $25 Billion now.
Applying 75/25%,
~2.5X to all Class 19 participants.
~2.5X is much greater than back interest. Do the Math!
*TPS; Done.
*K’s; maybe a little more. I don’t remember if perpetual or not. Matured 2018.
*P’s; Perpetual, my calculations adds another 2.1X for performance from the Preferred Funding Trust.
END 75/25% with Retained Earnings, add Performance if applicable.
“2) Judge Walrath - let me posit the reorg company being worth ten billion. Isn't this something that I MUST take into consideration to ensure some are not getting more than they should”
75/25% to the End would be as the Judge stated.
Think about it!
Ron
That Statement was Made During Plan 6 Hearings.
“the liquidating trust can go ahead and pursue them. They will still be there; they can be carried through.”
Yes AAOC Plan 6 Liquidating Trust has them.
Plan 7 LT doesn’t have the Retained Assets.
All well documented.
Ron
Only Plan 7 LT Filed for Cancellation.
I don’t believe Plan 6 LT is a Delaware Statutory Trust.
DST are well defined in their objective. In this case; pay Creditors. Done!
AAOC Plan 6 LT is a different Trust type.
That’s why we know nothing about the Trust.
Hint;
We read about the Plan 7 LT, and then we read about the generic LT.
Plan 6 LT is the generic LT.
They never lie,
Ron
Not From a Trust. No Leverage.
The Trustees can’t leverage the assets. Only manage the revenue stream and make payments.
Big Thanks Back to You ND9.
You have done great DD repeatedly.
Always looking forward to your posts.
Ron
Flow. The Trust Shares Regarding WAAC and Friends.
Is not a IPO, (Initial Public Offering) of shares to the market place.
The Trust shares recipients are predetermined.
Not public. The recipients are known.
Old Equity.
Yes There is a AAOC Plan 6 Liquidating Trust.
Where do you think that the WMI Non-Debtor Subs have been hiding?
Plan 7 LT doesn’t have them.
WMIH/COOP doesn’t have them. COOP employees didn’t make the Subs Active.
WK and CS made the WMI Non-Debtor Subs Active, and WK and CS do not work for COOP.
WK is the Trustee.
Trusts are Private!
Very little changed between P6 and P7. Just the Recipients of Plan 6 LT changed.
Hint;
“That’s Not the Trust Your Looking For”
All well documented.
Ron
A&M is Still Working. WK is Still The Trustee.
The Liquidating Trusts pay their own bills as a unique private entity.
Plan 7 LT completed. Creditors all paid!
AAOC Plan 6 LT holds the assets like the WMI Non-Debtor Subs that became Active, WMI claim against the FDIC for WMB, ABS Certs held by WMI, Preferred Funding,
Retained Earnings are in Treasury Notes due to mature anytime now.
Ron
Correct ND9. Now Where are Those Active Subs?
Please see the two reply’s to posts.
Any news regarding WM Citation and friends?
Paladin?
Get to work WK.
Ron
Item 4 of Countless Court Hearings Agendas.
“WAAC and WMRRC are affiliates of the Debtor.”
It’s now time to close the books on this fiasco.
I believe all this current DTCC activity is about closing the books on LIBOR and the Derivative/Swaps.
I Told the MB About the Plan 6 LT.
No one believed me!
Plan 7 LT can’t operate a going forward business. Liquidation Only!
Therefore this cannot be about the Plan 7 LT.
AAOC protected the assets in Plan 6 with no restrictions.
The Equity Community took control of the BK by proving that the Debtor had $20.77 Billion in cash from the 363 Sales.
Ron
Great Find ND9.
The term “Trust Company” I find interesting.
Plan 7 LT can’t operate a business beyond liquidation.
The Non-Debtor Subs are full operations.
A functioning enterprise of active revenue producing assets.
I’m still thinking ‘WMI Non-Debtor Subs’.
WMIH Holdings Corp (Inc) went private and holds/controls the assets.
! Wand!
Ron
Flow, Very Interesting!
The Delaware Counsel Group LLC.
Attorneys at Law.
I don’t believe that this is regarding the RE/DCR because that is cash from the 363 Sales placed into Treasury Notes.
The cash would just be distributed, no need for shares.
? What about the now Active WMI Non-Debtor Subs?
Could Paladin be involved?
True, But Better Then Jail-time for RICO.
JPM’s whole BOD was guilty. The BOD reviewed the Project West presentations. Three times or more.
Just the RICO Headline in the New York Times would have liked JPM.
WMI sued JPM for $307.2 Billion based on RICO charges from the Quinn Emanuel discovery which proved JPM’s gilt.
JPM settled fast, very fast!
Hence; 41.6, “Willful Misconduct”.
The $14 Billion Hurdle is Covered by the Notes Themselves.
The WMB Notes are Euro covered notes, and backed by a $26 Billion portfolio in Trusts.
The issue is JPM and their LIBOR manipulation and derivative exposure that needs pay back.
Same for Lehman’s and F&F.
Roger That Strike.
“I think the write-down begs the question of a future write-UP.”
LIBOR and Derivative corrections are due.
2008 Credit meltdown was all about JPM’s Derivative Contracts exposure and JPM still needs to pay up.
The Dual Track Ruled Against JPM!
JPM is required to pay for WMB Book Value on record at the time of the Seizure.
Both the OTS and WMI agree; $307.2 Billion. Plus; the FDIC, “$299.7 Billion for WMB and it’s assets” after $7.9 Billion came back to the Estate and was used to pay Creditors.
All the FDIC is saying that you posted is that JPM’s check hasn’t cleared yet.
Ron
Don't change horses in the middle of a stream.
Giddy-up, giddy-up
Hi-o yeah
Giddy-up, giddy-up
Hi-o silver
Go Class 22. The Owners of the Debtor’s Estate.
Yes I own P’s. Almost many as Alice.
I didn’t change horses with the 75/25 frenzy.
NO Bob! “Unjust Enrichment”.
Due to the Equity Community representing Class 22 choosing to set aside $20.77 Billion in a DCR to be split 75/25%.
Your $1,000 Series R per share claim is at ~2.5X, ~$2,500. That’s your gripe?
TPS $4 Billion claim is rewarded ~$10 billion.
Class19’s claim is satisfied with the money in the DCR safely held in Treasury Notes. Class 19’s claim is satisfied, but not paid yet. (Yes I don’t like it either because I hold P’s also.)
That’s why APR was removed.
With APR removal, class 22 as able to participate in receiving WMIH shares.
It’s all about Property Rights. Class 22 Owns The Debtor’s Estate. WMB payment goes to Class 22, and all other distributions. Only the DCR is distributed 75/25%.
UW Plan 6 claim was in Class 20 just like the other Series R and Series K claims, and not in class 19. Plan 7 moved P and K into Class 19 with TPS. The Plan 6 Stipulation needed to reflect changes made to Plan 7. There was no issue.
Alice was a tool for JPM to buy time. Two wasted years!
Her arguments were baseless and fictitious.
Bob; quit being greedy!!!
Your Class 19 claim is over compensated.
Be thankful!
Ron
Alice Had NO Authority to Renegotiate Plan 7.
Pure Fiction!
Alice was just creating a delay as a surrogate for JPM.
The whole Class 22 offer by Alice has NO grounds. She just made it up.
The UW just had to protect their claims from a frivolous suit.
Big Numbers.
The List of Distributions Due.
1. Retained Earnings; ~$25 Billion 75/25% held in Treasury Notes as a Disputed Ownership Fund. P’s performance is another +2.1X. Class 19 is done. UQ’s; $5.14 per share.
No more 75/25% distributions. More Class 19 would be “unjust compensation” for their claim.
All Class 22; either 1.215 Billion of the Released shares or 1.7 Billion of the total shares owns the Debtor’s Estate.
2. WMB 510(b), RICO “Willful Misconduct”, 41.6.
3. ABS/RMBS; “affiliates of the Debtor”. Remember: MARTA?
4. WMIIC; No, can’t look.
5. WMI Non-Debtor Subs that are now Active. S4V?
The WaMu(WMI) enterprise held $375 Billion in Assets.
JPM will pay for WMB, plus a multiple due to 41.6. ~$600B?
FDIC; “$299 Billion for WMB and it’s assets”.
Ron
Newflow, Class 19 Claim is Satisfied Through the DCR.
Therefore; APR is satisfied.
Money from the 363 Sales was used to purchase Treasury Notes now referenced in the February MOR as Retained Earnings and under the heading of DCR.
It’s all in Court transcripts late 2011.
Judge asking how is the Debtor going to satisfy the Class 19 claims against the estate. BR response was ‘we created a reserve to satisfy that claim. Judge asked; how do you know that the money is safe? BR; We put the money in Treasury Notes, we got a good deal’.
Yes there is two DCR’s. One that LT references, and the RE/DCR that stopped just before the LT’s accounting in the MOR.
Yes I understand that it’s difficult for many people to accept that there are two Liquidating Trusts. Plan 6 LT has the assets, and Plan 7 paid the bills due to the Creditors.
I have posted the supporting documents for Plan 6 Liquidating Trust.
What are the Series R holders gripping for? My numbers support 4.5X returns.
Class 22’s gift to Class 19 is very jealous.
75/25% to the end is an “unjust reward” to Class 19.
Ron
No, The Prospectus Was Not Canceled!
The tradable were removed from the market place.
If the Prospectus was cancelled, then your claim would be null and void.
Quit your gripping.
Class 19 is getting more from the DCR than it would from back interest which by Prospectus you wouldn’t be getting anyway!
Non-accumulation; no back interest payments.
A Class 22 Owns the Debtor’s Estate!
Ron
Yes from the Prospectus.
Series R traded at about $1,300 per share. With the interest payment of $76 a year split into two payments.
Therefore the Series R should have been trading in the range of $1,076 a share.
The performance payments accumulation should net another 2.1X.
Yes I’m as frustrated with how long it has taken as everyone else is!
Ron
Try Again Bob.
75/25% ends with the DCR,
Plus P’s and a little more for the K’s (K matured in 2018) from performance of the backing ABS Trusts.
NO back interest! “Non-Accumulation of interest, but perpetual”.
The Series R received two interest payments and one performance payment each year. That’s why they traded on average of $1,300 per share. No back interest, but the performance payments are accumulating.
It’s all about Ownership.
Ron
By Class 22 Providing A Guaranty of Payment to Class 19.
2.177X face value for Class 19 holder just for starters. Now; about 2.5X face. That’s more than what you would receive in back interest.
TPS will be paid in full when the Treasury Notes held in the DCR is distributed. Ten Year Notes mature in eleven years. The Notes might be in a Disputed Ownership Fund and be released at anytime. The Notes were purchased end of 2011, or early 2012.
Retained Earnings is the term for a withheld future Dividend!
The RE/DCR allowed the Court to remove APR which allowed Class 22 to receive distributions of the new stock.
Class 22 owns the Debtor’s Estate. 75/25% stops with the RE/DCR.
The RE/DCR is only one of the five sources of revenue and distributions coming.
Remember, Class 22 owns the Debtor’s Estate. All other distributions go to UQ holders.
We still have not seen that happened to the now Active Non-Debtor Subs!
No, I don’t know what the hold up is.
For links, please see my history; “Again, that’s not the Trusts You’re looking for”,
Ron
Real Close, Newflow.
The February MOR DCR is Not part of the WMI-LT for Creditors.
Class 22 guaranteed Class 19 a 2X payment with the February MOR DCR of $20.77 Billion held in Treasury Notes.
Now ~2.5X for all Class 19.
The TPS experienced the Exchange Event, and their claim became $4 Billion. JPM paid back the claim in a 363 Sale.
The 363 Sales generated the money held in the DCR invested in Treasury Notes. Ten Year Notes? Don’t know because BR didn’t specify details about the notes.
K’s are mature, P’s are non-accumulating but perpetual. No back interest accrued, but the performance payments have been accumulating. Add 2.1X for P’s.
I have posted the links for the Equity Community presentation.
$33 Billion in assets with $8 billion in liabilities on the Debtor’s books.
Any more information regarding the newly active WMI Non-Debtor Subs like WM Citation?
Ron
Washington Mutual Inc has More Than 1,000 Claims.
https://ucp.dor.wa.gov/
Type in; Washington Mutual Inc into business name and Seattle for the city.
Then hit search.
Welcome To The Washington Unclaimed Property Website
https://ucp.dor.wa.gov/
I put my data in, minus the claim ID.
Found references to FDIC claims.
Our money is out there awaiting distributions.
Always checking.
Remember BR said that the FDIC relationship claim payment would come from the Washington State Lost and Found!
Keep looking,
Ron
Really, 6,000 Unclaimed Entities?
“31. With a final distribution to be made and based upon the number of recipients to receive such distribution in excess of six thousand (6,000) Entities, it is possible that some of these distributions may be “undelivered” or go “unclaimed” or “uncashed” 10. And, with the chapter 11 cases being closed, and, therefore, WMILT being unable to file a list with the Bankruptcy Court, in such event, WMILT proposes that, one hundred twenty (120) days following such distribution, WMILT (a) publish a notice, the form of which is annexed hereto as Exhibit “C”, in The Seattle Times, and (b) post a list on the WMILT website, www.wmitrust.com, which list shall remain posted for a period of thirty (30) days, notifying any such parties of their entitlement and the potential loss of recovery. Thereafter, to the extent unclaimed, and due to the de minimis amount of such distribution and the inability to make a reallocation and distribution pursuant to the terms of the Plan, WMILT proposes to donate any such distributions for charitable purposes.
10
Since the Effective Date, WMILT has taken several actions to reduce the possibility that distributions are not delivered, including updating address databases through letters being sent to holders, searching public databases to obtain updated information and seeking updated tax information.”
Yes Newflow, Retained Earnings of $20.77 Billion in DCR.
With interest, RE has become $25 Billion.
75/25%
By the way who was the first to post regarding the Retained Earnings on Yahoo?
DTCC updates and testing distributions starts July 5th+ for ABS-Swaps Derivative reconciling.
Ron