Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
No STRIKE, You Tell Us!
Others have told you, but you didn’t like their answer.
Please give us your documented WHAT and WHEN.
The WHAT is documented.
Ron
Dimp, You Need to Reread My Post.
Juvenile Response.
You Need to Answer YOUR OWN QUESTION of WHEN.
Please tell us about WHEN.
Please provide us your WHEN.
As I said;
WHAT = WHEN.
The MB already has enough complainers.
Be a productive DD provider.
Got a Document???
Please calculate the past interest due after 16 years.
Please justify the interest rates used.
I and the MB wants real established numbers and Dates.
Your turn.
Ron
Why Is It Someone Else’s Responsibility to Answer THEN?
The FDIC isn’t going to answer the WHEN question.
Why don’t you answer the WHEN question!!
If where is a WHAT then there must a WHEN!
Be thankful that others can prove the WHAT!
Ron
5AT, WMI Sued the FDIC.
Sued for $307.2 Billion for WMB and it’s assets. The Parent knows that the value of WMB and it’s assets are. No need to subtract anything from the value stated for the payment required.
All well Documented in Court filings and ruled on in DC Court.
“JPM will pay for everything on the books of WMB as of the day of seizure.”
The FDIC response; “$299 Billion for WMB and it’s assets” after about $8 Billion in payments was made by JPM to WMI.
Now readers; calculate the interest due after 16 years at 1.95% FJR (.0195)?
The math isn’t that difficult.
Now add in a multiple for 41.6.
Not my numbers!
Ron
Judging by the Quality of Responses to My Post.
My confidence is accelerated.
Also, thanks lodas and nova. Both igged, but yes I looked.
The Numbers I present are from the FDIC, OTC, BK, … OCC.
Therefore 100% accurate.
By example;
You should be aware of the FDIC’s statement;
“$299 Billion for WMB and it’s assets”.
The link has been provided many times. FN on page 7.
Red; Are you suggesting that the $307.2 ($299) Billion for WMB and it’s assets is the equity value of WMB?
WMB only has/had one share totally owned by WMI and not tradable on any market. No equity valuation on any market!!!
The FDIC/OTC says that you are insane.
Thanks for the entertainment,
Ron
Correct; Add a $30 Billion to WMB Assets List.
Falls under; other Assets.
WMI/WMB never lost the accounting regarding the asset of $30 Billion.
Thanks for the reminder.
Please remember what WMI sued for….
WMI numbers not my numbers.
I just read and account for the numbers.
Ron
True, I Know Most of You Can’t Do Numbers.
Let alone accounting.
Just follow the numbers, they always tell us the truth.
WMI, the real WaMu had ~$375 Billion in assets but only claimed ~$32 Billion with the BK filing.
~120 subsidiaries, and about 100 subs under the sub WMB.
• WMI sued the FDIC for $307.2 Billion for WMB and it’s assets.
WMI assets;
• $375-$32= $343B.
• $343-$307.2= $35.8B unaccounted for!
? WMIIC? 😎
• FDIC claim that JPM needs to satisfy.
• 41.6.
• and more.
WMB and it’s assets;
• WMB $80B.
• WMBfsb $50B.
• near countless ABS securitized insured notes.
• multiple other assets held in other subs.
• all that JPM needs to pay full book value for WMB and it’s assets.
I have already justified my position on 75/25% distributions and Class 19 is paid in full by the DCR/RE held in Treasury Notes.
Ron
WaMu the Parent Holding Corporation Knows What WMI Owns.
The FDIC and JPM lost in DC Court.
The 15G assets belongs to The Real WaMu, The Parent Holdings Corporation know as WMI.
WMI Holdings Corporation knows what whey sued the FDIC/JPM for. And won.
Ron
WaMu is FDIC/JPM Code Word for WMB.
More camouflage language. WaMu was largely just an advertising campaign by the Parent Holding Corporation, WMI. Only about three subs used the name WaMu.
The true definition for WaMu refers to the Parent Holding Corporation.
The Parent Holding Corporation created the WaMu enterprise.
Back to the Derivative Market Meltdown of 2008.
JPM needed to acquire the “in-the-Money” ABS Notes holders before the big banks needed to cover the ABS Notes losses that the big banks covered by derivatives.
Example;
WMB (15G sited), BS(major investor in ABS secures), F&F.
Lehman’s failed because JPM was Bankrupt.
For the FDIC/JPM, WaMu is equal to
“WMB”. Lose terminology.
WMI, WaMu proper sued the FDIC for $307.2 Billion for “WMB and it’s Assets”. WMI knows what they owned and sued for.
WMB,
WMBfsb,
Trusts held in the 15G report,
And much more!
Now consider 41.6, “Willful Misconduct”, JPM admission of guilt for RICO.
Xoom; I just partially answered your question regarding UQ valuations.
Class 19 is satisfied with the endorsement of the BK Court.
Ron
I Have Answered Your Question Long Ago.
Documented;
WMI sued the FDIC for $307.2 for ‘WMB and it’s assets’.
The FDIC response was $298 Billion for WMB and it’s assets after about surfaced.
$8 Billion to cover all Creditors Claims, plus all Class 19Claims.
Class 22 is now in the money.
The Increasing interest rate accumulation is working against JPM and friends.
Ron
Ask AZ!
Ron
Finally The Lights Came On!
Ron
Correct!
A Covered Bond just like the WMB Notes.
More assets than liabilities to cover all losses.
WMB Notes where covered at a 2X ratio.
$26 Billion in assets for $13 Billion in liabilities. Now grown to ~$14 Billion.
Now consider the performance payments from the base assets?
Ron
Plus +~2.5X From the Retained Earnings.
My calculated Series R return is greater than 4.6X face.
It’s all simple math and BK documents understanding.
For the Common Share Holders to inherit the Estates property, Class 22 needed to prove to the BK Court that Class 19 would be satisfied by the February MOR Retained Earnings of $20.78 Billion. Now north of $25 Billion.
The End of 75/25%.
DONE!!!!
Class 22 owns the WMI property, COOP is only a sub.
Ron
The Graph is Very Significant.
I changed the chart type to candle stick.
Only two quarters represented.
The before past quarter represented was at zero percent But whole in value.
The current posted past quarter is at 7.25% positive!
Thanks AZ,
I have never doubted the accumulation of performance payments from the Preferred Funding assets.
You gave me the performance payment number back in 2017.
I used that to calculate the accumulation from BK to 2020.
Hence; ~2.1X for Series R(P’s).
I have posted about using ‘Linear Interpolation’ for this calculation.
Ron
IMO, The Fellow Travelers are Changing Course.
Reasons;
• Judge Collier(sp) DC Court ruled against BO twice for using the NWS to fund his projects. (Obama Care).
• The 8-0 jury decision.
BO and his HF friends are in need to buy in to F&F.
Ron
LIBOR Litigation Itself is Only an Interest Rate Adjustment.
Currency Manipulation…
The Bigger Story.
The litigation cleans up the Derivative market insurance payments.
Conservative Estimate;
8% of $500 Billion between F&F.
Ron
Nearly $500 Billion in Derivative Notables Insured RMBS.
The losses are covered!
According to the FDIC; “WMB securitized $2 Trillion in RMBS of which $500 Billion was sold to F&F.”
To protect themselves from the Community Reinvestment Act, the banks like WaMu rolled her load portfolio into securitized trusts as bonds. The Bonds are then insured by Derivative Contracts.
Most all of the ABS Market is insured by the Derivatives.
The Derivative contracts are required to cover the losses. It’s a Contract!
The Derivative contract writer’s are buying time for the settlement, but at what interest rate? Just do the math at WMI bankruptcies FJR of 1.95%? Adds up fast. It’s now very painful to be a contract writer!!!
JPM owned 57% of the 2008 Derivatives contracts of $83 Trillion.
Yes F&F are whole!
Ron
Yes 1977, Carter! BO Sued a Chicago Bank.
In the 90’s, And won.
It was all just as set up. The democrat family that owned the bank made a fortune as their shareholders lost everything.
That suit forced the Banks to make loans to unqualified applicants.
Ron
Do You Understand the CRA?
The Community Reinvestment Act forced the banks to make loans to unqualified applicants for home loans.
Don’t blame the banks.
Hint; JC/BO.
Ron
Split T, This is the Answer I Received.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174375835
The number I use for released UQ’s is 1.215 Billion common’s.
876M + ~900M(from Bonderman Preferreds) = 1.7 Billion commons before WMB seizure and WMI bankruptcy.
1.215/36 = .03375.
?
Ron
The DCR/Retained Earnings.
February MOR Is $20.7, Billion now worth ~$25 that is split 75/25% to satisfy Class 19’s claims.
Hence ~2.5X return.
The Series R will still see another ~2.1X in Performance Payments due.
I have posted the supporting documents.
Ron
The FDIC Has Really Sued on WMB’s Behalf.
If you signed the W-9 Release, you are Golden.
Ron
Thanks John. But The 36 Million shares are Gone.
Only Treasury shares are at COOP’s disposal.
The 36 million shares are done.
Plus the releasing UQ was 1,215 million shares.
Thanks for the response.
Ron
Prove Your Numbers!
I’m Calling Total BS.
Ron
Please Tell Us Where.04x Comes From?
The number is a total mystery to the rest of us.
I’m confident with real math.
Show me the math!
Show Me!
Currently I see the number as fictitious.
Please Prove me wrong?!?!
Ron
I’m Open for Discussion. LIBOR Numbers.
Please remember that LIBOR is an adjustment for losses due to the manipulation of the interest rates regarding the Derivative Market Meltdown.
A start point;
According to the FDIC; “WMB securitized $2 Trillion in RMBS of which $500 Billion was sold to F&F.”
For discussion: let’s say that the LIBOR manipulation is just a half of a precent. .5%.
Plus remember that the losses are covered by the derivative insurance contracts at no loss to the notes.
.5% plus the losses are paid back.
$1.500 Billion x .005 = $7.5 Billion losses to investors in these WMB insured Notes.
WMI/WMB was required to hold 15% minimum of their offerings.
$7.5 Billion x .15 = $1.125 Billion. This should be annual.
Please see PDF 3;
The action period is August 2005-> 2007 then to 2011
https://www.docketbird.com/court-documents/In-re-Libor-Based-Financial-Instruments-Antitrust-Litigation/Exhibit-3-Corrected-Plan-of-Distribution/nysd-1:2011-md-02262-04029-003
It’s basically all settled.
Upstream Issues is about criminal penalties.
Yes the FDIC is asking for ~$400 Billion regarding the seized banks losses.
WMI sued the FDIC for $307.2 Billion “WMB and it’s assets “.
The FDIC and JPM lost.
We read ‘$86 Billion for WMB’.
True statement for WMB alone.
Those estimates are only based on WMB’s revenue stream.
No reference to the assets of WMB like WMBfsb with ~$50 Billion in deposit’s and ~$50 Billion in cash, and other Assets.
I’m only discussed the RMBS. What about the rest of the ABS generated by Washington Mutual?
Ron
At This Point. The Numbers Don’t Work.
COOP would need 607.5 Billion new shares.
1,215,000,000/100,000x5,000,000
= 607.5 Billion shares
I double checked my math.
I had15 minutes.
Yes COOP needs to reconcile with legacy WMI commons for assets utilized.
Or ;
XXXX goes public by only distributions of shares to legacy WMI commons.
Class 19’s claims are already satisfied with the Retained Earnings held in Treasury Notes.
DOCUMENTED!
Ron
Where Did This Number Come From?
? (.0414252113836481) ?
Ron
Exhibit 3 - Corrected Plan of Distribution.
https://www.docketbird.com/court-documents/In-re-Libor-Based-Financial-Instruments-Antitrust-Litigation/Exhibit-3-Corrected-Plan-of-Distribution/nysd-1:2011-md-02262-04029-003
Filed today;
DECLARATION of Jeffrey L. Haberman in Opposition re: [4021] MOTION for Disbursement of Funds AFTER DETERMINATION OF REASONABLE FEES DUE, IF ANY. Document filed by David Klusendorf.
Expand the Attachments.
Ron
LG, You Don’t Know?
Pre Project Eclipse.
LG, Very Poorly Worded Question.
Yes the Reorganized Parent is fully intact.
• 363&365 Sales.
• Retained Earnings.
• WMB and it’s Assets claim against the FDIC.
• Other assets I have listed.
Only the Retained Earnings are split 75/25% as I have already proven.
Class 19’s claims satisfied in full with a bonus by the Equity Community of Class 22.
Ron
JPM is Bared from Buying Reorganized WMI.
COOP isn’t reorganized WMI.
Purposely separated to keep the legacy WMI holders apart from the NationStar merger stockholders. Not their assets.
NationStar merged with a newly created subsidiary of Reorganized WMI.
Project Eclipse was only part of the story.
Ron
363 and 365 Sales.
The 363 Sales worth around $25 Billion according to the Equity Community Presentation of which $20.78 Billion are reported in the February MOR.
365 Sales are regarding Leases.
WM Citation is more than Airplanes.
See both Plans 6&7 regarding HS Home Loan and WM Citation.
FN; ~”JPM will pay for notes of WMB to WMI”
Therefore JPM is currently paying for the leased property by WMB to WMI.
Payment of subs leased property to the parent Holding Company that owns the property.
Best understanding;
Currently HS Home Loan and WM Citation have been merged into WM 1031 Exchange.
Ron
The FDIC Didn’t Aquire Title to WMB Until 2012.
About three days before the implementation of the Plan.
Possession without Title is Theft!!
5AT.
WMI owned all of the property/assets of WMB and it’s Assets until WMI abandoned the Title to the FDIC as agreed upon.
So, therefore the $30 Billion JPM ‘found’ is WMI’s property because WMI still had the Title to WMB and it’s Assets that JPM needs to pay for.
Ron
For Those That Like to Read Documents.
Starts getting good at PDF 8;
https://www.cafanotices.com/Portals/0/Document%20Files/InterestRate/5c.%20Declaration%20of%20Seth%20Ard%20in%20re%20to%20Preliminary%20Approval.pdf?ver=qsjZGbdUhsTtQQSskOluUw%3D%3D&TSPD_101_R0=0827f50036ab2000b0e41242a851461ccad2ef64f7a0ab69bf6534481783283e4a422b9f5fc90f5d0897031074143000413babf747f05e80b6c538dcf7549382fa4642c7a532de538fab8f70690adb9ae43720c9b512a5b148854625ed585683
Great history of OTC settlements.
JPM not yet.
I searched;
Libor-Based Financial Instruments Antitrust Litigation seth ard
Ron
If JPM ‘Found’ $30 Billion, Then…
WMB’s book value is now $337.2 Billion for WMB and it’s Assets.
Or;
Just because JPM found something, doesn’t mean that it was lost!
Accumulation of interest payments on either number is big even at FJR of only 1.95% rate.
Time for the FDIC to start releasing now undisputed funds to reduce accumulation of interest payments.
The WMB Notes are backed by $26 Billion in assets which should cover the Covered Notes obligation of $14 Billion as claimed by the FDIC.
Therefore proving WMB’s 2008 solvency.
With WMB’s proven solvency, there is no justification for the FDIC to have a lien against the Retained Earnings of ~$25 Billion and/or any other assets of WMI.
Ron
Large Greed. WMB has $26 Billion in Backing Assets
The $14 Billion that is on the FDIC balance sheet for WMB is covered by $26 Billion in assets.
EURO Covered Notes.
We are just awaiting for JPM to take responsibility for the notes, with LIBOR adjustments for the ABS/CDS/RMBS/REIT’s for multiple WMI/WMB assets.
Ron
Keep Following the Case Numbers.
https://www.pacermonitor.com/public/case/2998527/Federal_Deposit_Insurance_Corporation_et_al_v_Bank_of_America_Corporation_et_al
See the defendants list.
Ron
Don’t Stop Know.
1:11-md-02262-NRB FDIC
Defendant’s, 5/51;
https://www.lendersliborsettlements.com/admin/api/connectedapps.cms.extensions/asset?id=dba1269c-4392-4208-a03c-5eeed08c17db&languageId=1033&inline=true
WMB;
“AMENDED STIPULATION AND PROTECTIVE ORDER CONCERNING CERTAIN HARD COPY RECORDS.regarding procedures to be followed that shall govern the handling of confidential material. So Ordered. (Signed by Judge Naomi Reice Buchwald on 6/22/2021) Filed In Associated Cases: 1:11-md-02262-NRB, 1:14-cv-01757-NRB, 1:18-cv-01540-NRB”
Document #3290,
https://www.docketbird.com/court-documents/In-re-Libor-Based-Financial-Instruments-Antitrust-Litigation/AMENDED-STIPULATION-AND-PROTECTIVE-ORDER-CONCERNING-CERTAIN-HARD-COPY-RECORDS-regarding-procedures-to-be-followed-that-shall-govern-the-handling-of-confidential-material-So-Ordered-Signed-by-Judge-Naomi-Reice-Buchwald-on-6-22-2021-Filed-In-Associated/nysd-1:2011-md-02262-03290
“... WMB Case 1:11-md-02262-NRB Document 3290 Filed 06/22/21 Page 1 of 7. aluised. 6/22/2021, 7:06:11 AM. -2-Boxes”) of Washington Mutual Bank (“WMB”) that JPMC ...”
The court documents never lie.
Ron