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Thanks Bop---You and McMahon's law firm are not messing around--And guess what this could lead to---blowing the lid off Pandora if you miscreants are not careful--Az could very much be right that the LT should be viewed thru very suspicious lenses--
You Are COMMANDED To.............fork them over...Too bad this didn't happen to Weil and JPM very early on--right j. demon....
Just stellar--This also aligns with AZ's real possibility of
"I will never be issued and LTI"
Yes--T1215--This points to how the SEC with the help of most likely the government had WMI under it's microscope...Killinger had to know what was likely to happen--And Bonderman also--before money was given to WMI for WMB...Certainly after JPM offered an anemic $8/share
Bonderman along with Killinger knew what was coming....and the ugliness was within JPM ...the money was always meant to go indirectly to shore up JPM...IMO
No--the Estate of the original debtor=WMI--The Reorg debtor=Wmih-originally had no debt and no current claim on the original estate--other than equity in WMIIC or it's children...DST's and SPE's do not belong to the Reorg.--only to the original estate in it's function as a beneficiary --The reorg debtor is a function of the BK only--The estate is just that--the estate of the now deceased debtor--WMI--The chain of ownership to the estate is unbroken.......
WMIIC assets belonged to the Estate--probably even the beneficial assets--Equity in WMIIC belongs to the REorg.
Who is really the successor in interest to what WMIIC had or had control over or was beneficiary of---the control went somewhere--and very possibly not into the LT's court...
As Board stated on BP--The original doc that the judge supposedly signed did NOT have "and" in it--Only the LT was successor in interest to WMI--Period--The signature apparently was hard to read and could have been signed by someone else--Board didn't leave anything out--the followup docs had "and" in them---whyyyyyyyy........
Bob--Oil and Gas is one thing --but Denke was really crazy excited about the gold and silver deposits in Washington State--different animal--and certainly something the crooks would want to get their grimy hands on--But as far as I can tell in the asset chart of WMI--the mineral rights are in their court
It's not Bray's motive it's KK&R's motive--You could have done a 1 for 4 or 5 and attracted the so called blocked out institutional investors--It's also not what NSM wants getting back to their pre-merger share count--It's what KK&R wants--We're watching a puppet show...
Same BS they say when they do a forward split---Our shares have gotten too expensive--We want to attract more investors--But overall forwards splits tend to be good for shareholders because if the company is growing share prices go up and your percentage multiplier is increased.--But in a reverse management uses the same BS but this time they are artificially creating a higher share price without providing any real share price increasing performance--Now your percentage increase is dramatically hindered by a 1 to 12 ratio--If their BS about trying to attract new investors was the real reason--why didn't they do a much smaller reverse to yield a price that would free up institutional investors--What this does is dramatically increase the effect of KK&R's shorting power as they move to increase control--Note they were always known as a leveraged buyout firm...This could turn out positive for us--but watch if the stock dramatically falls after the reverse--this is one of the big dangers of this phony maneuver--But if there are positive developments in the future--hopefully soon--then the price could escalate and at some point a forward split could be in the cards--But I have to admit there is and never has been any trust in these financial thugs--It will be very interesting to see what the vote numbers look like-If you have a tug of war --then not everybody is on KK&R's train--This BOD and CEO are only doing what the string pullers want--never liked puppets...They're always in the way of the real show going on behind the stage
Bob--that's a totally different apple--Alphabet Inc. is in a different sector=Tech-with a track record established over a long time--Different big shareholders--Again it's about percentages--a lot harder to manipulate a $1240 stock with a 865 market cap to get much in the way of trading gains with a reasonable risk- reward ratio from shorting--A much more visible stock and probably a Wall Street sweet heart at the moment. Probably a totally different convertible bond content if any at all...But even this one could be vulnerable to a big data mining fiasco or some other trauma that scares the crap out of advertisers--We on the other had have no real proven record and are a $1.40 stock with big players trying to gain control--We could fly like GOOG at some point--but that's ahead of us...In the Tech sector there are some companies with a short ratio as high as 20% but with us in the Finance sector with a previous ratio of 3.2%--really isn't too bad historically--As a comparison JPM's ratio is .68%--Goldmans is 1.35%-BAC is 1.4%-Wells Fargo .76%--Citigroup .77%--so we aren't too bad at 1.5% if those ratios hold...
Big money always deals in percentages--If this increase was in anticipation of the new share count then that percentage went down--That's what hedge funds do--Hedge--Their hedges are based on percentages--Not saying that negatives might not show their face in the future--I had my eye on the share sales of some of our illustrious old BOD's--But have dealt with many mergers in the past where the share count increases--and the shorting follows right along with it--If everything remained equal the new short count based on the old 3.2% should actually be 35.2 million short...Some hedges were also based on the B's which converted...
Shares short actually went down based on a percentage of the new share count--If these numbers stay relatively level--In round numbers previous shares short of 6.4 million on 200 million shares issued is about 3.2%--16.7 shares short on 1100 million issued is about 1.5%--Watch to see how the shorted share numbers print going forward....
It's certainly more than suspicious---Try using FireFox and select the ad blocking feature--So far don't get any popups in a separate window as I did with microsoft's IE---I also don't get any ads--just WMIH data graphs, etc.
I'm afraid the strain was more than he could bare.......
Preparing for the inevitable---Kerry knew it back then--well planned way in advance...Bonderman also...
Oh this is good---Real good--Donald I am investing billions in this country so it can move forward--Now you tell that FDIC to release all of WMI's assets and WMB's residuals so We can move forward--Deal---DEAL.......
Repulsive--Should read--Dimon's high leverage derivative gambling with depositor's money forces government to gift one of nation's oldest solvent banks to prevent collapse of JPM with help from myopic Sheila Bair of the FDIC--Kirsten you wouldn't know the truth if it stared you right through your glasses made by JPMC
Thanks gg4--can't PM--but will post when I see something that may help us understand what the game is...
Yes Split T--also #4 where shorters and market makers send signals to each other by posting odd lots or other slippery tipoffs--Have been aware of these snake angles for years--also aftermarket trading signals that set the game for the following trading day--This is the way naked shorters can maintain price suppression without tapping into the stock borrowing pool--short and buy back quickly back and forth without any long exposure--A true crime against the legitimate market that the SEC has done absolutely noting about.........
Naked Short Selling:Detection https://nakedshortreport.com/how-to-detect-short-trades
Actually Bob it hasn't been years---Edge=Schwab had HTB deleted at some point in '17--and then it came back on sometime around the change in the B's status announcement extending the repayment period and a cash dividend to a stock dividend and to change the conversion language from a minimum of $1.75 to $1.35--Then the push to move it down to it's triple bottom in the .60's--During '15 and '16 there was also a time when HTB was not visible--It's off now and maybe it will stay off this time
AZ-Truer words never said--The backbone of all this posturing was always about the protection of WMI's assets and their repatriation--As I have mentioned for years now--not about what one investor class can get out of the spoils--This was a carefully laid plan by Kerry and management--and most likely Bonderman--Unfortunately the plan was to get assets reorganized without equity, as expeditiously as possible--Weil was the debtors counsel and they tried to zero us out--this was also relished by JPM's management from the onset--But equity stood up and fought to be counted--There was even a time when Quinn was going to displace Weil when Weil's actions became all too apparent---Historically the problem has all to often been that management forgets who owns the company--not them---Shareholders own the company--In this case we reminded them of this Fact....
Seamus--A charter could accompany WMBank FA--not sure if this would be a commercial charter---But we may have always been a bank--just didn't know it...
And FA means Financial Association--always thought we would be a bank again
What does FA stand for in Washington Mutual Bank FA?
FA likely stands for Finance Association, as in the case Olmos v. Washington Mutual Financial Association et al. "FA" is also listed as an abbreviation for Finance Association on abbreviation.com. It's an abbreviation for a type of firm. FA likely stands for Finance Association, as in the case Olmos v. Washington Mutual Financial Association et al. "FA" is also listed as an abbreviation for Finance Association on abbreviation.com. It's an abbreviation for a type of firm.
Who is the registered agent for Washington Mutual Bank?
Answer . The registered agent for accepting service of legal paperwork changes from state to state with each corporation. In fact, that is the point, that if a State registers a company to do business, it must have a resident there who process can be served on, (receive official tax notices, etc.). Who it is isn't terribly important, as they act as a contact point and may not even have much to do with the company. Frequently it is handled by one of a number of large national legal type cos that provide the service. The information is always available at the Secretary of States office, if the co is registered to do business in the state. (even if it appears they are doing business there, they do not always have to be registered for business, based on a number of criteria). Also, be aware that most large Cos are actually a group of different legal entities...and the one(s) operating in a state (or even at a location), may be actually a different legal entity than the one elsewhere...you must serve the one that is actually whom you are taking action against. However, for most things, you'll probably be at least as successful getting attention by going to the Co website and finding the name/address of likely officers..like the General Counsel or CEO, etc.. These are generally available there or by linking to their annual stockholder reports and seeing who they list as Corporate Officers and Directors.
Yes--another possible avenue to cover--but the big hammer is the B's will convert to common as well as any warrants or the A's--several characters in this charade have shorting protection...
That's exactly right--a very common technique by institutions and funds is to "short against the box"---they already own the shares to cover if need be--especially the widely used maneuver by owners of convertibles to short the stock as a hedge and then chronically playing the volatility all the time knowing they can cover when the shares convert to common--always a big game against each other and retail...The big risk players are the ones naked short selling--which I think should be totally outlawed...
Of course you would and so would I--that way You can decide when you want to pay taxes and adjust your sales to fit your tax liability goals--Guess what--that's exactly what the big hedgies would want---rather than a big tax liability from a big cash splash---In the Estate-Reorg recombination--I would still like a small cash sweetner just to put a smile on after all these years--So lets get on with it.......Oh lots of cash infused into the Reorg. is a great place for it's maximum benefit going forward rather than going to the IRS...
Yes very masterful and calculated with all the T's crossed and all the i's dotted--Just curious how close this unfolding rebuild of WMI is relative to Kerry's original plan--Well guess it may not make a big difference as long as it's successful and we're included...
The audit was done by PJ Solomon for the EC and unfolded over quite awhile---They are an investment bank advisory firm that specializes in mergers-restructurings-Acquisitions--I believe they also have forensic accounting capability--They work for many financial entities including Equity Committees--They have a relation with Natixis a foreign financial firm. We spent a lot of money on them for the WMI audit--and I'm very sure it was very thorough---As I remember the EC had their findings sealed--which sort of surprised me at the time as I wanted the lid to be blown off--JPM and the FDIC know we know...
Examination by the EC was done by PJ Solomon--spent quite a bit of money on them as I remember...
Yes Gary was gagged and gagged---Then the criminals sent in hoards of phony shills inundating the old Yahoo with Denke one offs trying to marginalized what he revealed---He believed that the mineral rights alone were worth one Trillion--minus extraction costs I assume---I found his $8x3=$24 always very interesting--was he actually pointing to RICO---and the $8 interested me because it was just a little under what Bonderman's blend for his 240 million commons. IMO the Racketeer Influenced Corrupt Organization Act directly applied to JPM-Goldman-FDIC- the SEC-the government--and Paulson at a minimum--But I have always believed that Bonderman and the Chinese weren't in any way that naïve--The 7 Billion they funded WMI with was always meant to go to JPM--Can you believe the horror the Chinese would have felt if the entire world financial system collapsed---Question is why hasn't there been any repayment for sitting on the lid of Pandora's Box for so long---Well--One Jpm's balance sheet needed to be stabilized and that took time to unwind trillions in derivative exposure---Two--the collapse and massive loss of wealth through the real estate markets needed to be stabilized and regained through just about zero FED funds rates--resulting in very low bond yields while supporting equities to all time highs--Well why did the SN's and TPS stay idle during this protracted period--Because they are always interested in the yields from their investments--And the yields the are receiving from WMI investments are a lot better than they could and probably can get in todays markets--plus I think they liked the perceived security--However, this is about to change--rates have bottomed and as they rise other investment instruments are going to become very attractive to them--Thus it's time for repatriation of WMI's assets--but if WMIH is built into a major winner--they WILL HOLD....
Sounds like you're talking bout Gary Denke from Plano--What about those mineral rights--hiding the sausage again...
Bob --Have been down this alternative road before---Let's say your S4V is on the complete corporate level--and the Estate is combined with the Reorg. on that level---Companies all the time have cash holdings and short term investments that come across in a merger--Now let's think what your "Da Boyzzzz" would want to do--would they want to get the cash now sitting in the Estate and have to pay taxes on that distribution immediately or would they want it to transfer over to the Reorg.--Let's say there is 30B of accumulated interest and paid off mortgages--Would Da Boyzz want the cash now or would they want it sucked into the Reorg. where it can be utilized to it's fullest long term money earning potential---plus making the value of the Reorg. become monstrous and probably much less volatile once the S4V has gone thru---I think they would want the latter---What would you want--big taxes now or pay up when you decide to ease out of some of your stock in the Reorg. on your time table....
Easter and April Fools Day are on the same day this year--That must be like double witching day--and a good sign....
Of course I will sit back--Exactly all we could do for the last 10 years--unless one decided to sell or trade reorg. WMIH--However, nothing is just plain simple in this opaque financial entanglement of our bank--our holding company-the fdic-JPM-and the government---I am suggesting a possible alternate route for the Estate-Reorg-recombination that doesn't necessarily run cash thru the marker ratios-espec. if they have been called/eliminated via an entity merger---Your exchange event idea still is what must happen IMO since the estate and the reorg. must combine...
Guess my point is if the combo from an exchange event is structured as a merger between company like entities the cash may come with it regardless if it's from performance of existing pre-BK assets---When an entity is acquired by merger the cash and short term and long term investments and any debt comes with it---Not what I would prefer but it may be the recombination that Kerry planned for....
Agreed--cash can't be bought---But if the exchange is on the corporate level combing the Estate with the Reorg---Then the cash could come with that merger---Also if most of the cash has been generated by safe harbor I question if the LT will have anything to say about it--espec. if the BK has been closed--Lots of stuff will be happening quickly in succession as I see it....
Bob--Good job--I think you've got it--But the big question is will they use an exchange event as a way of combining the Estate with the Reorg--on the corporate level--another merger that would finally make sense of the NSM merger and dissolving the markers at the same time---Thus bringing all the cash with it from interest and mortgage pay downs/offs sitting in Estate ownership-- Or will the cash still be distributed to the marker ratios before the combination---That is the multi-million dollar question---Kerry would probably want the former---I want the latter....