Waiting
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Showing $27.05 PPS in my TDA account already??
YES! Congratulations All!!
I will certainly be keeping my eyes on it! Of course, nothing new there. LOL
Hi Zeke!! Great to see you!! -Jest
Looks like they have PLENTY of assets that they can sell to cover.
Jest
Thanks for this post boarddork! Jest
Useful info on DST for the laypeople:
https://en.wikipedia.org/wiki/Delaware_statutory_trust
Jest
Yesssss! I like it!!! LOL
"..make tax payers whole"?
The only way that segment makes sense if the entirety of the NWS is returned (ALL OF IT), then a proper repayment comparable to what the banks had to pay would make sense. $187bn and not a peanut more.
Last time I checked, there was no interest paid by the elite banks on their TARP funds received and paid back. And, no, I don't care about whether they "needed" them or not.
Jest
That's really quite impressive!!
I wish I had the powder to double my position.
Jest
Please take this somewhere else.
Well that looks greeaat!! LOL
Up $2.13 on 50k+ shares.
Jest
Thank you to those who currently serve, those who have served in the past, and those who gave everything in defense of our great nation and the freedom it provides.
There's the crux of it!! LOL Thanks hotmeat.
You answered the last question in my last post. Is there a possible payment to RETAILER side holders of Class 19.
Now if we can just close this out and see what is behind door number 1!!!!
Thanks
Jest
Thanks AZ! Actually, I believe it did, in conjunction with some other information about ABS-Certs and payments directly to them for their investment. Thanks again for taking the time to walk through the issues.
So certified investors have always been getting their payment/payback,... since inception, with or without BK. I appreciate that is a matter of course.
For me, and many non-accredited retail investors, it is the potential for a dividend payment that drove the reason for investing in Class 19s. Is there a scenario where dividend "proceeds" are being set aside for future payment, or is that a pipe dream IYO?
Jest
I appreciate what you are saying here... but I cannot fathom a scenario where POR7 would delineate for individual ABS-Certs differently under that single class. If they had to, because of these differing levels of participation... they should have had to separate the classes as Class 19A and Class 19B. This would at least provided for different treatment that you are suggesting.
I know I am out of my range and appreciate your patience (and many others since I am offering thanks), but this is total BS if I am partitioned out of my share simply because I did not acquire the share AS an accredited investor.
Jest
This accredited investor concept hurts my brain... but, I do want to ask something from a layperson's POV.
If Class 19 has now been separated into "accredited" and "non-accredited" sections, why would this be allowed under BK law since we are "of the same class" being treated differently.
I AM a Class 19 holder. Period. Just like any fancy accredited investor.
Wasn't this a fundamental argument for Nate Thoma during his epic argument in court?
Jest
LOLOL. That's an awesome reference!
Directly from the PQ prospectus (when it "was trading"):
On March 7, 2006, Washington Mutual Preferred Funding (Cayman) I Ltd. issued $750,000,000 of 7.25% Perpetual Non-cumulative Preferred Securities and Washington Mutual Preferred Funding Trust I issued $1,250,000,000 of Fixed-to-Floating Rate Perpetual Non-cumulative Trust Securities. On December 6, 2006, Washington Mutual Preferred Funding Trust II issued $500,000,000 of Fixed-to-Floating Rate Perpetual Non-cumulative Trust Securities. On May 21, 2007, Washington Mutual Preferred Funding Trust III issued $500,000,000 of Fixed-to-Floating Rate Perpetual Non-cumulative Trust Securities. On October 18, 2007, Washington Mutual Preferred Funding Trust IV issued $1,000,000,000 of Fixed-to-Floating Rate Perpetual Non-cumulative Trust Securities. These securities are collectively referred to herein as “Preferred and Trust Securities.” Payments to investors in respect of the Preferred and Trust Securities are funded by distributions on certain series of securities issued by Washington Mutual Preferred Funding LLC, one of our indirect subsidiaries, with similar terms to the relevant series of Preferred and Trust Securities, which we refer to as the “LLC Preferred Securities.”
RE Underwriters
For those not up to speed on why Bop/Alice are taking action.
Remember to read the PINNED Dmdnd post at the top suggesting a "quadruple dip" by underwriters.
Jest
Great to see you on the board StrikeEagle!!
Best wishes to you as well!
Look forward to a reunion of the BK Crew in Wilmington once this has completed!
Jest
Yep. They're all over the place.
And just to remind everyone, this was Robert Johnson of Akin Gump representing the Committee of Unsecured Creditors.
You a Technical Analysis supporter? Resistance at $20 becomes support. Lets see if we can hold it. Jest
A 34% bump in a few weeks?? Correct me if I am wrong, but isn't that expectation a little high?
I would love to see a constant (LOL) 34% increase every 4 months or so. That would be AWESOME!!!!
I like your version better though...!
Jest
Holy moly!!!
Almost at a $1B Market Cap. That is amazing!
+/-50 million O/S
Jest
Heh Heh Heh....
Jest
Deja vu.
Thank you mordi for the fast reply. MARTA has always been a "?" for me and others.
I guess what I think we all need to know is: If the MARTA claim DID come back to life from limbo, would THJMW be forced to hear it? I remember reading the court language that 'left the door open' for submitting claim at a later time. Oddly, I also remember seeing MARTA on the KCCLLC claims list (back in the day their claim was shown two times). This would have meant that it was filed, and then removed, only to be re-filed. Messy.
Someone on this forum mentioned MARTA was deemed fraudulent. I would love to know that as a factual event. That would be confirmation.
We(I) don't have the time to wait for another new chapter of this already exhaustingly long book.
Best to all longs!
Jest
Where are the theories about MARTA? Is this a claim which is in "limbo" or was it removed indefinitely?
It didn't get much attention and it deserves some now more then ever l, especially if it comes out of limbo as an unresolved claim somehow. The mechanics of this are beyond me.
Jest
MOTION TO ABANDON WMI'S EQUITY INTERESTS IN WMB
Receivership would be a debacle.
LOLOL Yep.
Yep. HODL. Els is pushing this one to new highs! Good luck all!
Jest
How could we see if COOP has already utilized tax attributes to fund purchases/mergers?
Jest
Everyone Read Split Ts Post....especially if you have been telling the board that the examiner said this (Hochberg) or Brian Rosen said the comments regarding the "retained assets".
Jest
The POINT is that warrants AREN'T "useless" if we aren't allowed to pay our debt.
GOV is preventing us from paying debt by designating the assets taken in the Net Worth Sweep as "dividends". Its outright FRAUD if this stands IMO.
Jest