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Simple fact - known and documented since 2016
The lawsuit ended 2016 (!) with a payment to JPM (!)
https://www.reuters.com/article/idUSKCN10U2E4/
But who cares about actally existing reality, right?
This is just a part of a 16 year money-is-around-the-corner string along where billions are ALWAYS just around the corner.
LIBOR will come and go without money for Escrows - and you will be presented with new theories or (better still) a rehash of some old ones.
If you think that JPM illegally sold off all these WMI assets since 2008 why haven’t you spoken to a lawyer over the last 16 years?
They showed assets at book value in the … (spoiler alert!) … balance sheet.
They did not remove billions of assets from the balance sheet, thereby hurting their shareholders who of course would have lost out massively.
The K-Mart situation did NOT involve billions of assets which had been removed from the balance sheet and being hidden (over many years) from the rightful owners, ie the shareholders.
There is no SINGLE precedent for this and pretending otherwise makes no difference.
It’s not complicated
There is not a SINGLE example of a company somehow hiding billions of assets from its own shareholders (!) for many years and then somehow paying out these assets years later to investors.
The simple reason for this is that this would be fraud for which management would potentially go to jail.
Wasn’t April meant to be the month for that?
But there will be another April in 2025, 2026 and so on.
So JPM will just say that it needs to pay a penalty larger than its common share capital but that it has hidden this money somewhere under a different name?
So the 400B is not going to former WMI shareholders, its just being paid by JPM to JPM?
JPM shareholders seem to have no idea that their shares are about to become worthless as a result of the bank getting wiped out.
Why do you think that is?
400B is way more than JPM‘s entire common shareholder equity of 258B - so what you‘re saying is that JPM would get wiped out as a bank after paying such a penalty.
https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/quarterly-earnings/2024/1st-quarter/6678012b-9242-492b-acd0-1473eabade3c.pdf
AZ has read so many documents that he alone knows facts about COOP (like the mysteriously unnamed “XXXX is the parent of COOP”) which even COOP‘s own management doesn’t know.
You will contact COOP so that they explain the content of a 4 year old filing to you regarding the distribution of some COOP shares by the LT?
Good luck
Latest 2024 Proxy Statement from COOP shows (again) in a legally binding document that AZ‘s claimed secret parent “XXXX“ simply does not exist. Just like in all prior years since he came up with this claim.
And just like in all prior years this will of course be completely ignored.
https://s1.q4cdn.com/275823140/files/doc_financials/2024/sr/2024-proxy-statement-bookmarked.pdf
You “live in USA” and believe that you can send the DOJ and the Police to help you with people who have a different opinion than you?
Best of luck…
If these hundreds of billions of off balance sheet assets really existed and will eventually return to Escrow holders - why were WMI shares trading for almost nothing after the bankruptcy?
If these assets were in fact way more valuable than WMI ever was in its pre 2008 heyday why didn’t the institutional investors pay big dollar for the WMI shares which would give them access to all these riches - instead of leaving them to trade at single pennies?
Would you mind going back to your hundreds of debunked nonsense “theories” and tell us what happened to them?
Many thanks!
I‘m not the one making up future payments from JPM for the WMB acquisition in 2008
This is not complicated. You could literally just write an email to JPM’s IR team and ask them about the purchase price payment for WMB.
But of course you won’t, right?
Once it is clear that no money is coming to Escrows in 2024 the happy gullible audience will readily move on to new dates in 2025, 2026 and beyond, all based on exactly the same theories like in the past 16 years.
Of course it has nothing to do with Escrows - anyone with basic reading comprehension skills can see that.
Just like BofA bonds, JPM pref buy-backs or Novo Nordisk dividends have nothing to do with Escrows.
But who cares - it’s just about creating another failed theory for a grateful audience.
None of this has anything to do with Escrows, as it states very clearly in the DTCC document.
But who cares about easily verifiable facts when you can make up another “theory” and deadline?
Just have a look at AZ‘s past predictions over the last several years - its really not complicated.
Just another of RD’s many failed predictions
Surprisingly enough the DTCC’s amended settlement procedure because of the Good Friday holiday had nothing to do with Escrows.
Who could have thought, right?
Sure, just another 5 weeks until new theories and new deadlines.
Rinse and repeat.
So, JPM is trading at new all time highs BUT will have to make a payment of 200B in the next 10 days which will wipe out half of its shareholder equity, right?
JPM acquired all of WMB’s assets, including its HQ etc
https://www.sec.gov/Archives/edgar/data/19617/000119312508201638/dex992.htm
What’s the value for people to make up stories like “COOP doesn’t own all of XOME” if it literally takes minutes to find out that this all just meaningless nonsense?
Only takes a few minutes to find out from COOP that no such parent of COOP exists.
But that doesn’t count of course - why let facts disturb a nice story?
When was this statement made, 12 or 14 years ago?
What happened to the equity committee or the neutral party investigation since?
So what you‘re saying is that COOP‘s management is intentionally LYING in their detailed officially SEC filings like the annual Proxy Statement etc, thereby risking criminal liability and prosecution for fraud?
Whereas you (anonymous writer on a message board) are telling the truth?
Of course - it’s a distribution only for you as usual.
Let’s just revisit this on 5/1
Of course - it’s a distribution only for you as usual.
Let’s just revisit this on 5/1
... the second distribution has already now been scheduled for April 2024' ...
So we wait max 6 weeks and then the distribution happens, right?
Let’s review this statement on 5/1 then
Facts don’t impress the wishful thinking crowd.
Of course in reality WMIIC was dissolved years ago after all of its assets were distributed under the POR7 - but who cares about reality?
So the entire investor base of JPM is totally overlooking the upcoming payment of hundreds of billions of LIBOR fines? Right?
Meanwhile in the actually existing real world JPM‘s share price reached another all time high this week, showing absolutely zero sign of investors expecting multi hundred billion LIBOR fines to be paid by the bank in the next four weeks.
Yep - he is so special that the LT is making Escrow payments only to him without informing or making payments to anyone else but don’t mind that he is telling everyone on a message board that he got the special VIP treatment from the LT.
Don’t forget that AZ is already receiving distributions on his Escrows.
Of course he is the only one receiving these semiannual payouts because he knows the right people