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Huge block buys keep coming through:
.247 150K at 941:13
.247 250K at 941:28
.247 200K at 941.59
.247 250K at 943:00
.247 250K at 943:21
.247 267K at 943:56
.247 171K at 943:56
.247 100K at 944:01
WAMUQ .23
WAMKQ 2.30
WAHUQ 23.00
HELLO VOLUME eom
What hearing has been delayed "for months?" You don't know what you're talking about. We have a big hearing at the beginning of March.
Got my sister to buy in today! She wired some funds to Ameritrade to get some more and has to wait three days to add... haaaate that rule!
Many are speculating that THJMW allowed the delay of the ruling so that JPM/FDIC could get this settled without her shaking anything up. The lawyers made it sound as if a settlement deal was close prior to the formation of the equity committee. Its addition to the case may have complicated things. Handing the $4B over to WMI would change the current state of things and could possibly mess up settlement negotiations. Furthermore, the transfer of the $4B back to WMI would prove that the FDIC took over a solvent bank. This would pretty much prove fraudulent conveyance. It is speculated by many that the FDIC lawyer asked for this delay so that they could settle before the $4B is transferred and fraudulent conveyance is proven. Perhaps this is also why WMI's lawyers didn't really care that it got delayed. They know the reason. (ALL IMHO)
WAHUQ
WAMPQ
WAMKQ
Check out this page... Very useful info regarding potential return for preferred vs. common.
http://streetace.com/wamu.php
This is trading really weirdly...
140,000 already premarket at .22... NICE
I know premarket BidXAsk don't really matter but they've moved up to .219X.22. There are some premarket trades going in at .22 right now as well.
oops... someone accidentally typed in .2642 instead of .2462
almost at .21 USD in Frankfurt!
Repost of responses to that post:
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Posted by: Dragynn Date: Thursday, November 05, 2009 5:36:21 PM
In reply to: JohnnyWinter who wrote msg# 118542 Post # of 118926
Wrong again. You can't claim to know what Bonderman thinks or thought about anything.
The issue in front of THJC, has to do with damages to WMI from the unlawful seizure and sale of their subsidiary. If JPM owns the banks now, then they also own the debt. That is part of the essence of this whole case, this was not a transaction, it was a smash-and-grab, you can't seize a bank and then cherry-pick, taking all assets and deposits, and not assume the debt as well.
WMB in fact, owes WMI big time, which means JPM owes WMI big-time.
It's all laid out in the complaint, have you read it?
http://www.nwprogressive.org/vault/legal/MAR09WaMuLawsuit.pdf
There are substantial damages being asked for here, there are multiple suits, trademark infringement, torts, and all sorts of claims of even illegal activity by JPM, and since they didn't even bother to argue when accused of bribery in Alabama, and instead shelled out 700 million, I think that shows a tendency. And claims of more illegal activity are not at all baseless.
Bottom line: They should have settled when it might have been cheap, after the Alabama debacle, and with the public's mood regarding these types of matters, they could be made an example of.
And JPM's "fortress" balance sheet, will burn while we Wamuers fiddle.
Respond | No replies
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Posted by: diamondguru-one Date: Thursday, November 05, 2009 5:30:55 PM
In reply to: JohnnyWinter who wrote msg# 118542 Post # of 118926
Here's the deal.
WAMU'S BOOK VALUE $7.64 a share
RICO "TRIPLE DAMAGES" = $22.92
FDIC "STOLE" WAMU = FACT/and MAJOR "PROOF" too
JPM "BOUGHT" a so called "STOLEN VECHEL"
WAMU'S GREAT LEGAL "HAS" "ALL" "PROOF" and "DOCUMENTS" !!
Who's GOING to get SMACKED with the "HAMMER" ???
JPM ???
FDIC ????
"MY" conclusion is the "FDIC" takes the "RICO" smash !!
"MY" CONCLUSION is WAMU will settle for "2 TIMES VALUE"=$15.28
"MY" conclusion is "THE LAW" is "THE LAW" !!!
JPM/FDIC are about to feel the "WRATH"of the law !!!!!
"MY" conclusion is "WAMU WINS" !! "WAMU WINS" !!! watch
Hold tight WAMUERS !!! and don't get trigger happy to soon..lol
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Posted by: fsshon Date: Thursday, November 05, 2009 5:11:48 PM
In reply to: JohnnyWinter who wrote msg# 118542 Post # of 118926
That means that all the news articles and all the reposrters back in Sept 08 did not know that it was WMI for sale. I remember they were saying WMB WAMU was on the auction block, I don't remmeber anything about WMI. Enlighten me please!
Proof is in the pudding!
Nope... there is no call in for this court. Someone from Y! was gonna bring a recorder but that is forbidden so don't expect any audio. I'm sure we'll get some play-by-plays from attenders though.
I agree with you. Why would it be taking this long if she has already decided that she doesn't have enough information and that the $4B decision needs to go trial. She could've said that right away.
25.48 EOM
With a 20X settlement price, preferred shares are the better buy now. Does that mean the "leak" hasn't made it to them? LOL
You are distorting the facts. They stated they want a jury trial for the $4B turnover instead of summary judgment granting it. They're not saying they want a jury trial for the whole ordeal.
MUST READ: Bopfan posts re: today's hearing:
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Bop,
Can the FDIC sieze WMI's money if ruled in our favor? That comment shocked me from the FDIC's attorney.
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bopfan: No, no, and no. The $ is property of the estate and to interfere with it in any way would be a violation of a court order. The FDIC lawyer was making the emptiest threat I've ever heard used in litigation.
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marymbobh: Judge Walrath said she would take the matter under advisement and issue a ruling as soon as possible. Of course we don't know how the judge will rule but, if the judge were going to deny the motion outright, she probably would have just ruled from the bench and said 'Motion is Denied.' Since she did not do that, the outcome for the debtors is looking pretty good, as even JPM probably agrees with. I'm wondering if JPM might do something desperate like empty the accounts and give the money to the FDIC-Receiver and then leave WAMUQ with an empty sack if they get possession of the accounts. While that would be damaging for our hopes in the short run, in the long run it would help us by showing the lengths that JPM and the FDIC would go to conspire against WAMUQ and frustrate their estate and that would help us in DC Court and in the court of public opinion.
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bopfan:JPM CAN'T do that. The $ is property of the estate. Handing it to the FDIC would be violation of the automatic stay (so would the FDIC's receipt of the money; believe me, they wouldn't take it) and the sanctions would be fearsome, not to mention the penalties for violating the court's order to pay the $ to WMI.
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"They proved they are willing to play dirty and do whatever it takes to keep that money in JPMs hands, at one point even mumbling 'We can tell them not to give the money to WMI and allow them to hold onto it'."
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bopfan: I said months ago I wasn't impressed by the 'bankruptcy' lawyers chosen by the FDIC. I suspect the firm (DLA Piper) has a lot of lobbying business in Washington and that's how it got the FDIC's business. For the upteenth time, if I were the FDIC I would never have chosen these lawyers; they have no standing at the bankruptcy bar.
Anyway the dummy who said this needs to become acquianted with the Bankruptcy Code, because, as I wrote to Mary a few minutes ago, such an action would result in the FDIC being held in contempt of court (possibly including jail) and heavy sanctions. I suspect this idiot knew he did not have the power when he made the threat, he just couldn't help being nasty; people tend to do that when they're cornered.
She said she would rule "as soon as possible." I reckon it's possible to rule sooner than 90 days, don't you?
What break? The hearing is over. She is taking the arguments under advisement.
"That's bullshit miss!"
He is allowed more than 20... She said that WAMU gets 20 minutes for rebuttal because they used 40 minutes for the opening. Each party gets one hour.
He doesn't have 20 minutes... WAMU has 20 minutes for rebuttal since they used 40 for the opening.
He says... WAMU failed, and if they had 4 billion in cash in a deposit account... "There is something fundamentally wrong with that." So he just admitted WAMU should not have been seized since they had plenty of cash...
dude this guy sucks eom
Douchebag alert EOM
It's free... you only pay what it costs to call 712 area code from your phone.
"I feel I'll only need 10 minutes for you to decide to turnover." - WAMU lawyer
Not as much as WFC... down almost 5%
Everything is dropping... GS, WFC, BAC all hitting lows of day... and FAZ hitting highs.
100K blocks happen all the time... there was a 999K earlier and an 893K... THOSE were huge.
You tell us. You're the wizard. LOL eom
Look at this bullshit manipulation EOM
893K just bought at .205 EOM
Hello volume EOM
Someone just bought 1 million shares EOM
You have too much time on your hands.
LOL at the BONZ ad everywhere... then you check the quote and it is down almost 50%... what a ridiculous scam.
I have to agree with you... Put up or shut up... He is over there chiming about "inside info" but won't offer anything to legitimize his claims. nursejeff needs to put up or shut the hell up.