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And one more thing before we all are prosperous in this play:
And back at ya. Simple to me - Sully is the big dog - enjoy the reward, Argus.
Yep, Judgy Wudgy will see to that at the end of this week. Remarkable, eh? None of the bashers nor the greedy ones have no clue. Enjoy your reward for being here.
Dunno if all of the yakkers understand that the CTs are debt in bankruptcy and equity going forward. Debt has to be paid in one way or another.
So, what do you think Judgy Wudgy is doing, eh? Fiduciary responsibility. Simple stuff to me. See ya in six days.
Roll Tide.
Actually, Judgy Wudgy will rule according to both contract law and federal law. Nothing more than that.
And all four prospectuses dictate that the full monty plus is in order. Youse mugs figure out from there. I'm good.
Actually, step back and think a second. Go see Louie around the corner - you know - and drop a few on the over for tomorrow's game.
Actually, this is in the hands of Judgy Wudgy Sully. You have no clue on the goings on nor the dynamics of this play.
But you did provide your usual 6 year old dribble and spittle which wasn't missed, but it was entertaining.
Yes, Ma'am, It's what I researched and what I believe. No meme - lol.
I'll grant you that, Joyce, it's not simple, and nice music.
But there always the law, which I always relied on. All I know is this - Judgy Wudgy will either give us our reward for being here or kick us to the street.
We're good.
Thanks for the reply, Goodie. Like I said before - shut up and color - and no disrespect intended. Judgy Wudgy has this.
So, shovel snow or meet that good Loosiana Gentleman, Jacques Daniels.
Here's a reminder of what the law is and what Judgy Wudgy will enforce:
The Federal Law where we will be bounced:
http://www.mondaq.com/unitedstates/x/188842/Financial+Services/Treatment+Of+Trust+Preferred+Securities+Under+DoddFrank
And then the Contract Law which will be enforced - only one prospectus - seek the other three on your own:
http://www.sec.gov/Archives/edgar/data/806085/000104746905000357/a2149684z424b2.htm
(page 20 - towards the end of the document is the key)
The full monty plus - simple, eh?
Just over a week to go until the end of this nonsense. Full monty plus is what is the reward. And still don't give a damn what others say - irrelevant. Plan for the reward.
An old GI saying is 'shut up and color'.
Judgy Wudgy has the decision and it'll be in our favor.
It was always the full monty plus due to contract and federal law. And Judgy Wudgy will ensure that outcome.
A shame that some here won't get to reap the reward for one reason or another.
Two weeks to go - that's the focus. Anything else is bollocks.
Two weeks to go - give or take. Anything else is a Kabuki Dance. Judgy Wudgy is the focus and nothing more.
If you're greedy, by a lottery ticket.
Yes, Sir, got Georgia on my mind and puppy feet (a card game reference), leading the trail. One shot is all it takes - not to be greedy, no? Tee-Hee.
Looks like number 16 on the helmet. Roll Tide.
Oh, you mean my BMW 7-series fund that will pay cash? Ok - gotcha, Stosh.
It is a respectful reference to His Honor. The originator, Curly of The Three Stooges, used that phrase in the episode 'Disorder in the Court'. It's on You Tube.
It is a respectful reference to His Honor. The originator, Curly of The Three Stooges, used that phrase in the episode 'Disorder in the Court'. It's on You Tube.
The only thing that matters is what happens in Judgy Wudgy Sully's court and our CTs future.
Not some Drexel nonsense that happened years ago with a corrupt firm. Illogical and asinine analogy to compare the two completely different situations.
If you are here, you'll be rewarded due to contract and federal law. If not, too damn bad.
Might be ole Ralphie boy trying to lap up the honey. Ya never know.
If you are holding now, you are good. Things are heating up as your buddy is around once more, Stosh. Giggle-Giggle.
At least you are still here and the amount of shares doesn't matter as most folks decided that long ago. I am up as well and happy with that.
However, I believe this is winding down to a very profitable reward for all here. For three reasons - federal law, contract law and the jurisprudence system.
The first is that Dodd-Frank mandates that all CTs must be gone by 31 January - finally, a deadline. If you look at all the CTs prospectuses, there is a paragraph that spells out what the Trustee must do in cases like this (default) - only the full monty plus. And with Judgy Wudgy Sully, forget about the kabuki dance that the lawyers are playing. He will rule and follow the law doing it.
A fin is nice. Only thing now is to wait the 27 days. All the best.
Well, I think you know where you can stick that fin, Stosh - lol.
The Hammer has this one.
Don't you mean the money house, eh?
Well, told ya before that time is built in to these decisions due to lawyers. This time, add the end of year report the robber bastards have to sell to their shareholders - not only the payments to us but to WAMU as well.
But there is an end date - 31 January. The hammer drops.
Because there is no delay nor are coincidences with Sully. The hammer gave two dates - 31 December and 31 January. You can figure out what is coming. The reward for being here. Simple, really.
Happy New Year and Roll Tide. Giggle-Giggle.
Relax, this will play out to a profitable conclusion as Judgy Wudgy Sully has these buggers. Instead, focus on your family and the other Guy. Money is nice, but it isn't the be all and end all. The reward will come when it's time.
Relax - Judgy Wudgy Sully has this. Enjoy your family and the Reason for the Season.
Hey Goodie, thanks for the reply. I'm in the sin bin for a bit longer due to transgressions and I may be released this week from the one post a day limit. We'll see.
As you can tell, I have nothing but confidence in this play - the full monty plus. And the amount of shares does not matter - you are here for a reason as something had drawn you to this.
Sure enough, we could get kicked to the curb, given shares or whatever the powers that be may deem. But I think not. Not pumping - how can you on a BK stock, eh? There is just too much evidence and actions that dictate, to me, the full monty plus.
We'll find out soon enough, Mate. Merry Christmas.
You know, Viva, that's an interesting question. Put it this way. I loaded the boat in '09 and another buy later on. I have more than enough.
But I'll throw this back at you - how much is enough, eh? Nothing mean by me about it, but if you look at the actions by Judgy Wudgy Sully, the contract law (prospectuses) and the Federal law (Dodd-Frank) and a nice letter by Cotton, I would intelligently speculate that the full monty plus is coming soon.
Up to you my friend. I'll just wait as the Holidays are here and family matters more. We are good.
Relax - actions are lining up nicely with the court which will do the right thing. The full monty plus. And also will prove that balance sheets never mattered with the CTs - if one cared to research.
Here's why Judgy Wudgy Sully ruled as he did - plan by 31 December from the felonious JPM and Pappy as well as, if no plan, I'll handle it on 31 January per Dodd-Frank.
This is an except from the NQ prospectus - the other three also have the wording if you care to research - and what Sully focused on with the magic two words - fiduciary responsibility. This is on page 20, near the end of the document:
Indenture Events of Default
The indenture provides that the following are events of default relating to the junior subordinated debt securities:
•failure to pay required interest on any debt security of such series for 30 days;
•failure to pay principal or premium, if any, on any debt security of such series when due;
•failure to make any required scheduled installment payment for 30 days on debt securities of such series;
•failure to perform for 90 days after notice any other covenant in the relevant indenture other than a covenant included in the relevant indenture solely for the benefit of a series of debt securities other than such series;
•certain events of bankruptcy or insolvency, whether voluntary or not; and
•certain dissolutions of the related trust.
If any indenture event of default shall occur and be continuing, the property trustee, as the holder of the junior subordinated debt securities, will have the right to declare the principal of and the interest on the junior subordinated debt securities and any other amounts payable under the indenture to be immediately due and payable. An indenture event of default also constitutes a trust enforcement event. The holders of preferred securities in limited circumstances have the right to direct the property trustee to exercise its rights as the holder of the junior subordinated debt securities. See "Description of the Preferred Securities—Trust Enforcement Events" and "—Voting Rights."
Despite the foregoing, if a trust enforcement event has occurred and is continuing and such event is attributable to the failure of Lehman Brothers Holdings to pay interest or principal on the junior subordinated debt securities when such interest or principal is payable, Lehman Brothers Holdings acknowledges that, in such event, a holder of preferred securities may sue for payment. Lehman Brothers Holdings may not amend the indenture to remove this right to bring a direct action without the prior written consent of all of the holders of preferred securities.
http://www.sec.gov/Archives/edgar/data/806085/000104746905000357/a2149684z424b2.htm
With those contracts and those words, there is no way are the CTs going to get shares, a couple of bucks or any other amount except the full monty plus. In six weeks or less, we'll find out as Sully wants this to end in the right way.
The goings on the past month or so is right out of a movie script - and JPM is the felon (along with the WAMU theft).
Don Corleone said it best, "I'm just taking care of family business". Keep watching.
Here's a few reminders:
Two drop dead dates of 31 December and 31 January by the sledgehammer Judgy Wudgy Sully.
JPM closes the books in a few short weeks - tax loss now or later?
Always look across the pond - Pappy is bigger than most folks realize.
Balance sheets are as good as used toilet paper. There is a larger picture, if you choose to intelligently speculate.
Start here on what is fiduciary responsibility and don't believe everything you read on boards - research for yourself:
http://legal-dictionary.thefreedictionary.com/fiduciary+duty
Indeed I did, RL. Sorry for the late response but I am in the sin bin on one post per day.
Both Pappy and JPM are on the hook, place there by Judgy Wudgy Sully, on coming up with a plan by 31 December. So your premise concerning a dual responsible role is correct.
The silence to me is golden. And, we have concrete dates on what might/will happen. 31 January is the other date when Sully drops the hammer on the both of them. It's not guesswork.
A few posits on this - JPM closes the books on 31 December. Take a loss now. And only the full monty plus. Or if moving forward with shares, which could be in negotiation as a prospectus is a contract and can be renegotiated in some instances, FV of the newly issued CT shares had better be the full monty plus.
Either way, we are good.
We may be seeing the final countdown to the reward. What's the old adage - volume precedes price?
Keep an eye on the dockets and slowly but surely, some feeler articles are hitting some financial papers and sites.
Sorry to say that there will be a lot of rich folks here.