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And there is just one more thing, S2, before I baton down the hatches with this storm close by. I read today that Black and Decker will build a plant in the good ole USA. And the new Sheriff never said a word to them. Precedence has been set with Carrier, Ford, Toyota, Apple and who knows else.
Relating that to our situation and my post yesterday. Any agency in the government that deals with finance - the Fed, FDIC, Commerce - you name it - has been warned. I expect both of the legacy plays to end this year and a reward for all who invested.
In the meantime, have a few Sinatras and be shovel ready - lol.
Here's a question that maybe some of the more educated folks can assist me with. Who, in '08, did not get TARP assistance? And who was in charge of giving that assistance - in part or giving advice as to who would receive it?
http://www.thenewamerican.com/economy/economics/item/25064- audit-the-fed-re-introduced-with-best-prospects-ever
Looks like the new Sheriff in town knows where some bodies are buried. And I would not be surprised that things are wrapping up quickly with Pappy as well as WAMU. For all who are here, at least, a welcomed end to this fiasco and a well earned reward for patience. And so sad for that poor schlemiel who has no shares but posts here anyway. Oi Vey.
In the meantime, have a few Sinatras, and start shoveling - either snow or money because both are coming.
OT: Hey, S2. The new fella was already on the staff as an offensive analyst and coached the QBs. Good move, as it is all about the "Process". Just reloading. It'll be a good rematch.
And you know, I'm not a Kiffin fan, either. Here's just a smarmy person and the door hit him hard going out. And I do enjoy when the Vols and Tide get together at 1430 on a Saturday afternoon - loads of tradition there and I enjoy that. As long as they don't play Rocky Top too much - lol.
In the meantime, enjoy a few Sinatras - the reward is coming - and have a good New Year.
Yes, indeed, that there are more Richard Craniums out there than should be. Not really, though, and are few in numbers - they just make a lot of noise and should be discounted.
Besides, the Sarge is the more important thing at the moment. Ya done the right thing, Stosh. Talk later about that one.
But still, stick that fin up yer dupa - full monty plus.
In the meantime, have a few Sinatras and belly up to some pasta. And it's almost mudbug season - gotta love it:
I would not worry about fixing stupid - ya can't, Stosh. Just laugh.
In the meantime, have a few Sinatras and here's one I saw on the telly - great back then and now. Happy New Year.
Well, I must say that your links have nothing to do with the CTs or Pappy. Sad your research is.
In addition, this response is to give you an extra dime so you do not become homeless. It is the Christmas season after all. Hope you do get out of the basement one day.
In the meantime, save a few dimes and get yerself a Sinatra - it tastes good, little one. It's what people of wealth enjoy.
Hey brother, can you spare a dime, eh? Small change with that bum. Take a look at the money people the new Sheriff is putting in - Commerce, Treasury, Labor etc.... and see where they were in '08/'09. Won't take long to research. Money folks have very long memories.
These CTs, at least for me, will get the full monty plus. And adding Judgy Wudgy to the mix sealed the deal. That gotdamn prospectus guarantee raised its ugly head once more. Silence is golden, Stosh. More behind the curtain, but I believe things are progressing as they should. A prior post from the_doctor stated that Marsal said that the CTs would be paid - I remember that one, but neglected to save it. But no matter. The lines are drawn in each camp. So stick yer fin up yer dupa - lol.
In the meantime, have a few Sinatras and start shoveling.
And send this one to yer new BFF:
I'm thinking that we'll have to go to the Commission to settle this one - lol.
But ya know, that schmedrick may have a point on contacting folks - misguided most times - but has a point. Lemme preach on it.
A nicely worded e-mail to folks in the money positions in the new administration - think back on the TARP nonsense and remember what agencies were involved. Just a thought in progress as there are more important things to do this time of year. Actions on this play come later - family and friends take priority.
In the meantime, have a few Sinatras and, sorry, no more Tuscany pasta, hot bread or olive oil left. Too late.
Hey Stosh, what's with all this badda-boop, badda-beep, badda bop coming out of yer yap,eh? lol And by the way, cotton is king in these parts.
I saw that some schmedrick wants to contact folks about the future of Pappy and so forth. Why not wait until 21 January and get the Sheriff - he does that Twitter thingie. But, look at the folks he's putting in. A word in their ear would not hurt as we wait for the full monty plus.
In the meantime, have a few Sinatras and belly up to some Tuscany pasta with hot bread and olive oil dip.
It seems to me, at least, that a lot of schlubs did not read the entire prospectus for all four of the CTs. There is a codicil, in all four, to cover this situation. Nothing less than the full monty plus for the shareholders. Look it up as I stopped spoon feeding last century.
The only thing is when and time is short as a new sheriff is in town. Politics boys and girls, always politics.
In the meantime, have a few Sinatras and belly up to some homemade chicken soup. It's cold out there.
The Olympia is the one worth saving. Loads of history there.
Well, if Camden is a problem fer ya, then Slapout, Alabama is available. Good land for crops, nice stores and nice people.
Ya know, Stosh, this play is going to make all who are here wealthy beyond their wildest dreams. Just like I told that fella the other day - think macro and not micro.
Pappy will be back - I gotdamn guarantee it. Full monty plus.
In the meantime, have a few Sinatras and get the Sergeant's wish list fulfilled - six of this, six of that - lol. Here's one for the Kid and to his success:
I'm telling ya, Stosh. Things are looking good for the legacy plays - including OBS. Never mind the putzes, schlubs and pajama boys and just look at the alpha male in my White House. Look at the appointments to the money positions. They know what happened. Full monty plus and based on your holdings in OBS, you could buy Camden, New Jersey - for cash...and at a discount - lol.
In the meantime, have a few Sinatras and tune in the Leafs.
It's a shame the round man didn't close all the lanes and then he would deserve a pardon. Then again, I hear from Stosh on a weekly basis and only those born on the East Coast can understand the logic and vernacular - plenty of vernacular - lol.
But I see that yer back from the Far East and I believe that this country is going to take off for the better. As far as the three trilogy plays go, I got a second bite of the FnF apple and it tastes good to go along with the first one a few years back.
The second one, WAMU, has a deadline of the end of the year. Or else, shorting is allowed by the major hedgie who invested 600M. Things will happen soon.
And Pappy, well, I agree that LAMCO will play a role. However, I do not have any OBS dog in that hunt, which has a built in shareholder base so why not reward them. My boat has only the four flavors of CTs. And there's that pesky contract called a prospectus. Full monty plus.
But I am more optimistic about the new Sheriff. From what I see, he is building a team that wants the country to succeed. And one of the main focuses is on business - which means shareholders - which means money.
In the meantime, have a few Sinatras and belly up to the table for some babybacks - keep yer elbows out as there are thieves everywhere.
This is going to go on for a while longer, Stosh - your call on next year I agree with - but a few things to look at in the coming weeks when the present occupant of the white hut has departed.
Look at the schmoes that the new Sheriff has appointed to money positions. Good moves and the Sheriff requires loyalty or else you are fired. Look at fat boy Christie.
The new Sheriff has buildings and property all over the world. Do not think for a minute that he did not talk with Pappy about financing and such over the years. He knows what is going on with this play. As well as the other legacy plays. Just sayin'.
The lowering of the tax rate is key - may take a year or so - but the dosh I made when Reagan did that... And it'll be YUGE!!!
At the end of the day, we are both in profit in this play. Even though I bought those 3k shares from that failed Missouri banker - what was his name, eh? doesn't matter - it's gonna be great for all who are here. Full monty plus and stick that fin in yer backside - lol.
In the meantime, have a few Sinatras and throw some yardbird on the grill.
Sure thing, Joe. I'll answer your questions as a very good friend of mine called me and said you responded. My friend knows that I have you on ignore. So, I'll answer your questions and then place you back on ignore.
The answer is very simple, Joe. What three major firms are still in BK since 2008? And then, why has it taken so long for them to get out of it? Politics.
The first one, FnF, and you know well, think Google board and other places where you post. Those that played it right, rode to double figures and pocketed all that moolah. And today, it's over four bucks - up from a buck and change before Thanksgiving. What gives, eh? The new sheriff in town.
WAMU is the second and happenings and deals made in the past two years indicate to me that good things are coming. But if you are not in that, don't worry about it. Again, blame it on the new sheriff in town.
The last is Pappy. That's on the backburner for me, as too little info has been forthcoming from across the pond and in America. But no worries - the boatload awaits the reward when the time comes. Remember, there is a new sheriff in town.
There is a common theme here, Joe, and I'm sure you are smart enough to see it. Macro not micro.
In the meantime, have a few Sinatras and have a very Merry Christmas, Joe, to you and your family.
I hear ya, Stosh. Good vibes while we wait on the trilogy to hit - one, once more. Unfortunately, time isn't on the side of the greedy as there is no timetable to speculate nor predict when anything will happen.
Look at the new sheriff's financial appointees, when made. That'll give a clue on where the three are going. And another clue - why do you think Pappy is mainly overseas? Taxes. Hence the quietness and wait and see scenario. Just sayin'.
Until then, have a few Sinatras, T-bone night tonight and the hell with your Giants - lol.
Geesh, Stosh, sounds like you are corner begging. Reminds me of the pirate captain whose crew abandoned him. When asked where are all of your buccaneers went, he replied under me bucken hat. Just sayin.
Things are looking nice for all three trilogy plays. More cha ching from the first, the second has a deadline of end of the year and this one, although still silent, needs some more time. But remember, there is a new sheriff in town.
In the meantime, have a few Sinatras and enjoy what you value most.
This is gonna get good - not real quick, but a very profitable conclusion for all who are here. This is more of a check back every few weeks investment and try to get a life.
Remember, Pappy was, and is, heavily overseas. Why? Because of the tax rates to firms. Don't blame them. And no TARP, either. Why? Politics. But a new sheriff just arrived. Good stuff all around for Pappy.
In the meantime, have a few Sinatras and throw them baby backs on the grill.
This one has always been a tough one to read, JW, for one simple fact - Pappy is international. The first two legacy plays are here in the US and easily researched. Made money on the first - waiting on the second. As I said before, across the pond info is held close to the vest, unless a good or bad thing happens.
As always, my take is that the CTs get the full monty plus. That gotdamn perspectus. It's very quiet, JW, for the last two legacy plays. And the politics, of course. We're good here.
By the way, I believe the original fat lady was from a German opera and went by the name of Brunnhilde long ago. German and Austria operas are always good to listen to. Though Italian is just as good as well.
Here's a more modern 'fat lady sings':
Here's blast from the past in case any forgot. Which companies did not get any TARP payments and went into bankruptcy?
Today, what is crawling on the business wires? Mergers. Tobacco firms, media firms and many more. Why, eh?
Politics. Look at who benefits and why firms are doing what they are doing. Why is Pappy like a bump on a log for the past several years? And why no leak from them on what is truly going on? As big a firm as they were and still are, one would think a whistleblower or something would hit the press. But nothing.
Think about it. If you played the first one right, you got a boat. The second is coming soon. This one - think about it. Always from a political perspective.
In the meantime, have a few Sinatras in between some nice ribs and all the other fixins that go.
I find it funny, Stox, that some of the folks were looking down rabbit holes that did not exist in the last two legacy plays. I'm just glad the good ones had the foresight and foreskin to play them all or, if not, to be here. The reward is soon to come.
In the meantime, relax and have a Sinatra.
I'm still confident, Stox, that Pappy will fulfil the prospectuses mandate of the full monty plus. The waiting and the lack of information have many here bewildered and, quite frankly, pissed off. The money arriving on the second play is, well, if the thieves don't get it, is astronomical. And for Pappy, just the full monty plus, please. Remember, this is all about politics. So, for the old gits, put those shares in a foundation for the next generation and relax. This is fun.
In the meantime, a few Sinatras does the trick and some nice lobster on the Barbie.
Hey JW. I saw that on the dockets as well as the business outlets. DB is in bad shape at the moment - too many butt whippings in recent months. I'm sure some can expand on that thought.
But the buying does hold serve as to what I have been saying for quite a while - look across the pond. Pappy was stronger there than in America. And DB made the move and good for them. Need a strong DB, not only for Germany, but for world finance in general. Always think political from now on, JW. I don't like it, but that's what it has become.
I'm more excited about the second legacy play which appears to be winding down to many folk's benefit and the wealth it will bring for a long time. As far as Pappy, the piecemeal of information is frustrating but I still hold onto the full monty plus. Nuff said.
In the meantime, have a few Sinatras and a nice bowl of pasta and meatballs - eaten with a fork and spoon, of course - lol.
Here's another thing, Argus. Lemme preach on it. Many have bought at 2-3 cents on this play - myself, Jersey, and my friend, the Philly jew lawyer whom I went to skool with. She is worth more than that smegma onco could ever dream of.
Posit this - NQ ended at .17 today. Times a boatload. Plus the other three. Why do we hold, eh? The WAMU play ends first, then us. Boyo, the Guinness is on me all night long.
In the meantime, have a few Sinatras, put a few steaks on the barbie and relax.
Keep watching JPM and DB - the trustees in both plays. They are intertwined with WAMU. And, DB made a nice comeback in recent days. Wonder why, eh? I'm thinking Pappy will be soon after WAMU gets sorted and it's closed with many wealthy folks on the receiving end. No doubt there. End of fiscal year and end of quarter today. Just saying. Never listen to the pajama boys - look at actions the big boys take. Those buggers take their time in forking out what should be done right. Enjoy the reward, Argus.
In the meantime, have a few Sinatras and relax. And, I have my eye on a few areas that are perfect for mule raising. Good money maker.
Keep watching JPM and DB - the trustees in both plays. They are intertwined with WAMU. And, DB made a nice comeback in recent days. Wonder why, eh? I'm thinking Pappy will be soon after WAMU gets sorted and it's closed with many wealthy folks on the receiving end. No doubt there. End of fiscal year and end of quarter today. Just saying. Never listen to the pajama boys - look at actions the big boys take. Those buggers take their time in forking out what should be done right. Enjoy the reward, Argus.
In the meantime, have a few Sinatras and relax. And, I have my eye on a few areas that are perfect for mule raising. Good money maker.
I would suggest to you that you obtain the services of a good Philly jew lawyer. Multiple opportunities in all of the counties in the Ole Sod to have a B&B and serve an Irish full. Fer chrisakes man, with the dosh that is coming, take a look. And since you are half Mick, and oh, ugly as well - lol - you can easily become a resident and a citizen. They call it the Grand Mum Clause.
If ya open up a B&B or a pub, I would highly recommend that you include this in your background music:
Sheesh, Argus, I'm just a dumb Mick and Stosh is a dumb Pollock. Go figure - yet, we are here with boatloads. As are you and good on ya.
A few things before the Tide rolls again. Don't take yer eyes off the JPM and DB thieving goings on. I mentioned the 26th - as the power of attorney for JPM in the WAMU play will expire. Why is that important? Well, when a bank goes BK, the court appoints a surrogate - through a POA - to oversee the winding down of the firm. Things like mortgage payments, deposits, brick and mortar, employees, etc... You get the drift. Usually, that POA lasts a year, maybe two, depending on the complexity of the BK. In WAMU's case, JPM is approaching eight years as a POA. Never heard of that and unprecedented. But it tells me one thing - very big money is coming to those who hold WAMU.
And the tie between JPM, DB and Pappy is concerned, big money is coming to all those who hold Pappy. Remember, they are Trustees, tied together like a hand in a glove and don't fergit the two magic words. You can figure out the rest. Glad you had the foresight and foreskin to play this one, Argus.
Just look at actions from those two sonsofbitches in the next couple of weeks. And, by the way, the 26th is the eight year anniversary of the WAMU theft. Fancy that. It's all related.
In the meantime, enjoy family, a good steak, multiple Sinatras and the football.
Did you ever go down to the local newsie and say 'gimme the paper'? Flip the guy a buck and yer on yer way. Simple transaction, innit?
And then, if I said to you that this eight year fiasco will be over soon, would you believe it? Actions, Stosh. Two entities to observe - JPM and DB. The latter, all over the business pages - easy to find. And the former - just waiting on the 26th. Both of these are ending soon to all who are here. And a very profitable one.
I think that discretion is the better part of valor, Cotton. You have done more than you know for the benefit of the final two legacy plays. Lemme preach on it.
Years ago, in the WAMU play, there was a letter written to the BK Judge, Mary Walrath, from a shareholder by the name of Nate Toma. In a nutshell, he called out the folks running the BK that the shareholders were getting shafted. And we were. In her ruling, she used the word 'colorable', which meant to all the potential thieves that you'd better settle and make things right. A message was sent from the bench. And they did. A different BK for sure as they dealt in mortgages and all the equity issues surrounding those. Three figure mid-billions awaiting distribution to their rightful owners - us shareholders.
You wrote a letter to District Judge - different animal. Immediate hoosegow if you piss Judgy Wudgy off. And he used the two magic words - 'fiduciary responsibility'. Oops, another message was sent. And later on, guess what happened? DB and JPM settled a girl schoolyard fight that's been going on for years. Why is that important? They are trustees. Badda-Boop, Badda-Bop, Badda-Bing. I'm sure you can figure the rest out. And all it takes is two things - have a life and be patient. This is playing out as it should with the big boys and we are along for a very profitable ride.
In the meantime, enjoy a T-bone, have a few Sinatras and dismiss all the balderdash with extreme prejudice.
Here's a little food for thought, a short history lesson and some thoughts. Small change does not matter. Back in '08, three firms did not receive TARP - FNF, WAMU and Pappy. Why? Politics. That being said, many folks made the first legacy play into a good amount of wealth by reading the situation correctly and got the hell out.
The second is soon to hit and that is too long to go into. But when you have over 140 institutional investors playing a stock hovering around two buck fifty, they know something. Many folks will be wealthy very soon - one candidate wants to increase taxes and those big boys want their gelt before that happens. So wazzup with Pappy, eh?
Lemme preach on it. The first two legacy plays are home grown - only one country. Pappy is a YUGE multi-national and information coming from across the pond is sparse at best. And the reliance is on dockets and the odd PR. Ever wonder why you don't hear a lot about reemergence? My experience has been that overseas money folks keep things close to the vest until the deal is done, then announce. PRs that update situations are few and far between. So where does that leave us?
I'm still thinking in the catbird seat. The catalyst for the second and third plays was done by some schlub from Texas, with all due respect and admiration, who made a District Court judge rule and said the two magic words. Note, not a BK judge, but someone who can put people in the hoosegow. And made the trustees in the second and third play settle and get on with it. So, I'm good waiting on the next distro. Good days ahead for those not greedy and have patience.
Something is always afoot, Stosh. As the old Sergeant said, "Hey, Let's be careful out there."
I think the simple things are better to examine, Argus. Just three items. The CTs were always debt in bankruptcy and equity going forward - just the way they were designed. Brilliantly, I may add. Pappy needs an American market presence in equity for the moment.
The second is that I always said to look across the pond. Pappy has strong visibility there - much more so than America. Get that up to speed and running and there ain't no stopping reemergence.
The third is politics. Only one candidate will treat businesses with a proper tax rate. Things are slow and frustrating due to lack of information, except the distro date. I'm not worried in the least.
Joyce - sure do. It's a short blurb, but it tells the tale. Many more analytical ones out there:
http://www.businessinsider.com/r-jpmorgan-settles-with-fdic-deutsche-bank-in-wamu-case-2016-8
This appears to be the last major hurdle of the final two legacy plays. Both are trustees and I believe that those two dirty words Judgy Wudgy uttered - fiduciary responsibility - got their attention. Besides some minor annoyance claims, there are going to be some very wealthy people very, very soon in that play. We are next.
Both of the legacy plays are coming to a profitable end in due time. However, a catalyst was needed to move things along. JPM and Deutsche Bank were locked in a many year suit. Fend for yerself for the details. All of a sudden, they are settled. And guess what positions they hold in the legacy plays? Trustees.
Some guy files with a District Court and pleads his case for all of us shareholders. And in the ruling was the two magic words - fiduciary responsibility. You don't think that judges don't talk with each other or that these two bandit banks are connected? And what do trustees do, eh? They are fiduciary responsible to those who put their trust in them.
That fella's name is Cotton. You have no idea what these two plays will reward you for being in them.
Here's something to chew on. The WAMU play and Pappy are intertwined by one entity - JPM. The pig settled with Duetsche Bank and now another tranche is being paid - the Piers.
Who is the CTs trustee? Another thing out of the way for the reward.
More importantly, these three legacy plays are all political. Viva, ya had a good comment about the three amigos joining forces. Besides the different business models, I'm afraid it ain't gonna happen. Play these one by one. We'll be rewarded.
Lot of money at stake, folks. Hold on to what ya have and never mind the bollocks.
How about a blast from the past, eh? Just got off the phone with a lawyer, Richard Cranium, from Missouri by the way, and this statement is rock solid from the NQ (same as the others) prospectus:
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.
Seems I posted this somewhere before, but I forget where. No matter. There is more than meets the eye in the final two legacy plays. But I would reserve a place where six, seven or eight figures come to you unexpectedly. I do. Politics, Stosh.
The last two legacy plays are about politics and nothing else. And look at it through that prism. A reminder:
Interesting as there could be two possible ways to the reward. The first is the Judgy Wudgy/Cankles Chapman and the fiduciary responsibility issue that still has not been settled. Full monty plus to us.
The second is interesting as well - conversion upon reemergence. Cts are debt in BK and equity going forward. Since we are Pappy's cock of the walk equity issue going forward, it's still the full monty plus.
A few subtle hints. What's happening in America in three and a half months? Who's invested in the legacy plays who want their money now, than later? Food for thought.
In the meantime, have a Sinatra and a T-bone. Cow is cheap in Sweet Home Alabama this time of year.
Interesting as there could be two possible ways to the reward. The first is the Judgy Wudgy/Cankles Chapman and the fiduciary responsibility issue that still has not been settled. Full monty plus to us.
The second is interesting as well - conversion upon reemergence. Cts are debt in BK and equity going forward. Since we are Pappy's cock of the walk equity issue going forward, it's still the full monty plus.
Oi vey. Meshugga.
In the meantime, have a Sinatra and relax. This is playing out as it should.
This is gonna be very good for all who hold here. As a reminder, three entities did not get assistance from the Fed in '08 - FnF (already basking in that dosh), Pappy and WAMU. It's all about the politics and the tide has turned to pay the piper. Full monty plus. Stay patient - a new sheriff is coming to town. Can't imagine how folks who are here and in WAMU will be rich. Amazing.