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Sunday, January 25, 2015 12:11:12 PM
http://s.wsj.net/public/resources/documents/WSJ-WAMU-Responsive-e-mails092810.pdf
Once you read this former WaMu Executive letter, then imagine one of many actions. Depending on whether we receive small or large money for our BELOVED Escrow Shares, IMHO, there is one thing that is certain. There is no way there is only 6 billion in total tax attributes that WMIH will ultimately be able to use. Once (key words) this case closes out and the P&AA is reconciled, only then we know the true amount of tax attributes for NewCo/WMIH has available for use, but I will say the following with confidence.
IMHO, based on actions in the former WaMu case since 9/2008, we WILL SEE at minimum 15 fifteen billion in over all tax attributes for NewCo/WMIH to use and as much as 40 billion, all depending on how much comes back to our Escrow Shares as a form of disguised settlement.
But remember, to enjoy what I think will be a HUGE disguised settlement, one would have had to own equity and exchanged their former WaMu equity in a timely manner before 2/8/2012. This would have also been before the payout Matrix was changed allowing equity to take what the original Piers holders had planned on taking in POR 6!
Also know that original Piers investors sold hundreds of thousand of former WAHUQ-Piers between 1/2012 and 2/8/2012 bringing the price of former WAHUQs down to the $2.00 to $4.00 dollar range. This is when Retail started buying. They had no idea after the deadline for exchange (2/8/2012, the payout Matrix would be change. This changed the history FOREVER for those that purchased Piers during this time.
They would NEVER be issued our BELOVED Escrow Shares or NewCo/WMIH shares for their investment, unbeknown to them at the time. We know this because 99% of the original Piers owners were Hedge Funds trying to control the bankruptcy, the Matrix payout to extinguish ALL of equity in POR 6 allowing Piers which was part hybrid, part equity which allowed them to receive all the spoils with equity canceled in its entirety. However, that failed miserably for them allowing Equity to receive all spoils in tranches 5/6 and reconciliation with JPM/FDIC.
Yeah, this was the expert gameship by Professionals Susman/Willingham Team and the ULTIMATE "SHOCK and AWE" for those that were smarter than the experts. They will forever live with this!!!
Have I told you lately how much MORE and MORE I love my Escrow Shares?
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