Escrow smes-scrow, what has transpired here in the last 8 yrs was an eye-opening experience for myself and other investors. As I have always stated "I bought my shares after the BK" hoping to make some serious dough on the runup after the lawsuits were litigated and shareholders were rewarded. Nope big powers that be saw to it, that this did not occur.
Fast foward 8 yrs and look where we are. Still have those who believe Prefferds are going to reap a huge windfall, WMIH is going to be the billion dollar market cap company it should have been by now, everyone will be highly enriched for waiting so long.
Maybe..but most likely not. Sheila Bair called us vultures, that was the sign to destroy the value, lessen the returns and make sure we did not profit from the investment. FDIC will not be returning funds to LT, they are slowly eating them up in fees and outside required expenses. JPM stole WAMU because regulstors gave the bank to them..Yep! Who's share value has tripled since then?
Now the board wants re-elected and everything is peachy in WMIH land. B.S. The traders dumped half market value off the stock on the president election, only because our NOL's (largest asset) may be pushed out more yrs, than at previous rates. Did not make one lick of difference, just another way to stick it to the avg shareholder.
I am only down to holding 5k shares because this company is a joke, I have moved on, accepted the licks, learned from them and diversified into other areas of investing. WMIH is and always will be a scam until they finally make that acquisition or go back to Walraths court because of inaction. They were given all the money they needed to have,acquired income-producing companies by now, but have not produced anything for shareholders.
I encourage every shareholder to vote against all board members because they do not deserve any compensation for absolutely,no work. Not getting rid of Charles Smith was a huge mistake and our share value proves it. They have not done one thing they can reliably put out there to you since they signed the preferred agreements for the capital raise. They are like all the other blowhards "Full of Excuses!"
Send them a message.
VOTE NO ON ALL OF THEM!!!
Happy Investing
~Don~
NEW BLUE 2016 CAMARO
JUST IN TIME UZ!
