does todays letter from the WMILT mean that there is no recovery for the class 19 and 22 Claimants...if no recovery, then why was all those lawyers for class 19 in court to hear BOBFSANS objection?...if there is no recovery for class 22, then why did MW accept all those free shares he got for 8 years?....what about Bonderman? does he walk away quietly in the night?...what I think happened is that WMI disclosed only those assets that were needed to backstop the chapter 11, and put their residual assets in hiding, and did not disclose it to the court, so, actually, Rosen is correct in saying that there is no residual assets in the WMILT...WMI took a pagebook play from K-Mart, only with a new twist...K-Mart did disclose no appreciable assets because the real estate had been written off for years, as they owned the land outright...WMI stated in court that there were no assets, because they removed them from the books before filing the chapter 11 bk...think about it, wouldn't you do the same thing if you had a title to a Lambo, and had to file chat 11?... wouldn't you move it somewhere, to transfer title to it, rather than state that you owned this asset in court?.... How could CS get a 2.7 Billion dollar bridge loan, and declare to the banks that they had sufficient assets far and above any liabilities to the loan....this is what happened here...WMI never intended to leave the estate to legacy shareholders, they moved the assets before chapter 11, so as not to legally disclose them to the court.. then holed that the legacy shareholders would simply walk away empty handed...they have been gaming the share price of coop for 8 years now,hoping we would walk...when all mom and pop sell, then WMIH will move those assets onto coops books, and the price will go ballistic... thats why Bray and all the executive officer accepted free shares at out expense, plus the 1/12RS.. they want to drive us away and get the bounty which at this time is hidden, and never will appear on coops books while we are still around.... AIMO... Lodas
added...where did the money come from to pay Chad Smith 2.5 million?....where did the money come from to finance A/M, TAB, Rosen, Kosturos, et.al. for 12 years... where is the money to back the Bridge Loan come from?
