You can steal someone’s assets and sell them to someone else.
You can steal someone’s cash, and sell it to someone else.
You can steal someone’s assets and cash, and sell them both to someone else.
But……..There will be serious repercussions for the illegal actions that took place.
Think about it.
FDIC: Hey JPM, Here is a $#!t load of banks and deposits that don’t belong to us , but we know that you want most of them, but we gotta make this quick. One of the deposits is worth $4 billion and you can have that $4 billion as part of the deal.
Dimon: Ok. How much for the whole kit and caboodle?
FDIC: How about $1.9 billion in cash?
Dimon: The $4 billion in cash is included in the price, is that correct?
FDIC: Yes. The price includes everything we discussed after your negotiations with them resulted in an unsuccessful execution of a buyout.
Dimon: Sounds good. Draw up the papers and we’ll get ‘em signed. Make the verbage precise. I don’t want anything to come back and bite us in the @$$ on this one like the BS deal. I want to pay 1 time.
FDIC: Don’t worry. We’re almost done with the papers already.
Dimon and FDIC: Hank. Hank. Are you ok? You don’t look so good. You gotta get some sleep.
Hank Paulson: (nervous silence due to him being even more involved than the FDIC, and because Bernanke is blowing him off)
Dimon: Are you sure we should do this? We know they have enough cash to cover all of their deposits.
Bernanke: Slurp, slurp. We are doing this. Slurp. It’s already done. Their ability to cover their deposits has nothing to do with it. Slurp, slurp, slurp, swallow. : ^ )
Paulson: Ahhhhhh.
The 3 little Pigs are all going to have their houses blown down by the Bair the big bad wolf.
3 Little Pigs = Paulson, Bernanke, and Dimon
Any way you break it down , the story has just begun. For anybody who is worried, WMI’s assets are much greater than their liabilities. They are in an even stronger position without WaMu branches, and are currently and literally under protection. It is mandatory that all relevant and requested documents be provided. The value of WMI is not really a question anymore, at least for me, and hasn’t been for a long time. In addition to their value, WMI is going to benefit greatly from being in Ch 11 and all of us on these boards will to.
Estimated End Result = Revaluing of the common stock (unless it takes off running, which it VERY well could) in which case no cash would need to be paid to any shareholders as the market would literally work things out for itself + Big time awarded damages + Prison Time
Bair is going to be the one to end Dimon and Paulson’s Big Gay Block Party which will soon be turned into their Big Gay Cell Block D Party, where non- consensual activities are always allowed and where the foot-longs are free everyday!
I sold all of my WAMUQ and WAMPQ today (dumped WAMPQ at 3.33 and the price never recovered), and bought more WAMKQ (I moved the pps up to .17 this afternoon).
I will be buying more WAMUQ after the pps goes down because I know that the shit is almost about to hit the fan, and I just put on my safety goggles because I am going to go sit back down and watch the early developments of the s#!t storm of the century my friends!
I’d say good luck, but this isn’t about luck.
