News Focus
News Focus
Followers 20
Posts 1526
Boards Moderated 0
Alias Born 06/30/2006

Re: es1 post# 160972

Saturday, 03/06/2010 2:29:56 PM

Saturday, March 06, 2010 2:29:56 PM

Post# of 749756
Here is the problem with most valuations and settlement guesses, which is totally different than what we will get in a settlement.

If you were to start today to build a nationwide bank and acquire a combination of owned and leased properties to house 2239 branches all across the USA, almost 200 Billion deposit base, thousands of ATM locations, a credit card company and numerous profitable subs plus over 20 Billion in cash at their disposal, it would take JPM decades to duplicate this and cost hundreds of Billions of dollars...all of which JPM got for 1.88 Billion.

It took WMI over a hundred years to do this and JPM did it in a matter of months because they stole it.

Now, we're not going to get hundreds of billions of dollars but those of you who think the real value was only 26 to 52 Billion are crazy, but real value does not even mean we will get the 26 Billion or even less.

JPM would get a steal of a lifetime at $100 per share and they are lucky that WMI has a weasel like Rosen handling this. An aggressive attorney would have squeezed the discovery process to the hilt by now and I feel we would be in a much better position.

How much will we get...who knows, I sure don't.

Discover What Traders Are Watching

Explore small cap ideas before they hit the headlines.

Join Today