2019...
With both the WMB and WMI bondholders for one. Again, if you believed the pref shareholders could have taken a haircut for the sake of the commons then the bondholders are no different.
"I believe it to be wishful thinking on your part to think the ec can get these people to be that charitable in either a liquidation or reorganization scenario. The membership of the ec is irrelevant in the sense that preferred shareholders have not given them their power of attorney or proxy for the ec to do with them as they wish."
Maybe I misread you. I believed you said this had been your assertion, at least at one point. It certainly has never been mine.
The WMI bondholders can sell now and get 100% or more of what those bonds are worth. That's without a dime of money coming from WMI.
They bought injured debt, not a piece of an injured company seeking damages due to what happened.
THJMW bent over backwards to allow the WMB bondholders to argue their point due to potential fraud.
You're basically saying it happened and she'll find in their favor.
Maybe we should get some evidence relevant to that before we just assume that's the case.
At the same time, what did they pay for their bonds? What are they worth now? How many of them have already seen the value of those bonds rise beyond that which they would have made had they paid face and held onto them til maturity?
Likewise, the FDIC has 2 billion (as per Rosen) and as we've recently come to find, is still holding onto WMB assets of unknown value.
There's more going on with the WMB bonds and the FDIC than I'm going to get into here. People should check around on the other boards for more info on that.
As far as your opinions, you're entitled to them. I believe they're stacked upon safe bets on your part and trust me, I'm loaded with Ps. But I certainly don't believe that we know the outcome of the commons is certain either way.
Regardless of what Joyce said or what I said... and I agree with her, the FDIC can seize under dire times without being questioned...
However, you might want to read Susman's filing. If that seizure turns out to be part of a greater conspiracy then you're talking about a very diiferent can of worms.
In my opinion there are just far too many known unknowns to make anything more than semi educated guesses.
If this motion is approved, I will consider this a tie game going into extra innings. All bets are off. All stats and numbers are out the window.
Weil didn't pursue that which should have been sought. If we can find an end around them and so such... it's a different ballgame altogether.
All just my opinion.
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