URGENT ALERT!!!!!!!
on 08/21/2012 ALL DIMEQ shares became worthless according to Fidelity.
I called them and requested a written legal decision to this effect.
I am clear from the final POR, that we had until Dec 31 2012 to convert to WMHI, provided we sign the non-culpability clause, which is an unconscionable travesty.
This matter is still open in two different Courts and should not have been labeled worthless, unless the godless people at JPM/FDIC pulled a fast one again.
Someone may HAVE TO INFORM THE COURT(S) OF THIS DESTARTDLY ACT.
There may even be an ugly tax consequence as well. We will all have to write the DIMEQ as a capital loss. If you held these securities long term you will get up to a $3,000.00/ year write-off of your investment. IF, a judgement is later rendered in our favor after 12/31/12, the income will be taxed as a Short Term gain in the year it was awarded.(because you have a zero cost basis and it was off your books)
The gain in that year will be taxes at Short Term rate which are generally your higher ordinary tax rates.
