AZ, I know you truly believe in what you are posting but it is all a pipe dream.
The way wmih is now structured is the common way an m&a company sets up the host company for future acquisitions. The value of a minimum of 6 billion in nol's is worth 2 billion in cold hard cash. That's it.
Those that actually think that the play is for wmih to acquire wamu holding company assets from fdick are more than likely incorrect, it is not feasible or possible.
Think about it, if wmih buys wamu bk holding company assets there would be an uproar. There would be investigations out the wazoooo. Lawsuits out the wazooo. It just is not feasible.
Of course that is assuming there are any assets that are coming back, imo, less than 100 million will come back.
My point is that a "standard" m&a deal will be done as soon as the right situation occurs, when blood is in the streets and wmih can acquire very good assets on the cheap. This is kkr's game.
That is why I hold a ton of wmih shares, albeit at a nice cost basis but none the less a lot of shares.
Am I comfortable right now with my wmih, not nearly as much as before. WHY, BECAUSE OF KKR'S RECENT F-UPS, THE 5 BILLION LOSS IN THEIR OIL PLAY AND THE SEC INVESTIGATION THAT LED TO A FINE.
Knowing they are not clean, my fear is they will steal from wmih to make up for their f-up with the oil play. I don't trust them like before and I am watching for any signs that the fix is in and wmih share holders will get screwed to help only the insiders, especially kkr.
If my gut says bail, I will take my profits and run.
all imo
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