Replies to post #7959 on United Western Bancorp Inc (fka UWBKQ)

[Reters]

very interesting piece is the protective order given.
the protective order is for emails exchanged between the FDIC and OTS. What is in these emails that has to be protected from the public?

[drrugby]

LG, We have a few differences here..

scares me that this Judge will be forced behind closed doors to give Big Government the win as they in the WaMu case.

1. Difference is.. UWBK has sued the OTWS to get its bank assets back. (Wamu did not)
2. UWBK court actions started in DC. (Wamu started in BK Delaware)
3. UWBK only recently filed for BK after lawsuits. UWBK has 12-18 more months of BK Court. (Wamu ran out of time in BK Court)
4. UWBK is not also fighting JPM, Citi, Goldman or BofA.

WAMU later sued the FDIC and JPM in DC Courts only after in BK the parties began sueing one another for:

Bank Deposits
Tax Returns
Assets
Ect..

IN the end.. After discovery and the slung mud by WAMU at JPM, FDIC and OTS.. We learned only some of the puzzle..

Later we learned that the Hedge Funds (Alegations of Inside Trading) agreed to settlement terms and traded on the info.

But the judge only signed off after a settlement was reached, Shareholder got what the Hedge funds wanted..

The WMI, JPM and FDIC deal stuck.. Cash and Refund %'s.

The end shareholders got 90% of the reorged company, and the WAMU Bank Capital Loss worth up to 26b$ and their is a litigation trust.

Although it took three years and change to get it done.

UWBK is very similar but very very different.

Which was heck of alot better than getting wiped totally.. WAMU still has value to be determined..

Happy 4th and GLTA..

GO UWBKQ Go..

DrR..