Washington Mutual demanda a la FDIC por 17 billones US$ + daños

Today for the first time since the so-called settlement was announced the EC was able to make its voice heard in the bankrupcy court. What a voice it was!

Now the EC can strike back and ask the WMI legal representants to answer the following questions?

1) Why did they ask for a delay of the SJ for months when it could have been in the favor of their client?
2) Why are they satisfied with such a settlement after they filed lawsuits against JPMC and the FDIC for over $10b? These lawsuits were announced before WMI knew about the extended tax refunds that they now want to share with the FDIC and JPMC
3) What is happening with their claim of unfair seizure and low price sale to JPM?
4) If the seizure didn't cost anything to the FDIC, why do they keep the $1.88B they have received from JPMC?
5) What was the purpose of the discovery if they now drop all the charges and disputes for what was to be turned to them anyway
6) Today Rosen talked about milking JPMC? The opposite is what Weil and WMI are doing, giving more to JPMC, surrending etc
7) Lawyers are players, actors, they pretend, ask for huge settlement at first when they are willing to settle for less. In this case Weil and Co costed a lot of money to the debtor and at the end the debtor won't get anything close to what they sued for. Why are they satisfied with that?

Now looking at the BOD. A meeting will take place, every shareholder will have the choice, ousting the current board or facing the risk of seeing their shares wiped out. The current board wants nothing for equity. So the meeting will be a way to determine how many shares are held by those who are satisfied in seeing them being worth something or zero.

We wanted discovery as far as discussions between JPM and the FDIC. THJMW ruled against us because they weren't narrow enough.

She said we had to show that 2004 was needed and that we couldn't simply get the discovery through discovery linked to a "regular claim".

THJMW told them they could get all of the discovery they want into 3rd parties if they'd just file a lawsuit against JPM.

Where's the suit?

THJMW also said that the correspondences between JPM and the FDIC seemed related... but took issue with the broadness of the request.

We never filed a revised discovery request. No attempt to prove it relates and was necessary.

I grabbed some audio... go ahead and listen. This was January. The settlement came about in March. What caused the delay? Weil responds to the EC's motions and court victories within hours. Why have we never heard another peep about this?

We all know the answer and I'm really now wondering if they threw that attorney out there to present a subpar argument right off the bat. If not, she had a bad day arguing something they had to know they were highly unlikely to get from the onset.

Regardless, someone should bring this up at some point and explain to THJMW that we find it highly bizarre that even as a contingency this was never followed up on at a time when a settlement should have been viewed as a pipe dream.

If Weil claims they needed months to revise it, that's fine... but explain why since it would only have been a revision and further explain how it is that they're prepared to attack/rebut the EC within hours but were still unable to revise this or file suit well over a month after this request was denied.

http://wamuqd.com/2004Issue.mp3

It's like we heard in court today... they're trying to give away our assets, our cash, and these assets as in claims against JPM and the FDIC. They never had any intention of revising the discovery request or filing suit directly against JPM.

My question is... Why? I think in this case it's more than just the bondholders trying to assume control of the company. I could be wrong, but I do sense that there's something else, some other twist that we're not seeing. What are the ramifications for WMI if they filed suit against JPM?

What could/would have come out as far as WMI/BOD/Bondholders?

Por cierto aunque no tenga que ver con wamu el dax en verde y el ibex en rojo -2%. Vaya tela marinera.

Saludos

Estos del ec son capaces de jodernos y que nos cancelen las comunes,exijo arrobo y contundencia en defensa de nuestros intereses

Ahi está mi miedo, Ten Shin, que cancelen las comunes, como parece que quieren hacer. Por cierto, Maxi, ya te digo, aunque llevan ya algunos dias sueltos. Sin duda Grecia arrastra a España (por lo de los PIGS, supongo).

Las divergencias en europa cada vez se hacen más evidentes, en España necesitamos un cambio político, económico y social YA. Me veo que terminamos peor que Argentina clase política corrupta, la industria marchandose toda fuera (la poca queda) y con corralito.

Saludos

Alguien sabe como va frankfurt??? Este enlace es el que siempre uso pero aparece un mensaje en aleman que dice que no existe accion con esa denominación

http://de.finance.yahoo.com/q?s=wm.f&m=a&d=

Pilla este

http://finance.yahoo.com/q?s=wmi.f

o este con menos delay

https://www.rankia.com/foros/bolsa/temas/269650-washington-mutual-demanda-fdic-por-17-billones-us-danos?page=976