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

Hoy la Bolsa no funciona por el "Día de la Independencia".
Saludos

gracias, lo pasan como aqui en Argentina.
hoy tendrian que dar feriado por la tristeza.

Tranquila. En 4 años tienen la revancha. Espero que en esa oportunidad sepan aprovechar la enorme calidad de jugadores que tienen

http://blawgletter.typepad.com/bbarnett/2009/04/how-susman-godfrey-handles-cases.html

In handling complex litigation, our firm is guided by two principles, both of which reduce expense without sacrificing chances for success. First, less is best. Excess discovery is not just nonproductive, it often is counterproductive. Excess discovery removes the element of surprise at trial, forces the opposition lawyers and witnesses to get prepared earlier than they otherwise would, and often takes the eyes of the lawyers who engage in it off the ball. The best lawyers are best able to handle (and create) surprise at trial. We believe in retaining our natural advantage.

Minimal discovery, however, doesn't mean being ill-prepared. It means we prepare by means other than formal discovery, such as thoroughly interviewing our client's employees and the other side's ex-employees, organizing all documents and information chronologically to understand the complete picture, and conducting jury simulations.

Second, we take whatever discovery we need before the other side does. We like to take the first depositions and we like to depose the top executives first - before they can get their stories straight. We don't believe extensive document discovery is necessary to do this.

So far, there have been repeated delays of the hearing on the debtor’s DS, which is one of the critical components of the debtor’s POR. The delay was initially caused by FDIC. Now it is primarily due to the disputes over the discovery issue. To be sure, the debtor should bear full responsibility for such delay, wasting the time of the court, and the estate’s resources by continuing throwing out roadblocks in the discovery process, and by trying to sabotage the due process of the court. The discovery, which is at the heart of POR/DS dispute and this massive case, has had a rocky ride since the beginning. We shareholders have, nonetheless, successfully connected the discovery issue with DS/POR confirmation process to ensure the transparency and due process of the court. “Without proper discovery, no DS/POR process can proceed.” The court has given both the debtor and the EC fair chances to cooperate but talks between parties failed time and again. Such failure has amply proven the necessary for, and may very well lead to the appointment of an independent examiner by the court to end this “he said, she said” circus. I hope the court will continue upholding the due process of the law. But, nothing is guaranteed. The best description of the current status is stalemate.

There was not much to read since June 17th hearing, so I re-read the EC’s 2nd motion for an examiner, especially its Reply in Support (of examiner motion). It seems to me that the appointment of an examiner is not only necessary but inevitable after so much wrangling. The new motion is much stronger than its predecessor. The scope is narrowed and focused. The target is clear: the hard assets of the Estate, and role of JPM and FDIC in bankruptcy. Since May 5th, the EC (especially EC’s new counsel Susman team), through its own diligence, has gained a deeper understanding of the case and presented a better framed, targeted motion, which, in my view, should alleviate the court’s previous concern of “using estate resources [unfairly] investigating systemic problems which only benefits future parties.” As the motion pointed out, a targeted investigation of the role of JPM and FDIC is vital to understand the cause of wmi bankruptcy and the assets of the estate. I hope the court can see this important point. Furthermore, the EC’s motions provided fresh evidences which demonstrated that the debtor’s investigation of JPM was extremely inadequate, and in my view, even flawed to some extent. It’s a joke that the debtor’s counsels, intentionally or unintentionally, have not utilized or may not even know the existence of a massive JPM database on wamu sitting at the well publicized Senate PSI panel. In EC’s words, the debtor was “hoodwinked” by JPM and “…a real investigation never occurred here…” At this stage of discovery dispute, even though the debtor may be a little more forthcoming with sharing its “work products” (all under the court’s pressure), I seriously (I believe the EC too) doubt the soundness as well as the completeness of the debtor’s so-called discovery. It is my view, a thorough investigation by an independent examiner, or a court-sanctioned takeover of discovery process by the EC is warranted
As much as I wish the examiner issue shall be determined by the merits of the motion alone, unfortunately, it will not. It will likely be determined based on (1) the merits of the motions, (2) the oral arguments, and (3) the presentation of intriguing reports on “meet and confer” and the so-called “good faith negotiation”. As much as I wish the merits of the motions (oral arguments included) should outweigh all other factors (I firmly believe the merits of the arguments are on our side), I shall never underestimate the debtor’s ability to pull some tricks from “meet & confer” and “good faith negotiation” reports. The reports can be double aged blades, causing another delay or even denial of the motion, or on the opposite, further proving the necessary for an examiner, depending on the content of the reports and what happened in those “good faith negotiations”. It’s also likely, this is just another “he said, she said” looping circle, which requires the court to take firm action to end it so that the real discovery/examiner and the whole case can move forward.

Precio Objetivo de Investigación actualizaciones WASH Mutual Inc de neutral a Strong Positive .POR Wall Street a la carta
- 7:10 AM ET 07/05/2010
En 02 de julio 2010 Precio Objetivo Research mejoró WASH Mutual Inc de neutral a Strong Positive .

http://eresearch.fidelity.com/eresearch/goto/evaluate/news/basicNewsStory.jhtml?symbols=WAHUQ&storyid=201007050710WSOD____ANACTN_P_225-3650_40361-20100702-26961854&provider=WSOD____&product=ANACTN_P

Hola Venerando,
Justo estaba por postear lo del upgrade. Me parece una muy buena noticia.
Esperemos que mañana se vea plasmada en la cotización.
Saludos.

Hola Adruna
Si, a ver si este es el mes decisivo de una vez.