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

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_W/threadview?m=te&bn=86316&tid=555482&mid=555482&tof=5&frt=2#555482

-----Original Message-----
From: Reich, John M
To: Bair, Sheila C.
Sent: Wed Aug 06 17:32:482008
Subject: Re: W

Dear Sheila,

You really know how to stir up a colleague's vacation.

I do not under any circumstances want to discuss this on Friday's conference call, in which I may or may not be able to participate, depending on cell phone service availability on the cruise ship location.

Instead, I want to have a one on one meeting with Ben Bernanke prior to any such discussion - as early next week as possible following my return to the office. Also, I may or may not choose to have a similar meeting with Secretary Paulson.

I should not have to remind you the FDIC has no role until the PFR (i.e. the OTS) rules on solvency and the PFR utilizes PCA.

You personally, and the FDIC as an agency, would likely create added instability if you pursue what I strongly believe would be a precipitous and unprecedented action. And ifit occurs without my consent, I will not sit quietly by and observe - there would be a public reaction. Put yourself in the PFR's shoes in this situation. We have our responsibilities, including the right of primary supervisory determination of this institution's condition, and until Congress changes the statutes under which we operate, our responsibilities as the PFR are not to be simply tendered to the FDIC in a down economic cycle. It seems as though the FDIC is behaving as some sort of super-regulator - which you and it are not.

I also believe there could be a high potential for FDIC actions of the type you are contemplating to calIse irreparable harm to Wamu if, at any point in the near future, Wamu wishes to actualy seek a buyer. The potential harm could stem from the fact that any such potential buyer may have been all ready been contacted by the FDIC.

If in fact any meetings or discussions have already taken place by the FDIC with either JPMC, Wells Fargo, or any other entity, in any capacity in which WaMu was even mentioned, I would like to see a copy of the signed confidentiality agreement signed by the bank - required in any resolution scenario before an institution is told the name of the failing bank.

This is an OTS regulated institution, not an FDIC regulated institution. We make any decision on solvency, not the FDIC, and I have staff equally as competent as staff at the FDIC, whom I know well.

The FDIC can do whatever internal contingency planning it wishes, but should in no way go outside the FDIC. This is a 3-rated institution. Are you also trying to find buyers for Citi, Wachovia, Nat City and others?

Finally, if Wamu were to learn of the FDIC's actions, there may well be a question as to whether these actions may constitute a disclosable event. That, in and of itself, is a reason not to proceed with this approach for a publicly traded institution. The government should not be in the business of arranging mergers - particularly before they are necessary, and we are not at that point in WaMu's situation.

I will attempt to be on the Friday conference call, and I am going to assume this notion is not going to be raised.

John

Reply of the Texas Group to Debtors' Opposition to the Texas Group's Motion for Determination Regarding Waiver of Privilege

http://www.kccllc.net/documents/0812229/0812229100923000000000002.pdf

Tx Group

pdf 5

(i) The Debtors Must Prove that the Plan and the GSA Comply with
Section 1129 of the Bankruptcy Code

14. For the Debtors to show "good faith" under Section 1129(a)(3), they must prove that
the non-consensual, third-party releases of the Texas Group's claims are fair and necessary to the
reorganization. I I Continental Airlines, supra, 203 F.3d at 214.

15. As part of this, the Debtors must prove that the Plan and the GSA have been proposed
in good faith and are not contrary to the law. This the Debtors cannot do.

Comentario_: El punto 15 es la clave de todo. Weil & Co no pueden probar que el Global Settlement se ha hecho cn buena fé mirando por los intereses de los accionistas. No hay valoraciones y no hay por donde cogerlo, tiene más orificios que un queso de gruyere !!!!

A los negativos les digo que hagan más DD y dejen de decir chorradas, el fin del mundo se viene pronosticando desde no se sabe cuando y aquí estamos vivitos y coleando.

de acuerdo, pero de momento la cotizacion no contempla NINGUN escenario positivo.

Usando tu mismo razonamiento ¿realmente crees que la cotización da señales de escenarios NEGATIVOS?

Yo te diría que está estancada esperando noticias ni una cosa ni la otra.

Creo que si hay que ser esceptico, siempre lo he sido con estas acciones desde el principio, solo deje de serlo en febrero llevandome por la euforia de masas y cometi un error de bulto comprando mas acciones a precio mas alto.

Ya entonces planteé mis dudas en cuanto a los que apostaban por unas valoraciones estratosféricas y SI que es importante el precio actual como dije entonces, pensando que habia gato encerrado en el precio en relación a las expectativas.

El precio actual te dice ni mas ni menos que estas acciones pueden llegar a valer NADA. Este es el motivo de que unas acciones que pueden multiplicarse por 25 valen lo que valen hoy dia.

Estamos ante un todo o nada que solo se balanceará hacia un lado u otro si se filtran datos del informe del examiner o de hacia donde puede llevar el proceso.

Comparto plenamente tu comentario. Yo también he cometido errores que me han hecho pagar muy alto, lo que hoy vale mucho menos. Es cierto que pueden llegar a valer 0 las acciones, pero mi esperanza es que toda esta movida en el juicio, habiendo logrado un EC, examiner, buen estudio jurídico, y todo lo que se ha avanzado, más todo el seguimiento y apoyo en las diferentes webs afines al tema,consigan hacer la justicia que todos esperamos.
Pero está claro, con estos papeles no tenemos entre manos un diamante que todos nos quieren robar; tenemos solo una moneda: cara o cruz.
Saludos

No estoy de acuerdo contigo. Este caso tiene muchos frentes abiertos que pueden hacer decantar la balanza a nuestro favor.