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

Para los que opinan que mañana se termina todo...

Mañana si tenemos la suerte de ver el informe antes de la medianoche podremos valorar el escrito pero tendremos que esperar hasta el 9 de noviembre para valorar como se tomará la Juez dicho informe.

Es crucial pero puede que aunque haya un feedback positivo los MM´s sigan jugando hasta el próximo hearing.

JPM trabaja con varias Hedge Funds que estan haciendo el trabajo sucio, Appaloosa, Owl Creek, Aurelius y CenterBridge.

Pero en caso de que los accionistas de preferentes voten no, que es lo que harán ¿Sirve esto para que el POR no salga adelante? esto es lo realmente importante de conocer en relación a las votaciones.

Claro Venerando si las preferentes votan NO podria caerse por su propio peso. Esperemos no tener que llegar a votaciones y que se ponga un Trustee por medio para evitar todo este tinglao.

Una cosa es que podria caerse y otra es que caiga, porque es evidente que los preferentes votarán NO. ¿Alquien sabe lo que dice la Ley al respecto de una manera concluyente?

WMB was seized unlawfully and some time in the near future JPM Chase will be paying for their ill-conceived plan to destroy a 100-year-old institution.

The closing of the Purchase and Assumption Agreement has still not occurred, the FDIC is waiting on a final bill from the Bankruptcy court. Oh yes there will be a big one. First the FDIC did not have the authority to close the Bank, that belonged to the Office of Thrift Supervision. In order to close and take the bank into receivership a solvency analysis needed to be done to determine if the banks were solvent; because this was never done, no cease and desist order or Re-Capitalization Letter was ever issued.

For months JPM had been working with the FDIC on how to conduct the Auction. For Months JPM had been getting inside information from WMB under Sham Negotiations to buy the bank. You keep hearing that JPM offered $8.00 a share for WMB that too is wrong, it was more like $4.00 a share and it would have been a stock transfer. True JPM left open the possibility that it could go as high as $8.00 a share, depending on the Loan Portfolio’s performance but after the deal has been done who is going to pay more.

It was right after WMI brought on Steve Rotella from JPM that the troubles began; though Rotella was apparently let go right after the seizure it was the people that he brought over from JPM that caused the problems, specifically the risk assessments and others in charge of lending. Oddly enough those that were brought in and did the most damage to the WMI lending portfolio were kept on by JPM and doing well.

To get to the heart of the matter, if the FDIC did not have the funds to cover WMI shouldn’t have gone down it would never have been able to cover to 70-90 trillion dollars JPM had out in Derivatives. AIG went down because of this and JPM was next on the list. JPM knew it The FDIC knew it and together they worked to get JPM the bank it wanted and needed to stay alive.

WMI had the Capital it needed to survive, JPM did not. Project Philmore was to downstream 20 billion dollars from WMBfsb to WMB, all of the required documents were in so the FDIC and the OTS were well aware of the ability of WMI to re-capitalize.

What is the outcome of all of this? Most likely JPM will retain WMB as well as WMBfsb and everything else stolen. The Bankruptcy court in Delaware will set a fair value and damages and the FDIC will be handed a tremendous bill, most likely above 200 billion dollars. Then the FDIC will hand JPM Chase a bill for the remaining balance and the deal will be closed. The Share holders of WMI will be made whole.

Esto falta que lo exponga el examiner en el informe y aporte alguna prueba para que sirva a los accionistas, de lo contrario son peticiones vacias.

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_W/threadview?m=me&bn=86316&tid=582497&mid=582497&tof=1&frt=2#582497

La gente tiene un merito tremendo haciendo calculos de todo.
Que se haga Justicia!!!!! Nada más.

The Examiner's Report is due tommorrow. The debtors have characterized it as nothing but a waste of money. The bankruptcy court has tended to treat it as a mere formality to be undertaken on the road to confirmation of the debtor's plan...one more checked box on a form. The media have largely ignored it, other than to refer to it as a foregone conclusion, hardly worthy of mention. For us shareholders, though, it is the very first time that we will have accurate and unbiased information on the estate's assets, the causes of action against the parties that have injured us, and the propriety of the giveaways to JPMorgan Chase Bank. I am a pre-seizure holder of common shares and yesterday I received a notification from Kurtzman Carson in regards to only the pre-seizure shares advising me of the debtor's plan and informing me that the common shares would receive no payout and were therefore considered to reject the plan so no vote was required. I also hold common and preferred shares post-seizure and have not yet received a ballot for the preferred or any notification for the post-seizure common shares. Thanks to the US Trustee, the Equity Committee, and the consequent Examiner, there will be more to this story than the partial-list mailing from Kurtzman Carson and JPMorgan Chase will not be successful in paying $1.9 billion for 2200 branches and deposits, adding negative goodwill to their balance sheet in consequence, and then nervily arranging to receive more than $4 billion in our money back along with numerous assets.