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

y tiene cojones porque el POR ha sido denegado,pero lo han atado muy bien la juez y rosen,al EC no le daran bola,haran un par de modificaciones sin dar un centavo a la equidad y se confirmara el latrocinio.

el lunes es probable que la accion ni se mueva,si hubiera sido durante la sesion el ruling pero la gente tiene todo el finde para llerse la sentencia y actuar en consecuencia............no descarto que cierre el lunes con perdidas en preferentes

yo no me creo ni que estes dentro del valor eres un pumper talibanista,el tal maximunae te da 1000 patadas como persona y como trader,eres incapaz de ceñirte a los hechos.

willingham????y tu que coño sabras de lo que sucede entre bambalinas,a que acuerdos no firmados se pueden llegar esto es una guerra JPM actua sobre la base de coste beneficio,el millon de supuestas accipones de este individuo puede no siginificar nada si les dan millones de dolares por detras,que crees que les compensa mas darle 30 kilos de dolares o tener que pagar las preferentes ni que sea al 10% de face value.

Mmmmmmmmmmmm....

WMCT 2001 is a sub of WMI, not a creditor...

http://www.wamustory.com/subsb4.htm

la denegacion del POR 6 es una payasada de la jueza
lo dice claramente, si arreglan un par de cosas de forma, todo OK.
de hecho, es clara cuando dice que todo es justo.
ya esta dicho, este juicio es una payasada y rosen esta al mando y la jueza lo unico que hace es cuidad las formar
si susman no saque un misil, esto esta perdido

señores, leyendo lo que ha dicho la jueza, creo que ESTA TODO PERDIDO PARA LA EQUIDAD.
¿Aun teneis dudas?, lo pone bien clarito .

Continuo leyendo y entiendo lo mismo, unos puntos a modificar del POR actual y POR aprobado, nada de un POR nuevo , ni rollos patateros.

Al principio parecia una buena noticia la denegacion, pero leyendo a fondo la documentacion cambio de opinion.

Myadad dice:

After reading the entire ruling I went for a long walk to try and digest what I had read. The first part felt like I was reading an explanation of why she would approve the POR. Point by point she basically made excuses why all the dd that we have gone over ad nauseum for the past two years was reduced to irrelevancy.

It would have been easy for her to reject the plan based on the releases with perhaps a 3 page document, but instead she chose to explain why the basic plan would be OK if a few things were fixed. In effect she didn’t want to send everyone back to start. It was pretty obvious that as long as the plan paid off the debts and provided for the creditors, she would go along with the basic structure of a massive GS and not worry about the little details. However, she wouldn’t permit the law to be broken so she objected to the way the releases were handled.

But it wasn’t a complete loss for equity and the EC. She specifically recognized that there would be additional money in the form of NOL’s coming to the estate because the plan was not approved prior to year’s end. In addition, she handled the WAHUQ’s in a way that has to upset the hedge fund owners who were counting on them to be their ticket to ownership of the future value in the company. First she gave the small retail owners a key to the WAHUQ clubhouse saying they had to be treated as equals, and then she left open the possibility that there could be some doubt that H’s should be treated as bonds, or as equity. I don’t think she bought Nelson’s argument but by not ruling on it, it forces Rosen to get agreement on this point with the EC or be prepared to argue it again in a future confirmation hearing for POR #6B pr #7 or whatever they call it.

In any decision, there are winners and losers. The BIG winners here are JPM, let off scot free, the FDIC, WGM and Rosen who were specifically told they did nothing wrong. Win some lose some were the bondholders who might end up with less interest, Susman who stopped the POR#6 but obviously lost on a lot of his appeal points, Preferreds who probably are not going to get full value but still have some important cards to play in granting the releases, and sharing in the extra found money, and retail WAHUQ owners who should get the right to buy into the new company. Losers were the hedge fund owners of the WAHUQ’s, I am not sure how to classify owners of commons because I don’t know if Rosen wants releases from them or not. If he wants releases, then they will get paid but probably not any where near what some people here are expecting.

I think Thjmw was sending a loud message to all parties to get together and make some compromises. If they want the releases they will have to pay for them. There is extra money so come back with something where everyone is on board and I will approve this.

Just a thought experiment... not saying that I think Hs are or should be classified as preferreds... but a little calculation to put the Hs' (i.e. hedgies) potential quandary into perspective if this is how things were to turn out...

In the last DS the Hs were the lowest class estimated to have a significant recovery, and that recovery estimated at 74% (based on trustee-negotiated principal value, with no post-petition interest). The value of the Hs claim is $765M, so we can calculate that the Hs as a class have an estimated recovery of:
74% of $765M = $566M

Now if Hs were deemed to be preferreds they would be lumped into a new class with Ps, Ks, and (apparently from one of today's other rulings) the TPS.

Values:
Hs = $765M
Ps = $3000M
Ks = $500M
TPS = $4000M

TOTAL preferreds = $8265M

That's a total for the new preferreds class (containing Hs) of $8265M, which would have to be shared by all four components of the class. The estimate from DS is that Hs were going to get 74% = $566M of recovery, so the recovery for this new preferreds class would be:
$566M / $8265M = 6.85%

Applying that percent recovery to each class to get the share price (Hs value at 100% would be $765M / 23M shares = $33.26/share):
Hs: 6.85% of $33.26 = $2.28/share
Ps: 6.85% of $1000 = $68.50/share
Ks: 6.85% of $25 = $1.71/share
TPS: [??]

So if this scenario of Hs being dumped into the preferred class (and bringing their $, no other claims inserted above by Rosen, etc) were to come true, Hs, which are now trading at around $23, would have a value of well under $3, whereas Ps, which are now trading around $20, would have a value of close to $70. Not only might the hedgies lose their iron grip on the reorg WMI, but their massive ownership of Hs would not be worth nearly as much as they expected (about 10% of its current value).