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

Deja de bombear Mr. Simpson nadie compra paquetes de 5.000 de P´s. Las compras son de 200 y 500, incluso de 100. Alquien que estuviese acumulando haria subir las valoraciones. Lees y copias sin saber nada de como funciona la bolsa. Asi es como habeis engañado a numerosos inversores, pero vuestras mentiras ya no cuelan, por eso cada vez las acciones estan mas bajas en vez de subir que seria vuestra pretension. La Juez pondra a cada uno en su sitio y tal como comentó Maximunae69 DEBES PEDIR DISCULPAS PUBLICAS POR TODO EL DAÑO CAUSADO TANTO ECONOMICO COMO MORAL A TODOS LOS QUE HABEIS CRITICADO, ENGAÑADO Y HAN SUFRIDO BANEOS O DESPRECIO DE OTROS USUARIOS QUE SE CREYERON TUS MENTIRAS Y LAS DE GHOST Y YAHOO.

Ya de paso porque no pones que tb debo pedir disculpas por no poder salvar al mundo... seras carajote.

Tambien pide disculpas por no salvar al mundo.

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_W/threadview?m=te&bn=86316&tid=733579&mid=733579&tof=13&frt=2#733579

Many people were dismayed by Susman’s February billing statement. They viewed it as lack of efforts on EC counsel, or something worse. On the contrary, I always thought I can make a case for it in a positive way easily.

This is February 2011, not April, or May, or June 2010, when Susman just joined EC, and had lots to learn, study, investigate, and strategize from ground up. It was no wonder they logged more hours and billed more dollars during that long period of time (month to month till 12/2010). In my view, most legal and factual researches, including valuations, had been done before December hearings of 2010. So I said (in “Defending EC” 04/06), “The judge said she is not going to re-litigate most issues in GSA. She also said some issues involving JPMC and FDIC are outside her jurisdiction. I think this explains why EC legal counsels logged so few hours during February billing statement. It doesn’t mean EC is giving up. It just means, on a number of important issues, the battle is now moving to District Court for appeal. There is not much EC can do about that except petitioning District Court to expedite the process. Meanwhile, in my view, EC counsels have been immersed with appeal issue already and well prepared for it.” Meanwhile, EC fixates its focus on a few narrower but critical issues such as WMMRC valuation, insider trading investigations, FJR, etc, which the court had singled out as troubling in her January opinions. (Please keep in ind that those issues are narrower in scope but their ramifications are wide open). If EC counsel continue to spend lots of time on “old” GSA issues (which the court said no re-litigations”), I would have real concerns because it could mean EC didn’t do their homework in the first place.

People may argue, you think EC has placed its focus on WMMRC valuations, why didn’t we see much evidence in the billing statements? Well, I said Seth Ard is likely EC’s “appointed man” on WMMRC/NOLs, based on my observation of him since 10/2010 (He is also heavily involved in insider trading investigations, based on 2/8 and 3/21 presentations). But, EC’s real financial/valuation expert is PJS, whom we shouldn’t forget. PJS files its billing statements separately and has done works mostly in the background. When Rosen in the court on 03/21 complained about and asked for EC valuations, he didn’t ask for Susman, or Justin, or Ard valuations, but PJS valuations. If you follow my logic, Susman’s recent billing statements may not be as alarming as you thought.

Regarding Susman March billing, there are several interesting aspects. (1) The timing of first entry for “settlement offer” was 3/20, one day prior to 3/21 DS hearing. It’s possible this was one of the reasons for EC low key performance at the hearing, but most likely, I maintain my previous position that this was a calculated move by EC because it knew DS will get a pass due to low standard, and because it also knew where the major battles lay ahead (namely WMMRC valuation/ownership, insider trading, FJR, especially confirmation hearings.) Please note, on the same day (3/21) when Ard was at DS hearing, Sargent was “preparing for hearing on plan confirmation by reviewing material related to valuation of reorganized debtor.” Again, on the following day (3/22), Sargent was “conferring with trial team members re hearing on disclosure statement, modifications, and strategy for preparation for hearing on confirmation.” Those entries support my analysis of “calculated move.” EC and counsel obviously knew what they were doing.

(2) I’ve said, and I maintain this observation, that, “[deposition] delays are a sign of their [SNHs] knowing they’re guilty. If this is the case, then the delays are necessary but not a solution (for SNHs). So, a solution has to be found. It is also my view that the solution cannot be unilateral. It has to be mutual or multilateral.” Is there any correlations between deposition delays and “settlement offer”? It’s too early to tell. The delays may be just that, delays, and one of the possible solutions is just to let deposition going forward (like what happened to Aurelius on 5/5). Again, it’s too early to tell. We’ve to wait and see.

Aurelius is certainly interesting though. I’ve noticed on the billing (and in court too), EC generally refers to SNHs as a group. For instance, on multiple billing entries, EC records “Reviewing settlement noteholders document productions.” Or “Reviewing materials produced by settling noteholders and summaries.” On one occasion (3/22), it records, “Reviewing debtors' supplemental production and Aurelius, Owl Creek and Centerbridge productions.” But most interestingly, after hours (4 hours to be exact) of “Reviewing materials produced by settling noteholders and summaries” and “Reviewing debtors' supplemental production and Aurelius, Owl Creek and Centerbridge productions” on 3/22, the next day (3/23) Ard singled out Aurelius, and spent nearly 5 hours (4.9 hrs) on “Reviewing Aurelius production.” Again on 3/25, Ard continued pondering on Aurelius, “Reviewing Aurelius and Owl Creek productions” (4.2 hours). It seems to me that Aurelius has something interesting that attracted EC counsel’s attention, and therefore, within this context, in my view, EC wanted Aurelius deposition going forward on 5/5. I caution people against reading too much into 5/5 Aurelius deposition, especially relying on unreliable “price movement” post deposition to gauge the deposition results. The fact is we don’t know what happened at deposition. We don’t know the content of documents being reviewed by EC beforehand, and we don’t have the necessary context to make sensible judgment. For instance, a seemly innocent exchange (Q&A) in deposition, when placed into proper context, can suddenly reveal the guilty side of an answer. Besides, I highly doubt there were any leaks out. We shouldn’t frighten ourselves with wild speculations needlessly.

(3) I said somewhere we saw at the best only half of EC actions. I define the “unseen half” not as things that have not happened or waiting to happen, but activities that had happened or are taking place behind scene. According to March billing, there was an offer or settlement proposal. It’s interesting to note that on the same day (3/28) when Justin was “Conferring re offers and discovery” and L. Godfrey “Reviewing trial team email re settlement offer, etc.” Ard was “Reviewing possible avenues of recovery for equity under current plan”. It indicates there are some sort of talks going on behind scene, but EC isn’t satisfied with whatever on the table, and the case is not over by a long shot. It also means EC is working hard to maximize recovery for equity.

(4) The most interesting thing on 03 billing is the entry “Researching potential extent of disallowance against settlement shareholders.” (Ard, 3/31, 2.40 hrs). To me, it indicates we have gotten some goods on insider trading charge. Otherwise, it’s premature to explore the “potential extent of” punishment for offense. I also noticed after more than two month investigation, beginning on 3/21, there is an increasing number of entries for researches on interest rate (FJR) issues, valuation of reorganized debtor, law of disallowance, and law of good faith settlement. It seems EC has become more confidence in investigation as time goes by.

This insider trading thing is now looking more and more like Sokol situation (one of Warren Buffet hier apparents) . Sokol made recommendation of purchasing Lubrizol Corp (in our, SNHs designed GSA and asset distribution structure); he participated in Lubrizol acquisition discussion (in our, SNH even delivered GSA term sheet to JPMC); meantime, he purchased Lubrizol stocks (in our case, SNHs acquired wmi debts). If the court fails to recognize insider trading frauds and apply proper punishment in our case, I hope people won’t blame EC for not making the effort, but please go screaming at the corrupt system.

(Disclaimer: the content of this post is my observation, analysis, and opinions of on going wmi BK case based on information available to me and wmi equity holder public. They should not be viewed or used as investment advice in any form or shape. I’m neither in financial nor legal profession, and far from qualified to give out investment advices. Patience360)

Este post es especulatorio pero a la vez es muy interesante si esta posibilidad fuera real.

Despite the wave of pessimism that washed through this board last week after Bopfan (for whom I have the greatest respect and admiration) publicly voiced her fears for common, that class is closer then ever before at ultimately prevailing, big time.

The answer lies in a strategy that was attempted some time ago by Mike W (if memory serves me correctly), but was seemingly abandoned. I now have reason to believe that it was not in fact abandoned, but merely put on hold … awaiting a moment in time that we are now rapidly approaching. That strategy also corresponds nicely with my earlier thinking that a fair settlement (for ALL classes) will take place PRIOR to any confirmation hearing. Here’s how that goes:

SG only needs to prevail on the IT issue to the extent of the present disparity between assets and liabilities, which is approximately $400M. There is $2.7B potential HF dollars at risk in the IT matter. SG need not concern itself with voiding the total amount, but only that amount which constitutes the present difference between assets and liabilities. Thus, if SG could succeed in getting Walrath to invoke FJR on the $700M HFs’ position in the Hs, then – instantly – A>L, and WMI is a solvent entity. But more importantly, at that moment in time, the shareholders of that solvent entity have the legal right to conduct a shareholders’ meeting and address long-denied matters of corporate governance.

Some time ago, Mike W (again, if memory serves me correctly) attempted to obtain authorization to conduct such a meeting, but the matter stalled when the Examiner rendered his decision. Walrath subsequently noted however, that the issue could be raised again, by motion papers. I’m of the very strong belief that the issue was never truly abandoned by Mike W, but instead lay dormant, awaiting the precise time when raising it again would give the EC tremendous new leverage over JPM and FDIC. A SHAREHOLDER’S MEETING IS THE ONLY REMAINING WEAPON THAT COULD DESTROY THE GSA, and thus, the mere POSSIBILITY of it taking place would immediately create the kind of leverage that would make JPM and the FDIC re-think their negotiating positions.

But would Walrath grant such a motion? If the motion were brought on behalf of a solvent corporation whose SHs had prevailed against the corrupt actions of a group of HFs that had engaged in IT, to its detriment, then she’d be hard-pressed NOT to, wouldn’t she?

Lastly – and this is SHEER SPECULATION – but so very, very interesting: just days after the Examiner crushed us with his report, the superbly articulate, wonderfully prepared, and supremely courageous Nate Thoma, just popped out of the ether by uncanny coincidence; ready, willing and able to present the EC with the direct means to move WMI to solvency and thus closer to the possibility of convening a SHs’ meeting, and thus arming itself with tremendous new leverage against JPM and FDIC.
Mere coincidence you say? I certainly hope not. I hope our EC is as conniving and ruthless as the b@stards who have been fighting us are.

AIMO

Por especular se puede seguir reafirmando que las comunes recibiran 12 $ y las preferentes Full Value. Tambien que Lehman y Wamu volveran a renacer de sus cenizas y les devolveran todo lo que tenian perdonando sus pasivos para sanear sus balances, por decreto. Asi todo es posible como que Inmigrante cambiará el tono de su piel y lo llamaremos Blanquito. Tambien que Mr-Simpson se convertira en un basher activo de los foros despues de su experiencia como pumper donde a visto subir y bajar su patrimonio como si de una montaña rusa se tratara.

Besugo cabe la posibilidad si recibimos esos 400 millones de usd que ocurra.
Esta vez la Juez con el comentario de las sorpresas aun tiene la ultima palabra.
Nadie niega q tb nos podemos ir al carajo pero cada dia q pasa esa me parece una posibilidad mas lejana.

El proximo viernes se despejara la proxima incognita.

Spot1Roth dice:

The week ahead will show if the Hedgies will be deposed. I still say none of the last three will be deposed and yes I did not think Aurelius would be deposed either. I have since had thoughts on why they were that I think makes a lot of sense. It appears they were forced to be deposed, and the reason being (according to billings) would be they are VERY guilty. Now, if one is going to dismantle the GSA, it would make sense to have the guilty people on record showing they were part of this crime of stealing the reorganized WMRRC, hiding assets (bankruptcy fraud) and zeroing out shareholders. Then Susman could make a deal with the other three Horsies to prove verbally and in writing (throw under bus) Aurelius is guilty, thus cornering the Judge (who wants to sign current POR) into denying the POR or will prove she is aiding and abetting the crime of bankruptcy. This play is truly brilliant and this would explain why Susman did NOT give Aurelius ANY choice as Susman needed this on record to prevent the Judge with coming up with some lame excuse to sign the POR and leave her NO WAY out, unless ignoring crimes is on her agenda. Quite frankly, the EC has NEVER looked so good! If we see the other Horsies delayed or moved this will tell me Susman is on his way to taking control of the Estate. Then we would either see an 8k filing very soon, disclosing a deal with the Horsies or since we are so close to the 5/13/2011, he will just include it in his total objections due 5/13/2011.

Next we get to look at the real valuation of the entire POR and even though this is extremely important, I feel the above is the only way we can get the POR denied and that is because the crime of insider trading really destroys the criminals overall strategy. We have already seen this Judge give everything to the Government and the ONLY thing she may want Equity to have are the NOL’s and she expected Rosie to do this which he will not. I do not believe she would cave into Equities favor versus turning Rosie and the POR down. I am sorry folks, her actions are far to telling on what she WANTS to do so with that said I feel Susman has to make the crime his MOST important stance (even over valuation) if Equity is to get charge of this Estate. The Judge will make sure there is no appeal heard in Delaware for the sake of Equity, before she has a chance to sign this POR, thus mooting the decision if there ever is one. I also believe this is why Susman has been working on Rule 65, to overthrow this Judge or invoking a stay if in fact it goes that far. I still believe we have multiple plans of attack and I feel strongly that Susman has to work the angle of a crime being committed to get control. The criminals can come up with many weak excuses, other paid of criminals and so much more to reinforce their under to no valuation of the Estate and the Judge will no doubt sign this POR, based on HER PAST ACTIONS!

I have said this before and will say it again and that is we have multiple plans of attack planned and Equity has been quietly working with TPS, Blackhorse and others (behind the scenes) to ensure this POR is denied and/or coming up with our own POR to be entered sometime and maybe even this up coming week. Susman knows beyond doubt this Judge will approve this POR unless he has something extremely damaging and that goes back to proving the crime of insider trading and the forced deposition of Aurelius. I feel there will be multiple reasons the POR has to be turned down, but the only reason (POR is denied) will probably be if Susman is able to successfully tie the Sr. Note Holders to the crime and I feel very confident, based on billing records he CAN and WILL accomplish this. Many times in the past I have said we would never see a ruling on the infamous four billion and see a total asset list/valuation. The criminals have kept this blacked out for three years, controlled the media, threatened people and any/everything to keep anyone from finding out, so most people expect that this is going to be on the front page news during the Confirmation Hearings or before? Makes one really wonder now, does it???