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

IMHO, Mr. Susman was watching over Rosey's shoulder while he was filing away on Friday, a very sad day for WGM finally, who have been unbelievably antiequity. I do not think they had much of a choice, either file a motion or face bankruptcy fraud. He had a deadline to meet after the chamber meeting on 8th of November. Now one has to be dummy to not understand the impact of the motion specifically filed on Friday by an enemy of equity. Rosey took every opportunity to bash the equity in his court appearences. He did all he could to bring the prices down to immediate post bankruptcy prices so that his buddies including the bondholders start from scratch just like very few of the retail longs who were smart.

Afterall he had successes but his time is over. Even he is bashing the examiner. Now it is JPM's turn to come clean with TPS before FDIC, JPM and WGM lose it all.Pretty soon they all will be bashing the examiner.

According to the TPS Documents, once the exchange even occured, and it did, they were given prefferd shared that are pari passu with P's and K's. If the $4 B comes back to the estate, P's,K's and TPS will all be at approx 50% face value.
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The TPS documents mean nothing. The court gets to decide if an exchange event occurred. The most likely scenario is that JPM will have to pay off the TPS, which means WMI does not. With the 'at least' $5.5 (I hope no one here believes that's the most coming to WMI; Weil would have given the most nominal estimate for the capital loss benefit) coming in, preferreds are in the money, possibly @ par.
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This motion is a boom to preferreds even if preferreds have to share it with TPS. In that case preferreds are in the money to 50%. If JPM is forced to pay off TPS then preferreds get par AND there's enough for a nominal distribution to common. That 'nominal' distribution deep sixes David Tepper and the other bondholders' plans to steal the company and sell the capital loss for themselves. There must have been some explosion on the conference call when Rosen had to explain that the capital loss was gone. I wonder if he mentioned it came about because some shareholder sent a letter to the court.
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Mucha suerte a todos hoy y ojalá los bonistas se pasen a preferentes en próximas fechas.

Que no va a volver nada a la finca el examiner también dijo que TPS no tenía nada que hacer en sus reclamaciones, como mucho veo a TPS aceptando una bola baja para ellos en concreto.

Te propongo un reloj de arena virtual que tanto te gustan mr.simpson, el reloj de arena se acaba el lunes que viene, si para entonces no tenemos nada, será hora de DESPERTAR''. Espero por tu bien, si te sobra la pasta y prefieres perder todo tu mismo.

Saludos

Rosen's been saying Equity's out of the money since November of last year...

January '10 - Equity is over $100B out of the money.
March '10 - Equity is over $30B, out of the money.
July '10 - Equity is over $1.5B, out of the money.

Now we're talking giving Pref's 10-90% face. One would think that the judge would notice a trend here.

1. If TPS wins, and so WMI assets + 4B$, and A>L, Commons may take the lead on the BK
2. If TPS settles with JPM for a lower value, the POR V6 will continue.
2.a. if the POR V6 continues and Rosen gets the H to agree, some of the P and K may be in the money but far away of par and their vote will not be important, and commons would be nul.

In case 2.a. what can the EC do at confirmation? >> I imagine present a case on NOL and all the issues that has not been defined. (??)

Maxi, aqui la gente parece que aun creen en milagros.
Yo la verdad es que no entiendo como aun estan dispuestos a perder mas dinero.
En fin, les deseo mucha suerte porque la van a necesitar a raudales.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=56693941

El EC no puede hacerlo al firmar un acuerdo de confidencialidad así que vamos a hacerlo con un abogado independiente.

jeje huyy que raro todo el finde bombeando con que gracias a la cartita Rosen ha presentado la moción el viernes, que es totalmente falso. Y ahora que casualidad necesitan 10000 dolares. Espero que lo pongan toda la pasta entre Ghost, Catz y Bopfan, que pasa que no han reunido suficiente dinero en la cueva del dictador Catz, y ahora tienen la desfachatez de pedir en yahoo y en ihub, anda y QUE LES DENN''''.

Pd. Que salga Catz y Ghost a la palestra y pidan disculpas públicas por su forma dictatorial de tratar a los usuarios, que yo entre otros, done para su foro. Y que pidan también disculpas por las pérdidas que han generado a los que han invertido en esta chufla de comunes y preferentes, y han cortado los foreros realistas con estrategias más acertadas.

Saludos