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

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Washington Mutual demanda a la FDIC por 17 billones US$ + daños
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Washington Mutual demanda a la FDIC por 17 billones US$ + daños
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#7665

SETTLEMENT SCENARIOS - REFLEXIONES - (patience360

As I suggested yesterday, last Friday’s so-called “global settlement agreement” was choreographed primarily as “smoke and mirrors” to cover up the questionable dealings between fdic and jpm in relation to the wamu seizure and fire sale. It was also designed partially as a bargaining floor with severely lowered expectations for pressuring equities for next rounds of negotiations. (See my post “Global Settlement” or Smoke and Mirrors? ” ) After giving some thoughts to the second point, I’d like to expand it a little more, and come up with three possible settlement outcomes.

(1) My 1st settlement scenario: the debtor, jpm and fdic propose to the EC a very lowball offer (slightly better than last Friday’s “sell-out” style, sham deal. With no single ally at the negotiation table, facing an uncooperative, even outright hostile board of directors and its hired guns, the EC has some ammunitions (its own evaluation of the true value of wmi estate and dirty laundries of jpm/fdic), but it has no control and can’t strike really hard at the adversaries (at least not yet). For whatever reasons, the debtor’s BOD and its attorneys decided to side with our adversaries. Maybe they just want to make the creditors whole and go away; maybe Weil and co. do not wish or dare to burn the bridge to jpm; or maybe the BOD wants to protect their buddies of former wmi/wamu management if the 2004 discovery goes deeper and deeper. No matter what the reasons are, the parties which control the litigation/negotiation process (the BOD and weil) are not our friends. The EC has been sidelined so far. Under such adversary condition, it may have no choice but to accept the lowball offer.

(2) Let me quickly jump to my 3rd or last/best scenario before I explain the 2nd. As the EC proposed and planned, the shareholders will have by April 23rd their first annual meeting in more than two years. If, this is a very big “if”, the shareholders meeting and a new shareholder friendly (fingers crossed) BOD materialized. With a new BOD, weil’s gone, the control of the litigation/negotiation is shifted to the EC and its legal counsel. Under such condition, jpm and its chief can forget about their boasted “we’ll win them all” line. The EC can swing a big stick (true valuation and 2004 discovery) left and right, smashing at its adversaries. In this scenario, the shareholders will receive a much better or the best possible settlement outcome.

3) My 2nd settlement scenario. As we know, the proposed schedule for the shareholders meeting is April 23rd. If everything goes as planned, we may still not have the meeting until more than a month later. In between, the negotiations are going on, only at this time, I believe, with a new player the EC and its counsel at the table. Even the shareholders meeting is more than a month away, the prospect of the meeting, a new BOD, and shareholders revolt can pose some serious threats to the debtor, jpm and fdic, and force them to seriously consider sweeten the deal to an acceptable degree, not great but fair. Because of the uncertainties of the events, I think, in this 2nd scenario, the EC will accept the sweetened offer, which will be neither overly low nor as high as we wish for, but in the middle.

Some people blamed the EC and its counsel for lack of awareness about Friday’s deal. I don’t. With the current board and weil in total control, the EC can do very little about it. In fact, I commend the EC and its counsel for their foresight, wisdom, and courage to call for shareholders meeting and the replacement of current BOD. They even had the foresight to set the counting date of shareholders at 3/3, a week before the tremendous shake-off of shares in anticipation of manipulation. They know the tricks and are fully prepared. I have faith in them. As I said yesterday, once we are called for, it is so important for us shareholders to have as many people as possible to show up at the annual shareholders meeting, or at least, send our votes in on time.

Part of this game is about valuation and discovery. The other part of the game is about the control and maneuvering. If we shareholders can deliver to the EC a new BOD, it can crash any adversaries no matter how powerful they are.

(note: in all scenarios I suggested, commons are included.
Disclaimer: just my own analysis/opinion. Not investment advice in any way or form.)

#7666

Re: consulta

Bueno en mi humilde experiencia, me ha sucedido que cuando he querido comprar en un mínimo como el que indicas o vender un máximo, con volúmenes equivalentes a los del viernes, no he podido. Eso no significa, desde luego, que no se pueda "pescar" un buen precio un poco más alto o un poco más bajo, según las circunstancias.

#7668

Re: Re:JURISPRUDENCIA

Hola , me puedes dar datos sobre que les sucedio a los accionistas (common stock) de Calpine y que ocurrio con las acciones preferenciales de esta compañia ... es interesante saber casos reales y que sucede con los accionistas con empresas que salen del bankruptcy , a ser posible alguna evolucion con los graficos ... no estaria nada mal , o de otros casos semejantes...

#7670

Re: Aquí tenemos la primera respuesta

Acabo de verlo en el foro de USA! Espero que mañana se cumpla la lógica y se refleje en la cotización, así se calman un poco los ánimos...

#7671

Carta que podeis enviar por email en contra de la manipulación

We need to send the letter to SEC too, about the manipulation.
[email protected]

Please see my letter below. I sent it already.

Blantant Manipulation on WASHINGTON MUTUAL Common stock - wamuq

Dear Sir/Madam:

I'm a shareholder of Washington Mutual Inc(WMI) and would like to make a formal complaint with regard to blatant manipulation occured on this stock yesterday during specific trading hours.

As you may aware the WMI filed for Ch 11 bankruptcy and the case is being handled at DELAWARE BK Court. The company entered into some sort of verbal settlement agreement and it was presented to the BK court during regular trading hours.

As soon as the Attorney for the Debtor (WMI Estate) started his speech, the share price tanked from 40 cents to a level of 9 cents under 15 mins, for no rhime or reason. Many long term shareholders unaware of the consequences sold the shares at the lowest possible price, since the Market Maker would not accept any Sell order even though the Sell was placed below the Bid Price as well as No indivual could buy even their price was Higher than the ASK price.

Overall a total of 250-275 MLN shares traded and most of the trades occured at the Lowest price of the day.

Whoever was the market maker made a Cool loot totalling around 60-75 MLN $$ within 3 hours of the day.

I suspect there is a definite collusion between the Law Firm Weil Goshtal, current WMI board and its creditors committee to perpetrate this fraud on small, unsuspecting individual investors.

I would like to know, why based on SEC rules and regulations when the Material change occured why was not the WMI Management put out a PR before the Market open? Are they not obligated to provide this information to the shareholders and the investing public, so that they could approach the market armed with necessary information. This is certainly a Violation of SEC norm, relating to Public companies.

Secondly despite the grey market, who was the principal player, who acted with minute precision to efffect this fall at the right time i.e as soon as Mr.Rosen of Weil & Goshtal started his speech. When he did not even utter 2 words, the stock started plummeting.

This is NOT the first time the stock reacted this way. Even on another occassion when he opened his mouth the stock tanked bigtime. Is Weil & Goshtal helping certain hedge funds to short and cover their position?

It may be a pinksheet stock, however the volume and the loot occured during the 3 hours is more comparable to genuinely listed stock.

The shareholders become important right now, since the Equity Committee has approached the Court, for an AGM as well to elect new Board Members. Since majority of the shares traded yesterday, involves individual, by depriving of their rights, the current BOD and management might have a part in this action.

I would request you to consider whether you could Cancel all the trades occured during these hours, so that the status of shareholding remains the same as on earlier day.

I would appreciate your action in this regard.

If you have any questions, please let me know.

Thanking you,
Yours truly,

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