APP - FDIC/JPM vs WaMu

Topspin said:
wow hope you have more than that. LOL
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Oh, plenty more than that... got 750 pages of stuff on Monday. If you look at who the powerpoint slide was meant for (Ratings Agencies), you can see JPM was collaborating with them to try and force WaMu down. They were letting them know what their intentions were and how they planned on getting WaMu months before the seizure. I understand you probably aren't paying attention to what I've been telling you the past 9 months or so, but to think this is all I got is pretty funny.

<sarcasm>
I spent 9 months of my life researching, and all I got was this lousy powerpoint slide...
</sarcasm>
 
Topspin said:
yawnnn!!!!!!!!!!
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Ok, here is something cut and dry for you, and I'll start by making it easy for you since the rest of it is way over your head and boring. JPMorgan convinced the FDIC to cover some of the damages they will face when WMI was going to sue for breach of contract. They knew they were violating that contract, and they admit that here:
 
Topspin said:
news flash a business man did something someone disagreed with
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Ok top... I guess as long as you put it that way, we can throw out all the laws that were broken in the process. Stop being facetious... just go read everything that's been provided for you. I gave you the link to the court document handed out Monday, they didn't use 750 pages to say 'hes a mean evil man'. I don't have time to play games with you. I would rather be digging deeper.
 
Superfreak said:
What is your take on that...

To me, that would suggest that a settlement is more likely as now all parties are represented.

Not to mention that document did a pretty good bitch slapping of JPM.
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Text from filing:

Further, the U.S. Trustee believes that there are exigent circumstances which require
having the motion heard on December 18. Specifically, the U.S. Trustee’s inability to solicit interest
in forming an official committee of equity security holders, if further delayed, may result in
prejudice to the interests of that constituency, given that there are a number of affirmative claims
the Debtors are asserting that may be the subject of settlement negotiations. The interests of equity
need to be protected with respect to those proceedings.
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Settlement talks were already on-going, but Equity wasn't protected yet. It will probably scare JPM, because now JPM has to negotiate with shareholders as well. WMI may oppose this as well just because they may be worried our involvment may slow down negotiations. I don't think they fight too hard, if at all. They woul be smart to work with us because we want the same thing they do, and we were hurt by this just as well.
 
Looks to me like JPM is coming out on top, don't get me wrong Son. I hope you both make 10 million on your investment.
 
Topspin said:
Looks to me like JPM is coming out on top, don't get me wrong Son. I hope you both make 10 million on your investment.
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Right... just a quick question. Why do you think they'll come out on top, because Jamie Dimon said he's going to defeat all the lawsuits against JPM?

Btw, the last one he had to settle with that county. I guess you can say he defeated it by settleing out of court.

So where are you getting your advice from?
 
At this point if the government doesn't step in and get a good settlement they run the risk of outting themselves. I say settlement and quickly now, then I say we should ride it up with stops until we cash in near the top....
 
News of the day..

WMI is going to object to the formation of the EC. Good news is, the Trustee isn't going to back down. This is just standard practice in bankruptcy. One more group the lawyers have to deal with, and they can't take all the spoils.
 
DigitalDave said:
News of the day..

WMI is going to object to the formation of the EC. Good news is, the Trustee isn't going to back down. This is just standard practice in bankruptcy. One more group the lawyers have to deal with, and they can't take all the spoils.
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Nice roller coaster on the share prices the last couple of days.
 
Superfreak said:
Nice roller coaster on the share prices the last couple of days.
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Yep, todays comments in court is what dropped the price. Rosen stated that as of right now, there is no money for equity (duh), and doens't know why the Trustee is pushing for it. Truth is, there is money coming in soon outside of litigation that will push A above L, and with the current litigation, equity will certainly get something. WMI is hiding those assets until they can get some litigation resolved and put together a plan (which of course they will have to work with the EC once formed). Most Bankrupty cases don't get an EC because the Trustee is the hardest to convince that equity has a chance. The trustee is on our side, and won't be swayed. He got snarky with Rosen and told him he has nothing he can argue with, just get him a list. That exchange scared off some of the daytraders that jumped in on the wave, but the lawyers will almost always fight against equity. They will have to provide Judge Walrath with more than a MOR to convince her equity doesn't deserve protection.
 
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