Personally I think something will come out between now and the next court date. Will it be the $4B ruling? I dont know, I think something good is coming though.
Of course the FDIC will try to delay, it's them that's gonna be frontin' the money to WaMu anyway, so we'll see how much longer they can dilly dally.
Did Dimon Breach WaMu Agreement?
http://www.thestreet.com/story/10679775/1/did-dimon-breach-wamu-agreement.html?cm_ven=GOOGLEN
http://www.thestreet.com/story/10679775/1/did-dimon-breach-wamu-agreement.html?cm_ven=GOOGLEN
Why no report from our EC?
http://messages.finance.yahoo.com/S...bn=86316&tof=2&rt=1&frt=1&dir=f&ri=350498&t=c Why the complete and utter silence? Why no word from the EC to its constituency (US) ...about ANYthing? The creditors' committee reports to the creditors; the bondholders' committee reports to the bondholders. Why no word to us? Surely work is being done. Surely billable hours and associated expenses are being churned out in mammoth proportion. Aren't we, as shareholders, owed a few lines or two on some half-ass-EC-sponsored web site as to how our interests are being protected, and the steps that are being (have been) taken in order to bring that about?
Don't get me wrong. I'm not asking for any information whatseover as to settlement negotiations, nor anything that would have any immediate impact on PPS. It would, however, be nice (as well as appropriate I think), for the EC to keep me abreast of issues such as whether it has requested a forensic audit of the subs, and if so, what response did that request elicit.
As far as I've been able to ascertain, no one has yet raised this issue regarding the EC not reporting to its constituency. Presumably, it's only me that's troubled by this. And that troubles me too.
I posted this same query on the Yahoo board and got dragged across the coals for being a basher, which I'm not. It's just that information ... ANY information, would really be valuable at this point in time.
Or, is 'no news' necessarily good news?
I'd welcome any comments.
http://messages.finance.yahoo.com/S...bn=86316&tof=2&rt=1&frt=1&dir=f&ri=350498&t=c Why the complete and utter silence? Why no word from the EC to its constituency (US) ...about ANYthing? The creditors' committee reports to the creditors; the bondholders' committee reports to the bondholders. Why no word to us? Surely work is being done. Surely billable hours and associated expenses are being churned out in mammoth proportion. Aren't we, as shareholders, owed a few lines or two on some half-ass-EC-sponsored web site as to how our interests are being protected, and the steps that are being (have been) taken in order to bring that about?
Don't get me wrong. I'm not asking for any information whatseover as to settlement negotiations, nor anything that would have any immediate impact on PPS. It would, however, be nice (as well as appropriate I think), for the EC to keep me abreast of issues such as whether it has requested a forensic audit of the subs, and if so, what response did that request elicit.
As far as I've been able to ascertain, no one has yet raised this issue regarding the EC not reporting to its constituency. Presumably, it's only me that's troubled by this. And that troubles me too.
I posted this same query on the Yahoo board and got dragged across the coals for being a basher, which I'm not. It's just that information ... ANY information, would really be valuable at this point in time.
Or, is 'no news' necessarily good news?
I'd welcome any comments.
Greetings to you Kuwiness:
It's my understanding that on February 22nd there's a hearing to extend the time to file the reorg plan (from March 26th to some later date). It's my further understanding that the last such extension was the 5th time the debtor got that relief, and the present March 26th deadline was supposed to be final.
At any rate, IMO, if the judge refuses to grant it, or if the date for hearing the motion is pushed off into March, then I'll take that to mean that we'll see a settlement before that hearing date.
I hear you, man. I hate having to look at IHub for that one gem post out of 5000 garbage posts. I usually google "Washington Mutual" once every day and hit the news tab and see if Kristen Grind or whoever else wrote a new article. I don't know if Joyce has posted anything on Yahoo since being chosen for the EC but I really doubt it.
I think the lack of news is in large part because they don't want to do anything to encourage people to invest in a bankrupt holding company that could go to zero. Myself and so many others were screwed in the first place because of statements from the OTS and the CEO that they were well capitalized at LEAST through the end of 08. Additionally, helping anyone other than the ORIGINAL shareholders seems to be frowned upon. I think "vultures" was the term used. I have nothing to back this up, but I would think that this lack of news from the EC to the general shareholders is normal in bankruptcy procedure.
The fact that we even got an equity committee is the most incredible news and I'm happy with that. I don't claim to be an expert by any stretch of the imagination, but I thought I would offer my point of view. Knowing the day to day procedures shouldn't be of much significance to original shareholders because they are holding for the end game. Knowing those day to day procedures would, however, cause TONS of volatility among the "vultures". They don't want to encourage vultures, so the best way for the EC to avoid them is to shut up. If they say ANYTHING, people will demand more and more and feel entitled. In the case this thing drags on for years longer, which it may, the best precedence is silence.
Ameritrade
Charles Schwab
E-Trade
Fidelity
Interactive Brokers
Scottrade
I dont recommend using Zecco or any of the "discount" brokers. It's very easy getting money into these accounts, but it's also very difficult getting money out of them. Stick with the big boys, it's easier and safer imo.
broker
Hi Kuwlness,
Thank you for your advice on brokerage firms.
Now that wamuq is coming to an end, I am thinking about taking your advice and investing in lehman brothers. lehpq. I have been tracking them lately and they seem to be quite eradic. I think that one would be a good one to buy low and flip. Also I read on the board where someone had some lehpq and could not sell it. What is up with that? Any advice on my new venture would be appreciated.
Hi Kuwlness,
Thank you for your advice on brokerage firms.
Now that wamuq is coming to an end, I am thinking about taking your advice and investing in lehman brothers. lehpq. I have been tracking them lately and they seem to be quite eradic. I think that one would be a good one to buy low and flip. Also I read on the board where someone had some lehpq and could not sell it. What is up with that? Any advice on my new venture would be appreciated.
Lehman is a bit more speculative than the WaMu story, but the Lehman family will likely run on any positive developements out of WaMu -- at least, that's always been the case in the past.
I posted a Lehman Class summary on the Lehman board for your reference.
I recommend getting the CTs (Capital Trusts) and a few LEHPQs ($1k face value Preferreds).
kuwl
i have added to. i know how a solid portion of kq and uq. I am thinking of lowering my kq portion a little on the next little run and adding more uq's.
i am suprised we did not get more of a tick up from the EC formation. Are MM really shorting enough of this to keep it down. Who else would want to short this stock? the upside is little and the downside is terrible. Seems like there are way better candidates for shorting.
Do you think they will settle this or just keep delaying? My guess is that it will not settle until the threat and action of setting up a trial occurs. Also there is no way there is not serious settlement talks with them sealing all documents for confidentiality. What do they not want exposed to the public?
Lastly. I know the bk court pushed back there reformation to the end of march. without the ruling on the 4b and all the other exposed lawsuits how can they come up with anything?
Do you think if there is a settlement with bond holders which wipe out equity? At this point with what is known does that consistute a class action suit?
Of course just all your opinion.
gl
i have added to. i know how a solid portion of kq and uq. I am thinking of lowering my kq portion a little on the next little run and adding more uq's.
i am suprised we did not get more of a tick up from the EC formation. Are MM really shorting enough of this to keep it down. Who else would want to short this stock? the upside is little and the downside is terrible. Seems like there are way better candidates for shorting.
Do you think they will settle this or just keep delaying? My guess is that it will not settle until the threat and action of setting up a trial occurs. Also there is no way there is not serious settlement talks with them sealing all documents for confidentiality. What do they not want exposed to the public?
Lastly. I know the bk court pushed back there reformation to the end of march. without the ruling on the 4b and all the other exposed lawsuits how can they come up with anything?
Do you think if there is a settlement with bond holders which wipe out equity? At this point with what is known does that consistute a class action suit?
Of course just all your opinion.
gl
http://www.kccllc.net/documents/0812229/0812229100223000000000005.pdf
EC is up their game now. Let's end this soap opera already.
EC is up their game now. Let's end this soap opera already.
