This figures. The entire time this stock was trading I didn't give WAMU much of a chance against the big boys (JPM/FDIC). As soon as I started thinking they might have a chance a few days ago, everything goes to shit. I'm not an expert so maybe this isn't completely over, but it sure looks that way.
One of my fears about this stock was people putting way too much into the stock on a gamble. There were people over on the iHub board saying they sold almost everything they owned to be in that stock. Scary...
One of my fears about this stock was people putting way too much into the stock on a gamble. There were people over on the iHub board saying they sold almost everything they owned to be in that stock. Scary...
More of a bounce than I was expecting ... shouldve grabbed more at .10, lol.
EC hasnt agreed to anything yet, i'm still holding my core position and wont be selling until the end game.
Recommended this @ .10, folks couldve gotten out with as much as a 600% ROI. Hope people took profits on the way up. Still plenty more show to come here imo.
@)
EC hasnt agreed to anything yet, i'm still holding my core position and wont be selling until the end game.
Recommended this @ .10, folks couldve gotten out with as much as a 600% ROI. Hope people took profits on the way up. Still plenty more show to come here imo.
@)
A lot of people think it might not be over, and technically, they are probably right (I may have been wrong earlier). I don't think this was actually a global settlement, as in, everything is done and the stock is done trading, but it certainly wasn't good news either.
I think I'm done watching this one. They've been going at it for 18 months already, and with this latest decision I have no idea how much longer they will drag the litigation out.
I remember a few months back saying I thought this whole saga could drag on for another 3-5 years. However, I wasn't thinking it would play out this way, and for a short time there I actually thought they might reach a settlement this month or next, but after today's little fiasco I'm going back to thinking this is a process that will take years.
I don't think I could hold this stock long-term (isn't it basically the EC vs. the world at this point?), but it may be a very good stock to flip. Kuwlness would know about that a helluva lot better than I would though...
Yeah, that was one of the worst settlement offers I've ever seen. The fact that Rosen was more than happy to present/accept it tells you that he really doesn't have the shareholders best interests at heart.
In other news, don't they owe $8 billion or more? I thought today's offer was only $6.1 billion? If it was, how could they accept an offer that wouldn't even cover their liabilities? I must have misread something...
can anyone verify with concrete evidence that the EC, trustee, and judge have to sign off on any settlement?
I am having a tough time to make sense of everything. i just sat tight and watched organized chaos today.
i mean the PQ's went from 92.00 to 8 in approx 10 minutes. then closed at 58
the commons crashed...... who bought all these at the bottom?
Where do we see the next week going? or two weeks before the reoganization meeting...
Hope EC lawyers propose some legal docs this weekend or early week.
I am having a tough time to make sense of everything. i just sat tight and watched organized chaos today.
i mean the PQ's went from 92.00 to 8 in approx 10 minutes. then closed at 58
the commons crashed...... who bought all these at the bottom?
Where do we see the next week going? or two weeks before the reoganization meeting...
Hope EC lawyers propose some legal docs this weekend or early week.
hno:It's a bullshit proposal. My 7 years old son would tell me that. Here is the break down.
JPM agree to return $4 bils to WMI with a condition that WMI has to drop all pending lawsuits against them and FDIC. Lol. They knew the judge will rule in favor of WMI on the deposit anyway. 1st bullshit.
There is approx $7 bils tax refund in total, JPM will get $2 bils, FDIC will get $1 bil, the rest go to WMI. It does not make any sense. Another word, government gift Wamu + $100 mils to JPM. They paid $1.9 bils for Wamu. 2nd bullshit.
FDIC will make $1 bil from stolen of Wamu. They have a share of $1 bil from tax refund. 3rd bullshit.
I sincerely hope the judge will see who she is dealing with. She is dealing with 3 biggest thieves on earth JPM, FDIC and a crook Rosen. And what is the point of forming EC when they're not even a part of negotiation process? If she does sign the agreement, all I have to say is justice system in this country is FUCKED.
