WAMUQ -- Your Guide to Early Retirement

kuwlness · Sep 10, 2009

Ohh Ohh, More Signs of Things to Come:

Short Report 09/10/09
Washington Mutual Inc. WAMUQ

Short Interest (Shares Short): 52,514,872
Days To Cover (Short Interest Ratio): 2.93
Short Percent of Float: 3.07 %
Short Interest - Prior: 55,684,300
Short % Increase / Decrease: -5.7%

3,169,428 shorts covered since the last report.

http://www.otcbb.com/asp/OTCE_Short_Interest.asp

Check it out ... 52M more shorts to go.

Go WAMUQ ... Can you say SHORT SQUEEZE!? It's coming ... dollar land when the squeeze happens, then it's on to settlement dollaz.

Short reporting is due.. 9/15..
We know that shorts must cover..
Buy Friday to add the short covering report pressure.. For Tuesday 9/15..
We may see another 100% turn.. from .16$ to .275$ by 9/15

kuwlness · Sep 11, 2009

SWEEEEEET:

"PACER - JPM Drops Motion To Strike D Logan Affidavit"

http://www.box.net/shared/vpoz9j5f1b

HaHaHa JPM is running out of options ... too good to be true, but it is!!

kuwlness · Sep 12, 2009

Is this a one-man show or a FORUM!? Come on guys, I gave you a whole day to catch this headline and no one caught it. Gotta keep up to date on what's happening ... and if you see something of relevance, please post it here.

Yesterday's Headline, Today ... at least now you have the weekend to decide if this is another reason to buy WAMUQ:

Russell pays $115M for JP Morgan Chase building in Seattle
Source: http://seattle.bizjournals.com/seattle/stories/2009/09/07/daily34.html

Hello ... This is HUGE. Another development in the story that's unfolding right in front of your eyes, yet no one catches it?? Well, enough of me harping on you.

So, here we have two significant developments in the last 2 weeks:

1) Goldman Sachs files letter of intent order to purchase WaMu's Wind Farms for $440-500M. (link: http://www.kccllc.net/documents/0812229/0812229090904000000000004.pdf)

and 2) Russell pays JPM $115M for WaMu's old building (which cost $350M when completed in 2006).

I'd say JPM's trying to scrounge up some cash ... hmmmm, I wonder why.

Are you starting to see the pieces of the puzzle coming together?

Lets get this discussion board buzzing, the more the merrier.

DeathEatsaCracker · Sep 12, 2009

I'm just an observer on this one and I'm very curious to see how it plays out. I'm rooting for you.

sleepwalker · Sep 12, 2009

I would like to know how many shares are there of WAMUQ? Must be in the Billions, I would guess. Could the settelment be high enough to realize an $8 per share result? Would the shorts covering ease some of the pain for JPM? Just a novice here, and any insight on how this would work out would be appreciated. Best of Luck to All.

Kuwlness, thanks for all your contributions here at the RX, profits would greatly exceed anything a small investor could possible make by betting sports. Best of Health and Good Fortune to you and yours.

snoop · Sep 12, 2009

JP would have to cough up about 13.5 bils for $8/share settlement. There are approx 1.7 bil outstanding shares WAMUQ..

I'm holding 8000 shares, I'll probably load up some more if it crosses $.25. I keep very close eye on developments. Sep 25th could be a big day.

sleepwalker · Sep 12, 2009

Thanks so much Snoop, I think JPM can handle that.

ivyconniver · Sep 13, 2009

kuwlness said:
I'd say JPM's trying to scrounge up some cash ... hmmmm, I wonder why.

Because they're selling off assets that were acquired in the buyout, and are either not relevant or unnecessary to their ongoing business.

I'm all for making money in the markets, but I think you're grasping at straws that aren't there on a lot of these stories.

kuwlness · Sep 13, 2009

ivyconniver said:
Because they're selling off assets that were acquired in the buyout, and are either not relevant or unnecessary to their ongoing business.

I'm all for making money in the markets, but I think you're grasping at straws that aren't there on a lot of these stories.

It's possible that I'm reaching for straws, but I'll leave you with a few facts and a link to decide for yourself, right from today's article:

"Assets: $327.9 billion"

"...government regulator to seize the holding company's banking assets and sell them to JPMorgan Chase for $1.9 billion."

http://finance.yahoo.com/career-wor...st-us-bankruptcies.html?mod=career-leadership

Strange, those numbers are way far apart. So they got an instant 17,200% return on their money? Proof is in the pudding ... The article even specifies WaMu is suing JPM, although the amount they're seeking is much greater than the $13B in damages. WaMu shareholders are getting paid, 'nuff said

lax_gunman · Sep 14, 2009

Just thought this was some good reading material

"On Sept. 25, 2008, the FDIC seized Washington Mutual Bank (WMB) and immediately sold it to JPM for $1.888 billion. The next day, WMB's parent holding company, Washington Mutual Inc. (WMI), filed for Chapter 11 bankruptcy protection.

WMI believes that FDIC committed two major errors: one, that some of the seized assets belonged to WMI, not WMB, and therefore FDIC did not have legal right to seize these assets; and two, that FDIC sold the assets of WMB, which it did have legal right to seize, for less than fair market (liquidation) value to JPM.

WMI has backed up these beliefs with lawsuits against both FDIC and JPM. Altogether the compensation requested for these two types of wrongs is in the tens of billions of dollars. In addition, WMI (apparently unbeknownst at the time to either FDIC or JPM) had $4 billion in cash on deposit in WMB; this cash is now on deposit with JPM and WMI has sued to have this large amount of cash turned over to their estate.

Finally, WMI has sought and obtained, over the strong objection of JPM, the bankruptcy court's permission to investigate JPM for a variety of potentially tortious activities in the several years prior to the seizure of WMB; these include allegations that JPM engaged in sham negotiations earlier in 2008 designed to elicit confidential information from WMI, and that JPM misused and publicly leaked this confidential information to gain an unfair advantage in obtaining WMB's assets which had long been coveted by JPM.

Soon after WMI filed their first lawsuit, against FDIC in March 2009, a corporate bankruptcy lawyer wrote:
"You are about to see the awesome power of Chapter 11 unleashed on both a government agency and the nation's most powerful bank. Watch and learn."

Over the past six months, those who have been watching have indeed learned about the power that a Chapter 11 bankruptcy judge wields protecting her Debtor and attempting to maximize the value of the Debtor's estate for the benefit of its creditors.

The major rulings so far in bankruptcy court:
- FDIC and JPM attempts to invoke FIRREA jurisdictional bar: denied
- FDIC and JPM motions to stay two adversary proceedings or remove to D.C.: denied
- WMI Rule 2004 motion to examine JPM: approved
- JPM motion for reconsideration of Rule 2004 motion approval: denied
- WMI subpoena of JPM for Rule 2004 documents: served
- JPM motion to dismiss WMI's 18 counterclaims: denied
- JPM attempts to categorize the two adversary proceedings as non-core: denied"

http://www.facebook.com/topic.php?uid=26391741490&topic=13357

SpreadDestroyerr · Sep 14, 2009

She's moving pretty good today:cripwalk:

lax_gunman · Sep 14, 2009

lax_gunman · Sep 14, 2009

wow, 10.5

kuwlness · Sep 14, 2009

kuwlness · Sep 15, 2009

JPM to repay TARP by 30 Sept 2009 because JPM has announced that common share holders will receive a Dividend

http://news.moneycentral.msn.com/ticker/article.aspx?symbol=US:JPM&feed=BW&date=20090915&id=10393615

JPMorgan Chase & Co. JPM declared a quarterly dividend of 5 cents per share on the outstanding shares of the Corporation’s common stock. The dividend is payable on October 31, 2009, to stockholders of record at the close of business on October 6, 2009.

Notice: TARP required Bank companys to stop or dramaticly reduce Dividend payments till TARP was repayed.

A Settlement is coming IMHO ...

Tomorrow: Look for all WAMU stocks to take off VOLUME and PPS.

GO WAMU!!

punter · Sep 16, 2009

WAMU finally begining to behave like a stock under accumulation.

kuwlness · Sep 16, 2009

More KCCLLC Docs -- WaMu Lawyers Pimp Slappin' JPM

"The Court Should Dismiss These Duplicative Counterclaims so the Discrete Issue of the Deposit Liability Can Quickly Proceed"

I can't wait until the next Omnibus hearing! (9/25)

Debtors’ Reply Brief & Greenleaf July Billing

Certification of No Objection Regarding Fourth Monthly Application of Elliott Greenleaf, Special Litigation and Conflicts Counsel to the Debtors, for Compensation and Reimbursement of Expenses for the Period July 1, 2009 Through July 31, 2009

http://www.kccllc.net/documents/0812229/0812229090916000000000002.pdf

Debtors’ Reply Brief
In Support of their motion to Dismiss Amended Counterclaims of JPMorgan Chase Bank, N.A.

http://www.kccllc.net/documents/0812229/0812229090916000000000003.pdf

"The obfuscation and delay brought by JPMC's baseless counterclaims will not change the fact that JPMC is refusing to release over $4 BILLION of WMI's money in deposit accounts held by JPM."

Lol, that's our money in the bank, and we want it back mutha fackus!

kuwlness · Sep 16, 2009

I like this guy's take on the likely outcome ... from a post on Yahoo compliments of larry888nyc:

(a recent quote)

"If the FDIC can show that the amount of money they received from JPM was a fair and reasonable compensation, they will have no problem in court and the case will be over quickly. If they cannot show that, then the court will attempt to compensate WAMUQ for the damages they have suffered at the hands of the FDIC and award them an amount of money based on those damages". (Mary)

The FDIC is in one difficult spot ... they have no way in Hell on finding what WMI was worth on Sept 25th or for that matter any other date, when you realize they didn't even know what they sold (missing 3.1a). From their performance on this debacle I am not sure that Sheila couldn't find her ass in the dark with the assistance of a map and a candle.

This case will be settled as there are so many Achilles heels owned by JPM and the FDIC it begs for a satisfactory resolve. As said before, they are on a two legged chair that's getting shakier by the day. Most answers are in and those outstanding will be filed before the Sept. 25th and by all recent and past accounts that day of reckoning is almost upon us. Weil, Quinn and Associates have done an admirable job at boxing in JPM and the FDIC. Judge Walrath is no simpleton, she is very experienced and is excercizing her patience to avoid a meritas "appeal". Further, I am sure that the JPM pleading to Judge Sleet will be turned down and referred back to Walrath's court.

JPM and the FDIC cannot under any circumstances go to trial, they will be slaughtered..I stick to my prediction that the progress for resolve will start in Sept / Oct with a final acquistion of WMI by JPM with stock (down to the common)and not a dime of cash, by Nov 09 / Jan 10. The end is near, either acquire more while it's cheap.. or hold on to what you have and do not put stops or the MM's will take you out."

snoop · Sep 17, 2009

It's moving nicely today.

SpreadDestroyerr · Sep 17, 2009

Sold my entire lot at the close and plan on re-entering next week.

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