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

Si todo lo que dices fuese lo que probablemente fuese a ocurrir:
. DS que se aprueba el dia 24 o posteriormente.
. Si se aprueba el DS es como aprobar el POR.

Entonces las acciones se derrumbarian fuertemente en el momento que la Juez aprobase el DS, esto al menos el mercado no lo recoge de momento ni por asomo.

Hay afirmaciones con las cuales no coincido, ya que si van a deponer al EC, tal como afirmas ¿Porque los nombró la Juez en su dia? sería otra comparativa a cuestionarse.

Creo que los debtors van a su exclusivo interés, que es demostrar que Activos no superan los Pasivos, para dejar fuera a los accionistas.
Al final deberá conocerse los motivos por los que la demanda inicial contra la FDIC se pretende retirar.
Además un agravante como que los NOL sean repartidos cuando los accionistas no estan "in the money" es un aspecto que la juez no debería aceptar en el DS actual ya que es del todo ilegal según consta en las disposiciones del TARP a bancos que recibieron ayudas.

Ya va quedando menos... Buen fin de semana a tod@s.

the last weeks we have seen some new numbers for the cayman securities, and some numbers for the performance of the wamu loans at jpm. Together with some old numbers imo there is a update necessarry for the minimum numbers, jpm should pay to wmi.

but let`s start with the old one: "For all the chaps, who ask for a lowball settlement offer, don`t forget, JPM made an offer in march 08 for wmi!:

+ 6.800 mm for the commons (850 mm shares x $8)

included in the deal was also the assumption of some debt

+ 3.400 mm for the preferreds
+ 13.100 mm for the bank bonds
+ 6.800 mm for the holding bonds
+ 1.400 mm other debt of wmi

+ 31.500 mm would have been the total cost for jpm

in september 08 jpm bought jpm from fdic only wmb for 1.888 mm, without the most liabillities, and wmb had additional

+ 7.200 mm injection from tpg
+ 13.230 mm cayman trust assets (old 7.560)

+ 51.930 mm total (old 46.260)

until now that`s v4, but now i fund the loan loss provissions at wamu were at 14.800 mm, and the loan loss rate was at the covered bonds at 0% and at the other loans at 0,5% (remember the famous bloomberg article, with jpm`s downwriting and the comming upwriting, 29,7 billions – 29,1 billions = 0,6 billions expected default from 119 biilions overall, that`s 0,5%. Now take the loan loss provissions of wamu (14,8 billions) and subtract the estimated losses for the 2q and 3q of wamu (10 billions) and you get 4,8 billions more, jpm gained from the firesale.

+ 4.800 mm cash from wmi after subtraction of the Q2 and Q3/08 losses from the loan loss provision (old - 7800 losses q2 and 3/08)
- 1.888 mm price paid to fdic from jpm

makes a total profit for jpm

+ 54.842 mm or 55 billion (old 40 billion)

this is pure core capital, and therefore jpm made unjustified profit with it until now:

54.842 x 16 (allowed are 32) x 0,05(5%) / 12 = 3.656 mm per month (old 2.669), until now x 24

+ 87.474 mm unjustified profit (64.067 old)

+ 142589 mm or $142,5 billion (104 billion old)

so jpm made an illegal and unjustified enrichment of $142,5 billion until now!

And add $3.656 mm every month from now!

And the numbers are from a jpm lowball offer!
i repeat, FROM A JPM LOWBALL OFFER !!!!

September 17, 2010: Leading up to next week's hearing in Delaware (Friday, September 24) the only real news has been from court filings. WMI has now taken depositions from the four current Equity Committee members, but the depositions themselves are not public information. Amazingly, WMI this week filed notices that it also plans to depose two former Equity Committee members as well in what appears to be a desperate attempt to head off a possible shareholders' meeting by showing "clear abuse" on the part of the Equity Committee; this is in the face of the judge's statement months ago that she doesn't believe there is any evidence of "clear abuse". The Equity Committee struck back this week, filing a notice that it has served "interrogatories" to lead members of two of WMI's law firms. From Wikipedia: "interrogatories (also known as requests for further information) are a formal set of written questions propounded by one litigant and required to be answered by an adversary, in order to clarify matters of fact and help to determine in advance what facts will be presented at any trial in the case.". In addition, the Equity Committee has requested documents related to the shareholders' meeting lawsuit.

Fly on the wall.

Part 2

A couple of my notes from the hearing ...

When the TPS lawyer was arguing for the documents from JPM, he was visibly frustrated. The Sullivan Cromwell lawyer for JPM was verbally dancing around and spinning words around the fact they could not find them and being very careful not to say they didn't exist. After his first performance, the SC lawyer exited the gate with this back to the Judge and breathed out with open eyes like he couldn't believe he was getting away with it. I couldn't believe it either.

The only time Brian Rosen and the Wiel lawyers looked concerned during the hearing was on the shareholder issue and Kelly was even biting her lip.

When Edgar Sargent and Rosen were talking about the depositions of the EC and the number of hours came up, the judge was smiling ear to ear with a tilted head and an upward look.

The Examiner, Mr Hochberg looks the part, a pseudo cop lawyer. I have a positive feeling on him and his report will pull equity out from under the preverbal bus.

I really would have like to have seen Mr Susman in action, maybe next time.

I left the court room and Ken and Doreen from the EC were talking to Catz and the shareholders.

Bopfan ya está en GoW...

Everyone should read this article Govinsider found:

http://www.andrewskurth.com/media/article/1518_HiggasonReprint.pdf

The fraudulent conveyance claim is solid; recovering the full value of the seized subsidiaries is only a matter of time. Moreover, the piece further discredits WMI's/Weil's claim that pursuing the FC claim against the FDIC would be fruitless.

¿qué es GoW?